Section 25
SEC. 25. A new section is hereby added after Section thirty-four of the same Act to read as follows: "SEC. 34-A. Administrative sanctions. —The Monetary Board is hereby authorized, at its discretion, to impose upon banking institutions, their directors and/or officers, for any wilful delay in the submission of reports; any refusal to permit examination into the affairs of the institution; any wilful making of a false statement to the Board or to the appropriate supervising and examining department or its examiners; any wilful failure or refusal to comply with, or violation of, any banking law or any order, instruction or regulation issued by the Monetary Board, or any order, instruction or ruling by the Governor; or any commission of irregularities, and/or conducting business in an unsafe or unsound manner as may be determined by the Monetary Board, the following administrative sanctions: "(a) Fines not in excess of five hundred pesos a day; "(b) Suspension, or after due hearing, removal of directors and/or officers; "(c) Suspension of rediscounting privileges; "(d) Suspension of lending or foreign exchange operations or authority to accept new deposits or make new investments; "(c) Suspension of interbank clearing privileges; and/or "(f) Suspension of authority to operate. "The above administrative sanctions need not be applied in the order of increasing severity. "Except in the appointment of a conservator and proceedings upon insolvency as provided for under Sections 28-A and 29 of this Act, the Governor is authorized to render opinions, decisions, or rulings which shall be final and executory until reversed or modified by the Monetary Board, on matters regarding application or enforcement of banking laws, implementation of Monetary Board regulations, policies or instructions pertaining to institutions supervised by the Central Bank, including their method of accounting or manner of keeping the accounts, books and financial records, and their submission of reports. "The Governor is likewise hereby authorized, at his discretion, to impose upon banking institutions, for any failure to comply with the requirements of law, Monetary Board regulations and policies, and/or instructions issued by the Monetary Board or by the Governor, fines not in excess of five hundred pesos a day, the imposition of which shall be final and executory until reversed, modified or lifted by the Monetary Board on appeal. "Administrative sanctions shall be applied to all banks of the same category uniformly and without discrimination."