The controlling interest in D300 Bank Ltd is owned by Yayra (20%), Regi (17%), and Mabel (15%). In view of the recent challenges in the banking sector, these shareholders decided to transfer their holdings to T300 Bank Limited, a competitor. The regulator, Bank of Ghana, has already refused to accept the deal.

I. Outline in detail the prohibition and procedures required for effecting changes and or transferring controlling shares in a bank.

II. Outline the penalties prescribed by the Banking law for non-compliance with these laws on transfer and or changes in the controlling Interests of banks.

b. Mention five (5) permissible banking activities approved by Bank of Ghana under the Banking Law 2004 Act 673