Section 62: Management and Control of Failing Specialised Banks and Other Financial Institutions.

(1) Where the Bank is satisfied that a specialised bank or other financial institution is in a grave situation, the Governor may by order in writing exercise any one or more of the powers specified in section 34 of this Act.
(2) The Bank may grant advances to non-interest banks in a grave situation or which the Bank otherwise determines requires liquidity support on such terms other than as to interest as the Bank may deem fit.
(3) If after taking any of the steps stipulated in subsection (1) or such other measures as in the opinion of the Bank may be appropriate in the circumstance, the state of affairs of the specialised bank or other financial institution concerned does not improve, the Bank shall revoke the licence of such specialised bank or other financial institution.
(4) Any specialised bank or other financial institution whose licence is revoked under subsection (1) shall be wound up by the Corporation or a person appointed by the Bank.