Regulations last checked for updates: Nov 22, 2024

Title 12 - Banks and Banking last revised: Nov 20, 2024
§ 269b.710 - Rules to be liberally construed.

(a) Whenever the panel finds that unusual circumstances or good cause exist and that strict compliance with the terms of the rules and regulations in this subchapter will work an injustice or unfairness, it shall construe the rules and regulations in this subchapter liberally to prevent injustices and to effectuate the purposes of the policy.

(b) When an act is required or allowed to be done at or within a specified time, the panel may at any time, in its discretion, order the period altered where it shall be manifest that strict adherence will work surprise or injustice or interfere with the proper effectuation of the policy.

authority: Sec. 11, 38 Stat. 261 (12 U.S.C. 248)
source: 35 FR 8920, June 10, 1970, unless otherwise noted. Redesignated at 48 FR 32334, July 15, 1983.
cite as: 12 CFR 269b.710