Chapter:	155L	Title:	Banking (Capital) Rules	Gazette Number:	E.R. 1 of 2012
Section:	13	Heading:	Revocation of exemption under section 12	Version Date:	09/02/2012

(1) Where¡X

(a) an authorized institution uses the STC approach or BSC approach to calculate its credit risk for certain non-securitization exposures to which an exemption under section 12(2)(a) relates; and
(b) the Monetary Authority is satisfied that, if the institution were to make a fresh application under section 12(1) for an exemption in respect of those non-securitization exposures, the exemption would be refused by virtue of section 12(2) or (4),

(a) if the fresh application referred to in subsection (1)(b) would be refused by virtue of section 12(2), the Monetary Authority may, by notice in writing given to the institution, require the institution to¡X
(i) submit to the Monetary Authority a plan, within such period (being a period which is reasonable in all the circumstances of the case) as specified in the notice, which satisfies the Monetary Authority that, if it were implemented by the institution, the institution would be able to use the IRB approach to calculate its credit risk for those non-securitization exposures within a period which is reasonable in all the circumstances of the case; and
(ii) implement the plan;
(b) if the fresh application referred to in subsection (1)(b) would be refused by virtue of section 12(4), the Monetary Authority may, by notice in writing given to the institution, require the institution to¡X
(i) submit to the Monetary Authority a plan, within such period (being a period which is reasonable in all the circumstances of the case) as specified in the notice, which satisfies the Monetary Authority that, if it were implemented by the institution within a period which is reasonable in all the circumstances of the case, the fresh application would then not be refused; and
(ii) implement the plan; and
(c) the Monetary Authority may, by notice in writing given to the institution, revoke the exemption on such date, or the occurrence of such event, as specified in the notice.