General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act
Part 2 of 2 · provisions 201–318
This section describes amendments about beneficial ownership records, director restrictions, and compliance with regulatory directives.
AI-assisted research synopsis — verify against the official legal text below.
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- South Africa
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- Citation
- Act 22 of 2022
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- en
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Statute overview
About this statute
This section describes amendments about beneficial ownership records, director restrictions, and compliance with regulatory directives. Section 1 adds definitions for “accountable institution” and “beneficial owner” in the Trust Property Control Act, 1988. This provision amends Article 1 by adding new definitions. This section amends trust-related wording to identify the natural person behind certain legal persons, partnerships, trustees, and named beneficiaries. This provision adds rules that disqualify certain people from being authorized as trustees.
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Legal text
Provisions of General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act
Showing 118 of 318
Part
PART 4
- 42B Verify source ↗
Consultation process for issuing guidance
AI-assisted research summary: This text appears to be a section heading about consultation for issuing guidance, followed by a heading about training on anti-money laundering, counter-terrorist financing, and financial sanction obligations compliance.
42B. Consultation process for issuing guidance 43. Training relating to anti-money laundering, counter terrorist financing and financial sanction obligations compliance 10 - 43B Verify source ↗
Registration by accountable institution and reporting institution
AI-assisted research summary: This section is titled “Registration by accountable institution and reporting institution.”
43B. Registration by accountable institution and reporting institution PART 5 Referral and supervision
Part
PART 5
- 44 Verify source ↗
Referral of suspected offences to investigating authorities and other public
AI-assisted research summary: Section 44 concerns referral of suspected offences to investigating authorities and other public bodies.
44. Referral of suspected offences to investigating authorities and other public bodies - 45 Verify source ↗
Responsibility for supervision of accountable institutions
AI-assisted research summary: Section heading: Responsibility for supervision of accountable institutions.
45. Responsibility for supervision of accountable institutions CHAPTER 4 COMPLIANCE AND ENFORCEMENT
Part
CHAPTER 4
- 45A Verify source ↗
Appointment of inspectors
AI-assisted research summary: This section is about the appointment of inspectors.
45A. Appointment of inspectors - 45C Verify source ↗
Administrative sanctions
AI-assisted research summary: This provision is titled Administrative sanctions.
45C. Administrative sanctions - 45E Verify source ↗
Establishment of appeal board
AI-assisted research summary: This provision is titled “Establishment of appeal board.”
45E. Establishment of appeal board - 45F Verify source ↗
Application to court
AI-assisted research summary: This section is titled “Application to court” and refers to section 46.
45F. Application to court 46. - 46A Verify source ↗
Failure to comply with duty in regard to customer due diligence
AI-assisted research summary: Section 46A concerns failure to comply with a duty regarding customer due diligence.
46A. Failure to comply with duty in regard to customer due diligence 47. - 48 Verify source ↗
Destroying or tampering with records
AI-assisted research summary: Section heading: destroying or tampering with records.
48. Destroying or tampering with records 49. - 49A Verify source ↗
Contravention of prohibitions relating to persons and entities identified by
AI-assisted research summary: This section concerns contraventions linked to prohibitions about persons and entities identified by the United Nations Security Council.
49A. Contravention of prohibitions relating to persons and entities identified by Failure to identify persons Failure to give assistance Failure to keep records Security Council of United Nations Failure to advise Centre of client Failure to report cash transactions 50. 51. - 51A Verify source ↗
Failure to report property associated with terrorist and related activities and
AI-assisted research summary: This section heading refers to failing to report property linked to terrorist and related activities, and to suspicious or unusual transactions.
51A. Failure to report property associated with terrorist and related activities and financial sanctions pursuant to Resolutions of United Nations Security Council Failure to report suspicious or unusual transactions 52. - 53 Verify source ↗
Unauthorised disclosure
AI-assisted research summary: This excerpt only lists section headings, including “Unauthorised disclosure” and several reporting/compliance topics, but it does not state the actual rule.
53. Unauthorised disclosure 54. Failure to report conveyance of cash or bearer negotiable instrument into or out of Republic Failure to send report to Centre Failure to report electronic transfers Failure to comply with request Failure to comply with direction of Centre Failure to comply with monitoring order 55. 56. 57. 58. 59. - 60 Verify source ↗
Misuse of information
AI-assisted research summary: This provision is titled “Misuse of information” and is followed by a reference to “Failure to comply with duty in respect of Risk Management and Compliance Programme.”
60. Misuse of information 61. Failure to comply with duty in respect of Risk Management and Compliance Programme - 61A Verify source ↗
Failure to register with Centre
AI-assisted research summary: This section is about failure to register with the Centre.
61A. Failure to register with Centre - 61B Verify source ↗
Failure to comply with duty in regard to governance
AI-assisted research summary: Section heading for failure to comply with a duty regarding governance, followed by a reference to failure to provide training.
61B. Failure to comply with duty in regard to governance 62. Failure to provide training - 62A Verify source ↗
Offences relating to inspection
AI-assisted research summary: This section is about offences relating to inspection.
62A. Offences relating to inspection - 62B Verify source ↗
Hindering or obstructing appeal board
AI-assisted research summary: Section heading on hindering or obstructing an appeal board.
62B. Hindering or obstructing appeal board - 62C Verify source ↗
Failure to attend when summoned
AI-assisted research summary: This section concerns failure to attend when summoned.
62C. Failure to attend when summoned - 62D Verify source ↗
Failure to answer fully or truthfully
AI-assisted research summary: Section 62D is titled “Failure to answer fully or truthfully.”
62D. Failure to answer fully or truthfully 15 20 25 30 35 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za Wysigingswet op Algemene Wette (Teengeldwassery en bekamping van Terrorismefinansiering, 2022 Wet no. 22 van 2022 STAATSKOERANT, 29 DESEMbER 2022 No. 47815 53 53 Toegang tot inligting deur Sentrum gehou 40. - 41 Verify source ↗
Beskerming van vertroulike inligting
AI-assisted research summary: Section 41 concerns the protection of confidential information.
41. Beskerming van vertroulike inligting - 41A Verify source ↗
Beskerming van persoonlike inligting
AI-assisted research summary: This section is about protecting personal information and compliance measures for accountable institutions.
41A. Beskerming van persoonlike inligting DEEL 4 Maatreëls om nakoming deur verantwoordingspligtige instellings te bevorder 5 - 42 Verify source ↗
Risikobestuur- en Nakomingsprogram
AI-assisted research summary: This section is titled “Risikobestuur- en Nakomingsprogram” (Risk Management and Compliance Program).
42. Risikobestuur- en Nakomingsprogram - 42A Verify source ↗
Beheer van nakoming ten opsigte van anti-geldwassery,
AI-assisted research summary: This section is about managing compliance for anti-money laundering, financing, and financial sanctions obligations.
42A. Beheer van nakoming ten opsigte van anti-geldwassery, finansiering en verpligtinge ten opsigte van finansiële sanksies - 42B Verify source ↗
Oorlegplegingsproses vir gee van leiding
AI-assisted research summary: This section is titled as a consultation process for giving guidance.
42B. Oorlegplegingsproses vir gee van leiding - 43 Verify source ↗
Opleiding vir nakoming ten opsigte van anti-geldwassery,
AI-assisted research summary: Section 43 concerns training for compliance with anti-money laundering, financing, and financial sanctions obligations.
43. Opleiding vir nakoming ten opsigte van anti-geldwassery, finansiering en verpligtinge ten opsigte van finansiële sanksies teenterroriste- teenterroriste- 10 - 43B Verify source ↗
Registrasie deur verantwoordingspligtige instelling en verslagdoenings-
AI-assisted research summary: Section heading for registration by an accountable institution and a reporting institution.
43B. Registrasie deur verantwoordingspligtige instelling en verslagdoenings- instelling DEEL 5 Verwysing en toesighouding - 44 Verify source ↗
Verwysing van vermeende misdrywe na ondersoekowerhede en ander
AI-assisted research summary: This section concerns referring suspected offences to investigative authorities and other public bodies.
44. Verwysing van vermeende misdrywe na ondersoekowerhede en ander openbare liggame - 45 Verify source ↗
Verantwoordelikheid
AI-assisted research summary: Section 45 concerns responsibility for supervising accountable institutions.
45. Verantwoordelikheid vir toesighouding van verantwoordingspligtige instellings HOOFSTUK 4 NAKOMING EN AFDWINGING - 45A Verify source ↗
Aanstelling van inspekteurs
AI-assisted research summary: This section concerns the appointment of inspectors.
45A. Aanstelling van inspekteurs - 45C Verify source ↗
Administratiewe sanksies
AI-assisted research summary: Administrative sanctions.
45C. Administratiewe sanksies - 45E Verify source ↗
Instelling van appèlraad.
AI-assisted research summary: This section is about establishing an appeal board.
45E. Instelling van appèlraad. - 46 Verify source ↗
Versuim om persone te identifiseer
AI-assisted research summary: Section 46 concerns failing to identify persons.
46. Versuim om persone te identifiseer - 46A Verify source ↗
Versuim om plig in verband met klante-omsigtigheid na te kom
AI-assisted research summary: Section heading about failure to comply with a duty relating to customer due diligence.
46A. Versuim om plig in verband met klante-omsigtigheid na te kom - 47 Verify source ↗
Versuim om rekords te hou
AI-assisted research summary: Section 47 is titled “Versuim om rekords te hou” (“failure to keep records”).
47. Versuim om rekords te hou - 48 Verify source ↗
Vernietiging van of peuter met rekords
AI-assisted research summary: This section concerns destruction of or tampering with records.
48. Vernietiging van of peuter met rekords - 49 Verify source ↗
Versuim om bystand te verleen
AI-assisted research summary: This section concerns failure to render assistance.
49. Versuim om bystand te verleen - 49A Verify source ↗
Oortreding van verbodbepalings oor persone en entiteite deur Veiligheidsraad
AI-assisted research summary: This section concerns breaches of prohibition provisions relating to persons and entities identified by the United Nations Security Council.
49A. Oortreding van verbodbepalings oor persone en entiteite deur Veiligheidsraad van Verenigde Nasies geïdentifiseer - 50 Verify source ↗
Versuim om Sentrum oor kliënt in te lig
AI-assisted research summary: This section concerns failing to inform the Center about a client.
50. Versuim om Sentrum oor kliënt in te lig - 51 Verify source ↗
Versuim om kontanttransaksies te rapporteer
AI-assisted research summary: Section about failure to report cash transactions.
51. Versuim om kontanttransaksies te rapporteer - 51A Verify source ↗
Versuim om eiendom geassosieer met terroriste- en verwante aktiwiteite en
AI-assisted research summary: This section concerns failing to report property linked to terrorist and related activities and financial sanctions arising from UN Security Council resolutions.
51A. Versuim om eiendom geassosieer met terroriste- en verwante aktiwiteite en finansiële sanksies na aanleiding van resolusies van Veiligheidsraad van Verenigde Nasies te rapporteer - 52 Verify source ↗
Versuim om verdagte of ongewone transaksies te rapporteer
AI-assisted research summary: Provision heading about failing to report suspicious or unusual transactions.
52. Versuim om verdagte of ongewone transaksies te rapporteer - 53 Verify source ↗
Ongemagtigde openbaarmaking
AI-assisted research summary: Unauthorized disclosure.
53. Ongemagtigde openbaarmaking - 54 Verify source ↗
Versuim om vervoer van kontant of toonder verhandelbare instrument in
AI-assisted research summary: This section concerns failing to report transport of cash or bearer negotiable instruments into or out of the Republic.
54. Versuim om vervoer van kontant of toonder verhandelbare instrument in Republiek in of daaruit te rapporteer - 55 Verify source ↗
Versuim om verslag aan Sentrum te stuur
AI-assisted research summary: Section title: failure to send a report to the Centre.
55. Versuim om verslag aan Sentrum te stuur - 56 Verify source ↗
Versuim om elektroniese oorplasings te rapporteer
AI-assisted research summary: Section 56 concerns failure to report electronic transfers.
56. Versuim om elektroniese oorplasings te rapporteer - 57 Verify source ↗
Versuim om aan versoek te voldoen
AI-assisted research summary: This section is about failing to comply with a request.
57. Versuim om aan versoek te voldoen - 58 Verify source ↗
Versuim om opdrag van Sentrum na te kom
AI-assisted research summary: Section 58 is titled “Failure to comply with an instruction from the Center.”
58. Versuim om opdrag van Sentrum na te kom - 59 Verify source ↗
Versuim om moniteringsbevel na te kom
AI-assisted research summary: This section concerns failing to comply with a monitoring order.
59. Versuim om moniteringsbevel na te kom - 60 Verify source ↗
Verkeerde gebruik van inligting
AI-assisted research summary: 60. Verkeerde gebruik van inligting
60. Verkeerde gebruik van inligting - 61 Verify source ↗
Versuim om plig ten opsigte van Risikobestuur- en Nakomingsprogram na te
AI-assisted research summary: Failure to comply with a duty relating to a risk management and compliance programme.
61. Versuim om plig ten opsigte van Risikobestuur- en Nakomingsprogram na te kom - 61A Verify source ↗
Versuim om by Sentrum te registreer
AI-assisted research summary: Provision titled “Versuim om by Sentrum te registreer” about failing to register at the Centre.
61A. Versuim om by Sentrum te registreer - 61B Verify source ↗
Versuim om plig ten opsigte van beheer na te kom
AI-assisted research summary: Section 61B concerns failure to comply with a duty relating to control.
61B. Versuim om plig ten opsigte van beheer na te kom - 62 Verify source ↗
Versuim om opleiding te verskaf
AI-assisted research summary: Section 62 is titled “Failure to provide training.”
62. Versuim om opleiding te verskaf - 62A Verify source ↗
Misdrywe met betrekking tot inspeksie
AI-assisted research summary: This section is titled as an offence relating to inspection.
62A. Misdrywe met betrekking tot inspeksie - 62B Verify source ↗
Belemmering of dwarsboming van appèlraad
AI-assisted research summary: This section concerns obstructing or hindering the appeal board.
62B. Belemmering of dwarsboming van appèlraad - 62C Verify source ↗
Versuim om teenwoordig te wees wanneer gedagvaar
AI-assisted research summary: This section is titled “Failure to appear when summoned.”
62C. Versuim om teenwoordig te wees wanneer gedagvaar - 62D Verify source ↗
Versuim om volledig of waar te antwoord
AI-assisted research summary: Section title only; no rule text is provided in the source excerpt.
62D. Versuim om volledig of waar te antwoord 15 20 25 30 35 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za - 54 Verify source ↗
No. 47815
AI-assisted research summary: 54 No. 47815 GOVERNMENT GAZETTE, 29 DEcEMbER 2022 Act no. 22 of 2022 General Laws (Anti-Money Laundering and combating Terrorism Financing) Amendment Act, 2022 54
54 No. 47815 GOVERNMENT GAZETTE, 29 DEcEMbER 2022 Act no. 22 of 2022 General Laws (Anti-Money Laundering and combating Terrorism Financing) Amendment Act, 2022 54 - 62E Verify source ↗
Failure to comply with directives of Centre or supervisory body
AI-assisted research summary: This section concerns failure to comply with directives of the Centre or a supervisory body.
62E. Failure to comply with directives of Centre or supervisory body - 63 Verify source ↗
Obstructing of official in performance of functions
AI-assisted research summary: Section 63 is titled “Obstructing of official in performance of functions.”
63. Obstructing of official in performance of functions - 64 Verify source ↗
Conducting transactions to avoid reporting duties
AI-assisted research summary: Section 64 is titled “Conducting transactions to avoid reporting duties.”
64. Conducting transactions to avoid reporting duties . . . 65. . . . 66. . . . 67. Penalties 68. - 69 Verify source ↗
Defences
AI-assisted research summary: Section heading: “Defences”.
69. Defences 70. 71. Search, seizure and forfeiture Jurisdiction of courts CHAPTER 5 Indemnity MISCELLANEOUS
Part
CHAPTER 5
- 72 Verify source ↗
Act not to limit powers of investigating authorities or supervisory bodies
AI-assisted research summary: This section says the Act does not limit the powers of investigating authorities or supervisory bodies.
72. Act not to limit powers of investigating authorities or supervisory bodies - 73 Verify source ↗
Amendment of list of accountable institutions
AI-assisted research summary: Section 73 is titled “Amendment of list of accountable institutions” and refers to exemptions for accountable institutions and section 74.
73. Amendment of list of accountable institutions Exemptions for accountable institutions 74. - 75 Verify source ↗
Amendment of list of supervisory bodies
AI-assisted research summary: This section amends the list of supervisory bodies.
75. Amendment of list of supervisory bodies - 76 Verify source ↗
Amendment of list of reporting institutions
AI-assisted research summary: This section amends the list of reporting institutions.
76. Amendment of list of reporting institutions - 77A Verify source ↗
Arrangements for consultations with stakeholders
AI-assisted research summary: This section concerns arrangements for consultations with stakeholders.
77A. Arrangements for consultations with stakeholders 78. - 79 Verify source ↗
Amendment of laws
AI-assisted research summary: This section is titled “Amendment of laws.”
79. Amendment of laws - 79A Verify source ↗
Amendment of list of domestic politically exposed persons
AI-assisted research summary: This section amends the list of domestic politically exposed persons.
79A. Amendment of list of domestic politically exposed persons - 79B Verify source ↗
Amendment of list of foreign politically exposed persons
AI-assisted research summary: This section is titled as an amendment to the list of foreign politically exposed persons.
79B. Amendment of list of foreign politically exposed persons Status of footnotes 80. Transitional arrangements 81. 82. Short title and commencement Schedule 1 List of accountable institutions Schedule 2 List of supervisory bodies Schedule 3 List of reporting institutions Schedule 3A Domestic Politically Exposed Person Schedule 3B Foreign Politically Exposed Person Schedule 3C Prominent Influential Person Schedule 4 Amendment of sections of Prevention of Organised Crime Act, 1998 (Act No. 121 of 1998) Amendment of Promotion of Access to Information Act, 2000 (Act No. 2 of 2000)’’. 5 10 15 20 25 30 35 Amendment of section 1 of Act 71 of 2008, as amended by section 1(1) of Act 3 of 2011 and section 111 of Act 19 of 2012
Part
Schedule 4 Amendment of sections of Prevention of Organised Crime Act, 1998
- 55 Verify source ↗
Section 1 of the Companies Act, 2008, is hereby amended—
AI-assisted research summary: This section amends the Companies Act definitions of “affected company” and “beneficial owner.”
55. Section 1 of the Companies Act, 2008, is hereby amended— (a) by the insertion after the definition of ‘‘advertisement’’ of the following 40 definition: ‘‘ ‘affected company’ means a regulated company as set out in section 117(1)(i) and a private company that is controlled by or a subsidiary of a regulated company as a result of any circumstances contemplated in section 2(2)(a) or 3(1)(a);’’; and (b) by the insertion after the definition of ‘‘beneficial interest’’ of the following definition: ‘‘ ‘beneficial owner’, in respect of a company, means an individual who, directly or indirectly, ultimately owns that company or exercises effective control of that company, including through— (a) (b) the holding of beneficial interests in the securities of that company; the exercise of, or control of the exercise of the voting rights associated with securities of that company; the exercise of, or control of the exercise of the right to appoint or remove members of the board of directors of that company; (c) 45 50 55 This gazette is also available free online at www.gpwonline.co.za Wysigingswet op Algemene Wette (Teengeldwassery en bekamping van Terrorismefinansiering, 2022 Wet no. 22 van 2022 STAATSKOERANT, 29 DESEMbER 2022 No. 47815 55 - 62E Verify source ↗
Versuim om aan lasgewings van Sentrum of toesighoudende liggaam te
AI-assisted research summary: Section 62E concerns failure to comply with notices from the Centre or a supervisory body.
62E. Versuim om aan lasgewings van Sentrum of toesighoudende liggaam te 55 voldoen - 63 Verify source ↗
Dwarsboming van amptenaar in verrigting van werksaamhede
AI-assisted research summary: Section 63 is a heading about obstructing an officer while carrying out duties and transactions used to avoid a reporting duty.
63. Dwarsboming van amptenaar in verrigting van werksaamhede Sluiting van transaksies om verslagdoeningsplig te vermy 64. . . . 65. . . . 66. . . . 67. Strawwe 68. - 70 Verify source ↗
Deursoeking, beslaglegging en verbeurdverklaring
AI-assisted research summary: Section heading on search, seizure, and forfeiture.
70. Deursoeking, beslaglegging en verbeurdverklaring 71. Jurisdiksie van howe HOOFSTUK 5 ALLERLEI - 72 Verify source ↗
Wet mag nie bevoegdhede van ondersoekowerhede of toesighoudende liggame
AI-assisted research summary: This provision says the law may not limit the powers of investigative authorities or supervisory bodies.
72. Wet mag nie bevoegdhede van ondersoekowerhede of toesighoudende liggame beperk nie - 73 Verify source ↗
Wysiging van lys van verantwoordingspligtige instellings
AI-assisted research summary: Section 73 amends the list of accountable institutions.
73. Wysiging van lys van verantwoordingspligtige instellings - 74 Verify source ↗
Vrystellings vir verantwoordingspligtige instellings
AI-assisted research summary: This section concerns exemptions for accountable institutions.
74. Vrystellings vir verantwoordingspligtige instellings - 75 Verify source ↗
Vrystellings vir verantwoordingspligtige instellings
AI-assisted research summary: Section 75 is about exemptions for accountable institutions.
75. Vrystellings vir verantwoordingspligtige instellings - 76 Verify source ↗
Wysiging van lys van verslagdoeningsinstellings
AI-assisted research summary: This section concerns an amendment to the list of reporting institutions.
76. Wysiging van lys van verslagdoeningsinstellings - 77A Verify source ↗
Reëlings vir oorleg met belanghebbendes
AI-assisted research summary: Section 77A is titled “Arrangements for consultation with stakeholders.”
77A. Reëlings vir oorleg met belanghebbendes - 79 Verify source ↗
Wysiging van wette
AI-assisted research summary: This section is titled “Amendment of laws.”
79. Wysiging van wette - 79A Verify source ↗
Wysiging van lys van binnelandse politiesblootgesteldepersone
AI-assisted research summary: This section amends the list of domestic politically exposed persons.
79A. Wysiging van lys van binnelandse politiesblootgesteldepersone - 79B Verify source ↗
Wysiging van lys van buitelandse politiesblootgesteldepersone
AI-assisted research summary: This section is a heading indicating an amendment to the list of foreign politically exposed persons.
79B. Wysiging van lys van buitelandse politiesblootgesteldepersone 80. Status van voetnote - 81 Verify source ↗
Oorgangsbepalings
AI-assisted research summary: Transitional provisions.
81. Oorgangsbepalings - 82 Verify source ↗
Kort titel en inwerkingtreding
AI-assisted research summary: This section is titled “Kort titel en inwerkingtreding” and lists several schedules and amendment references.
82. Kort titel en inwerkingtreding Bylae 1 Bylae 2 Bylae 3 Bylae 3A Bylae 3B Bylae 3C Bylae 4 Lys van verantwoordingspligtige instellings Lys van toesighoudende liggame Lys van verslagdoeningsinstellings Binnelandse politiesblootgesteldepersoon Buitelandse politiesblootgesteldepersoon Vooraanstaande persoon met invloed Wysiging van artikels van Wet op Voorkoming van Georganiseerde Misdaad, 1998 (Wet No. 121 van 1998) Wysiging van Wet op die Bevordering van Toegang tot Inligting, 2000 (Wet No. 2 van 2000)’’. 5 10 15 20 25 30 35 Wysiging van artikel 1 van Wet 71 van 2008, soos gewysig deur artikel 1(1) van Wet 3 van 2011 en artikel 111 van Wet 19 van 2012 40 - 55 Verify source ↗
Artikel 1 van die Maatskappywet, 2008, word hierby gewysig—
AI-assisted research summary: This section amends the Companies Act by adding definitions for an “affected company” and an “ultimate beneficial owner.”
55. Artikel 1 van die Maatskappywet, 2008, word hierby gewysig— (a) deur die volgende omskrywing na die omskrywing van ‘‘genoteerde sekuriteite’’ in te voeg: ‘‘ ‘geraakte maatskappy’ ’n gereguleerde maatskappy soos uiteengesit in artikel 117(1)(i) en ’n private maatskappy wat beheer word deur ’n filiaal van ’n gereguleerde maatskappy as gevolg van enige omstandighede in artikel 2(2)(a) of 3(1)(a) beoog;’’; en (b) deur die volgende omskrywing na die omskrywing van ‘‘teenwoordig op ’n vergadering’’ in te voeg: ‘‘ ‘uiteindelik geregtigde’, ten opsigte van ’n maatskappy, ’n individu wat, regstreeks of onregstreeks, daardie maatskappy uiteindelik besit of doelmatige beheer oor daardie maatskappy uitoefen, insluitend deur— (a) die hou van voordelige belange in die sekuriteite van daardie maatskappy; (b) die uitoefening van, of beheer van die uitoefening van die stemregte wat met die sekuriteite van daardie maatskappy gepaard gaan; (c) die uitoefening van, of beheer van die uitoefening van die reg om lede van die direksie van daardie maatskappy aan te stel of te onthef; 45 50 55 This gazette is also available free online at www.gpwonline.co.za - 56 Verify source ↗
No. 47815
AI-assisted research summary: This text expands the meaning of control over a company to include beneficial interests, indirect control through ownership chains, control of related persons or entities, and material influence over management.
56 No. 47815 GOVERNMENT GAZETTE, 29 DEcEMbER 2022 Act no. 22 of 2022 General Laws (Anti-Money Laundering and combating Terrorism Financing) Amendment Act, 2022 56 (d) (e) the holding of beneficial interests in the securities, or the ability to exercise control, including through a chain of ownership or control, of a holding company of that company; the ability to exercise control, ownership or control, of— (i) a juristic person other than a holding company of that company; a body of persons corporate or unincorporate; a person acting on behalf of a partnership; a person acting in pursuance of the provisions of a trust agreement; or including through a chain of (ii) (iii) (iv) 5 10 (f) the ability to otherwise materially influence the management of that company;’’. Amendment of section 33 of Act 71 of 2008, as amended by section 23 of Act 3 of 2011 15 - 56 Verify source ↗
Section 33 of the Companies Act, 2008, is hereby amended—
AI-assisted research summary: The Commission must make the annual return electronically available to any person as prescribed.
56. Section 33 of the Companies Act, 2008, is hereby amended— (a) by the deletion in paragraph (a) of subsection (1) of ‘‘and’’; (b) by the insertion after paragraph (a) of subsection (1) of the following paragraphs: ‘‘(aA) a copy of the company’s securities register as required in terms of 20 (aB) section 50; a copy of the register of the disclosure of beneficial interest as required in terms of section 56(7)(aA); and’’; and (c) by the insertion after subsection (1) of the following subsection: ‘‘(1A) (a) The Commission must make the annual return contemplated 25 in subsection (1) available electronically to any person as prescribed. (b) The prescribed requirements referred to in paragraph (a) must be prescribed after consultation with the Minister of Finance and the Financial Intelligence Centre, established by section 2 of the Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001).’’. Amendment of section 50 of Act 71 of 2008, as amended by section 34 of Act 3 of 2011 - 57 Verify source ↗
Section 50 of the Companies Act, 2008, is hereby amended by the insertion after
AI-assisted research summary: Some companies must record beneficial ownership information in their securities register and keep it updated after ownership changes.
57. Section 50 of the Companies Act, 2008, is hereby amended by the insertion after subsection (3) of the following subsection: ‘‘(3A) (a) A company that does not fall within the meaning of an ‘affected company’ must record in its securities register prescribed information regarding the natural persons who are the beneficial owners of the company, in the prescribed form, and must ensure that this information is updated within the prescribed period after any changes in beneficial ownership have occurred. (b) The prescribed requirements referred to in paragraph (a) must be prescribed after consultation with the Minister of Finance and the Financial Intelligence Centre, established by section 2 of the Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001).’’. 30 35 40 Amendment of section 56 of Act 71 of 2008, as amended by section 36 of Act 3 of 2011 45 - 58 Verify source ↗
Section 56 of the Companies Act, 2008, is hereby amended—
AI-assisted research summary: An affected company must keep a register of disclosures made under this section.
58. Section 56 of the Companies Act, 2008, is hereby amended— (a) by the substitution for the heading of the section of the following heading: ‘‘Beneficial interest in securities and beneficial ownership of com- pany’’; (b) by the substitution in subsection (7) for the words preceding para- graph (a) and paragraph (a) of the following words and paragraph: 50 ‘‘(7) [A] An affected company must— (a) establish and maintain a register of the disclosures made in terms of this section; [and]’’; This gazette is also available free online at www.gpwonline.co.za Wysigingswet op Algemene Wette (Teengeldwassery en bekamping van Terrorismefinansiering, 2022 Wet no. 22 van 2022 STAATSKOERANT, 29 DESEMbER 2022 No. 47815 57 57 (d) die hou van voordelige belange in die sekuriteite, of die vermoë om beheer uit te oefen, insluitend deur ’n ketting van eienaarskap of beheer, van ’n houermaatskappy van daardie maatskappy; (e) die vermoë om beheer uit te oefen, insluitend deur ’n reeks van eienaarskap of beheer, van— (i) ’n regspersoon anders as ’n houermaatskappy van daardie maatskappy; ’n liggaam van persone ingelyf of oningelyf; ’n persoon wat namens ’n vennootskap handel; ’n trustooreenkoms handel; of persoon wat ingevolge bepalings van die ’n (ii) (iii) (iv) 5 10 (f) die vermoë om die bestuur van daardie maatskappy andersins wesenlik te beïnvloed;’’. Wysiging van artikel 33 van Wet 71 van 2008, soos gewysig deur artikel 23 van Wet 3 van 2011 15 - 56 Verify source ↗
Artikel 33 van die Maatskappywet, 2008, word hierby gewysig—
AI-assisted research summary: The Commission must make the annual return electronically available to any person as prescribed.
56. Artikel 33 van die Maatskappywet, 2008, word hierby gewysig— (a) deur in paragraaf (a) van subartikel (1) ‘‘en’’ te skrap; (b) deur die volgende subparagrawe na paragraaf (a) in subartikel (1) in te voeg: ‘‘(aA) ’n afskrif van die maatskappy se sekuriteiteregister soos (aB) ingevolge artikel 50 vereis; ’n afskrif van die register van die bekendmaking van voordelige belang soos ingevolge artikel 56(7)(aA) vereis; en’’; en (c) deur die volgende subartikel na subartikel (1) in te voeg: (b) Die voorgeskrewe vereistes in paragraaf ‘‘(1A) (a) Die Kommissie moet die jaarlikse opgawe in subartikel (1) beoog elektronies beskikbaar stel aan enige persoon soos voorgeskryf. (a) beoog, moet voorgeskryf word na oorleg met die Minister van Finansies en die Finansiële Intelligensiesentrum, ingestel by artikel 2 van die Wet op die Finansiële Intelligensiesentrum, 2001 (Wet No. 38 van 2001).’’. 20 25 Wysiging van artikel 50 van Wet 71 van 2008, soos gewysig deur artikel 34 van Wet 3 van 2011 30 - 57 Verify source ↗
Artikel 50 van die Maatskappywet, 2008, word hierby gewysig deur die volgende
AI-assisted research summary: Certain companies must record prescribed beneficial ownership information in their own securities register and keep it updated after changes.
57. Artikel 50 van die Maatskappywet, 2008, word hierby gewysig deur die volgende subartikel na subartikel (3) in te voeg: ‘‘(3A) (a) ’n Maatskappy wat nie in die betekenis van ‘geraakte maatskappy’ val nie, moet in hul eie sekuriteiteregister voorgeskrewe inligting aanteken oor die natuurlike persone wat die uiteindelik geregtigdes is van die maatskappy, op die voorgeskrewe vorm, en moet verseker dat hierdie inligting binne die voorgeskrewe tydperk opgedateer word nadat enige veranderinge in uiteindelike geregtigheid geskied het. (b) Die voorgeskrewe vereistes in paragraaf (a) bedoel, moet voorgeskryf word na oorleg met die Minister van Finansies en die Finansiële Intelligensiesentrum, ingestel by artikel 2 van die Wet op die Finansiële Intelligensiesentrum, 2001 (Wet No. 38 van 2001).’’. 35 40 Wysiging van artikel 56 van Wet 71 van 2008, soos gewysig deur artikel 36 van Wet 3 van 2011 45 - 58 Verify source ↗
Artikel 56 van die Maatskappywet, 2008, word hierby gewysig—
AI-assisted research summary: An affected company must establish and keep a register of disclosures made under this section.
58. Artikel 56 van die Maatskappywet, 2008, word hierby gewysig— (a) deur die opskrif van die artikel deur die volgende opskrif te vervang: ‘‘Voordelige belang in sekuriteite en uiteindelike geregtigheid van maatskappy’’; (b) deur in subartikel (7) die woorde wat paragraaf (a) voorafgaan en paragraaf 50 (a) deur die volgende woorde en paragraaf te vervang: ‘‘(7) ’n [Maatskappy wat binne die betekenis van ’n ‘‘gereguleerde maatskappy’’ val, soos in artikel 117(1)(i) uiteengesit word] Geraakte maatskappy, moet— (a) ’n register daarstel en in stand hou van die openbaarmakings wat ingevolge hierdie artikel gemaak word; [en]’’; 55 This gazette is also available free online at www.gpwonline.co.za - 58 Verify source ↗
No. 47815
AI-assisted research summary: Certain companies must file beneficial ownership records with the Commission and keep them updated; the Commission must maintain a register of that information.
58 No. 47815 GOVERNMENT GAZETTE, 29 DEcEMbER 2022 Act no. 22 of 2022 General Laws (Anti-Money Laundering and combating Terrorism Financing) Amendment Act, 2022 58 (c) by the insertion in subsection (7) after paragraph (a) of the following paragraph: ‘‘(aA) establish and maintain a register of the persons who hold beneficial interests equal to or in excess of 5% of the total number of securities of that class issued by the company, together with the extent of those beneficial interests, and ensure that this register is updated within the prescribed period after having received a notice contemplated in section 122(1); and (d) by the addition of the following subsections: ‘‘(12) A company that does not fall within the meaning of an ‘affected company’ must file a record with the Commission, in the prescribed form and containing the prescribed information, regarding the individuals who are the beneficial owners of the company, and must ensure that this information is updated by filing notices with the Commission within the prescribed period after any changes in beneficial ownership have occurred. (13) The prescribed requirements referred to in subsection (12) must be prescribed after consultation with the Minister of Finance and the Financial Intelligence Centre, established by section 2 of the Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001). (14) The Commission must maintain a register of the information contained in the records contemplated in subsections (7)(aA) and (12).’’. Amendment of section 69 of Act 71 of 2008, as amended by section 46 of Act 3 of 2011 and section 111 of Act of Act 19 of 2012 - 59 Verify source ↗
Section 69 of the Companies Act, 2008, is hereby amended—
AI-assisted research summary: This amendment requires certain companies to file and update beneficial ownership records with the Commission, keep a register of substantial beneficial interests, and requires the Commission to keep a register of the information.
59. Section 69 of the Companies Act, 2008, is hereby amended— (a) (b) in paragraph (b) of subsection (8) by the deletion in subparagraph (iii) of ‘‘or’’; in paragraph (b) of subsection (8) by the substitution for subparagraph (iv) of the following subparagraph: ‘‘(iv) has been convicted, in the Republic or elsewhere, and imprisoned without the option of a fine, or fined more than the prescribed amount, for theft, fraud, forgery, perjury or an offence— (aa) involving fraud, misrepresentation or dishonesty, or money laundering, terrorist financing, or proliferation financing activities as those terms are defined in section 1(1) of the Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001); or (bb) in connection with the promotion, formation or manage- ment of a company, or in connection with any act contemplated in subsection (2) or (5); or (cc) under this Act, the Insolvency Act, 1936, (Act 24 of 1936), the Close Corporations Act, 1984, the Competition Act, the Financial Intelligence Centre Act, 2001 [(Act 38 of 2001)], the Financial Markets Act, 2012, [or] Chapter 2 of the Prevention and Combating of Corrupt Activities Act, 2004 (Act 12 of 2004), the Protection of Constitu- tional Democracy Against Terrorist and Related Activi- ties Act, 2004 (Act 33 of 2004) or the Tax Administration Act, 2011 (Act 28 of 2011); or’’; (c) in paragraph (b) of subsection (8) by the insertion after subparagraph (iv) of the following subparagraph: ‘‘(v) when a person is subject to a resolution adopted by the Security Council of the United Nations when acting under Chapter VII of the Charter of the United Nations, providing for financial sanctions which entail the identification of persons or entities against whom member states of the United Nations must take the actions specified in the resolution.’’; and 5 10 15 20 25 30 35 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za Wysigingswet op Algemene Wette (Teengeldwassery en bekamping van Terrorismefinansiering, 2022 Wet no. 22 van 2022 STAATSKOERANT, 29 DESEMbER 2022 No. 47815 59 59 (c) deur die volgende paragraaf na paragraaf (a) in subartikel (7) in te voeg: ‘‘(aA) ’n register instel en byhou van die persone wat voordelige belange hou wat gelyk is aan of meer is as 5% van die totale getal sekuriteite van daardie klas deur die maatskappy uitgereik, saam met die omvang van daardie voordelige belange, en verseker dat daardie register binne die voorgeskrewe tydperk opgedateer word nadat ’n kennisgewing beoog in artikel 122(1) ontvang is; en’’; en (d) deur die volgende subartikels by te voeg: ‘‘(12) ’n Maatskappy wat nie binne die betekenis van ’n ‘geraakte maatskappy’ val nie, moet ’n rekord by die Kommissie indien, in die voorgeskrewe vorm en met die voorgeskrewe inligting aangaande die individue wat uiteindelik geregtigdes van die maatskappy is, en moet verseker dat hierdie inligting bygewerk word deur kennisgewings by die Kommissie in te dien binne die voorgeskrewe tydperk nadat enige veranderinge in uiteindelike geregtigheid geskied het. (13) Die voorgeskrewe vereistes in subartikel (12) bedoel, moet voorgeskryf word na oorleg met die Minister van Finansies en die Finansiële Intelligensiesentrum, ingestel by artikel 2 van die Wet op die Finansiële Intelligensiesentrum, 2001 (Wet No. 38 van 2001). 5 10 15 (14) Die Kommissie moet ’n register hou van die inligting vervat in 20 die rekords beoog in subartikels (7)(aA) en (12).’’. Wysiging van artikel 69 van Wet 71 van 2008, soos gewysig deur artikel 46 van Wet 3 van 2011 en artikel 111 van Wet 19 van 2012 - 59 Verify source ↗
Artikel 69 van die Maatskappywet, 2008, word hierby gewysig—
AI-assisted research summary: This provision amends section 69 of the Companies Act, 2008.
59. Artikel 69 van die Maatskappywet, 2008, word hierby gewysig— (a) deur in paragraaf (b) van subartikel (8) subparagraaf (iii) ‘‘of’’ te skrap; (b) deur in paragraaf (b) van subartikel (8) subparagraaf (iv) deur die volgende 25 subparagraaf te vervang: ‘‘(iv) in die Republiek of elders skuldig bevind is aan en gevangenisstraf uitgedien het sonder die opsie van ‘n boete, of met meer as die voorgeskrewe bedrag beboet is, vir diefstal, bedrog, meineed of ‘n misdaad— (aa) wat bedrog, wanvoorstelling of oneerlikheid, of geldwassery-, terrorismefinansierings-, of prolifierasie- finansieringsaktiwiteite, soos daardie terme omskryf word in artikel 1(1) van die Wet op die Finansiële Intelligensiesentrum, 2001 (Wet No. 38 van 2001), behels; of (bb) wat verband hou met die promosie, vorming of bestuur van ’n maatskappy, of in verband met enige daad beoog in subartikel (2) of (5); of op die (cc) kragtens hierdie Wet, die Insolvensiewet, 1936 (Wet 24 van 1936), die Wet op Beslote Korporasies, 1984, die Wet op Mededinging, Finansiële die Wet Intelligensiesentrum, 2001 [(Wet 38 van 2001)], die [Wet op Sekuriteitsdienste, 2004 (Wet 36 van 2004), of] ‘Financial Markets Act, 2012’ (Wet No. 19 van 2012), Hoofstuk 2 van die Wet op die Voorkoming en Bestryding van Korrupte Bedrywighede, 2004 (Wet 12 van 2004), Wet op Beskerming van Konstitusionele Demokrasie teen Terroriste- en Verwante Aktiwiteite, 2004 (Wet No. 33 van 2004), of die Wet op Belastingadministrasie, 2011 (Wet No. 28 van 2011); of’’; (c) deur in paragraaf (b) van subartikel (8) die volgende subparagraaf na subparagraaf (iv) in te voeg: ‘‘(v) wanneer ’n persoon onderhewig is aan ’n resolusie deur die Veiligheidsraad van die Verenigde Nasies, handelend kragtens Hoofstuk VII van die Handves van die Verenigde Nasies, wat voorsiening maak vir finansiële sanksie wat die identifikasie behels van persone of entiteite teen wie lidstate van die Verenigde Nasies die stappe in die resolusie gespesifiseer, moet doen.’’; en 30 35 40 45 50 55 60 This gazette is also available free online at www.gpwonline.co.za - 60 Verify source ↗
No. 47815
AI-assisted research summary: A disqualification under subsection (8)(b)(v) ends when the UN Security Council decides not to apply the resolution to the person concerned.
60 No. 47815 GOVERNMENT GAZETTE, 29 DEcEMbER 2022 Act no. 22 of 2022 General Laws (Anti-Money Laundering and combating Terrorism Financing) Amendment Act, 2022 60 (d) by the insertion after subsection (9) of the following subsection: ‘‘(9A) A disqualification in terms of subsection (8)(b)(v) ends when the Security Council of the United Nations takes a decision to no longer apply that resolution to a person contemplated in that subsection.’’. Amendment of section 122 of Act 71 of 2008, as amended by section 76 of Act 3 of 2011 5 - 60 Verify source ↗
Section 122 of the Companies Act, 2008, is hereby amended—
AI-assisted research summary: An affected company that receives a notice must file a record of it with the Commission in the prescribed form, with the prescribed information, within the prescribed period. The Commission must keep a register of the notice information.
60. Section 122 of the Companies Act, 2008, is hereby amended— in subsection (1) by the substitution for ‘‘a regulated’’ of ‘‘an affected’’; (a) (b) by the insertion after subsection (3) of the following subsection: ‘‘(3A) An affected company that has received a notice in terms of this section must file a record of that notice with the Commission, in the prescribed form and containing the prescribed information and within the prescribed period after having received that notice.’’; and (c) by the insertion after subsection (4) of the following subsections: ‘‘(5) The prescribed requirements referred to in subsection (3A) must be prescribed after consultation with the Minister of Finance and the Financial Intelligence Centre, established by section 2 of the Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001). (6) The Commission must maintain a register of the information contained in the notices contemplated in subsection (3A).’’. Amendment of Arrangement of Sections - 61 Verify source ↗
The Arrangement of Sections of the Companies Act, 2008, is hereby amended by
AI-assisted research summary: This provision amends the Companies Act’s arrangement of sections by replacing item 56 with a new heading about beneficial interest in securities and beneficial ownership of company.
61. The Arrangement of Sections of the Companies Act, 2008, is hereby amended by the substitution for item 56 of the following item: ‘‘56. Beneficial interest in securities and beneficial ownership of company’’. Amendment of section 159 of Act 9 of 2017 10 15 20 25 - 62 Verify source ↗
Section 159 of the Financial Sector Regulation Act, 2017, is hereby amended by
AI-assisted research summary: A significant owner of a financial institution must comply with a directive issued under subsection (2) or (3).
62. Section 159 of the Financial Sector Regulation Act, 2017, is hereby amended by the insertion after subsection (3) of the following subsection: ‘‘(4) A significant owner of a financial institution must comply with a directive issued in terms of subsection (2) or (3).’’. Insertion of Chapter 11A and sections 159A to 159C in Act 9 of 2017 30 - 63 Verify source ↗
The Financial Sector Regulation Act, 2017, is hereby amended by the insertion
AI-assisted research summary: This section inserts a new Chapter 11A on beneficial owners and defines “beneficial owner”; it also says a financial sector regulator may make standards, and the Minister, Reserve Bank, and a financial sector regulator are not beneficial owners in those capacities.
63. The Financial Sector Regulation Act, 2017, is hereby amended by the insertion after Chapter 11 of the following Chapter: ‘‘CHAPTER 11A BENEFICIAL OWNERS Beneficial owners 35 159A. (1) For the purposes of this Chapter, ‘‘beneficial owner’’ means a natural person who, directly or indirectly, ultimately owns a financial institution or exercises effective control of that financial institution. (2) The Minister, the Reserve Bank and a financial sector regulator are not, in those capacities, beneficial owners of a financial institution. 40 Standards in relation to beneficial owners 159B. (1) In addition to the powers in Part 2 of Chapter 7 to make standards, a financial sector regulator may make standards applicable to— This gazette is also available free online at www.gpwonline.co.za Wysigingswet op Algemene Wette (Teengeldwassery en bekamping van Terrorismefinansiering, 2022 Wet no. 22 van 2022 STAATSKOERANT, 29 DESEMbER 2022 No. 47815 61 61 (d) deur die volgende subartikel na subartikel (9) in te voeg: ’n Onbevoegdheid ingevolge subartikel ‘‘(9A) (8)(b)(v) eindig wanneer die Veiligheidsraad van die Verenigde Nasies ’n besluit neem om nie meer daardie resolusie toe te pas teen ’n persoon in daardie subartikel beoog nie.’’. Wysiging van artikel 122 van Wet 71 van 2008, soos gewysig deur artikel 76 van Wet 3 van 2011 - 60 Verify source ↗
Artikel 122 van die Maatskappywet, 2008, word hierby gewysig—
AI-assisted research summary: An affected company that receives a notice under this article must submit a record of the notice to the Commission in the prescribed way, with the prescribed information, within the prescribed period. The Commission must also keep a register of information in those notices.
60. Artikel 122 van die Maatskappywet, 2008, word hierby gewysig— (a) deur in subartikel (1) ‘‘ ’n gereguleerde’’ te vervang deur ‘‘ ’n geraakte’’; (b) deur na subartikel (3) die volgende subartikel in te voeg: ‘‘(3A) ’n Geraakte maatskappy wat ’n kennisgewing ingevolge hierdie artikel ontvang het, moet ’n rekord van daardie kennisgwing by die Kommissie ingee, op die voorgeskrewe wyse, met die voorgeskrewe inligting en binne die voorgeskrewe tydperk nadat daardie kennisgewing ontvang is.’’; en (c) deur die volgende subartikels na subartikel (4) in te voeg: ‘‘(5) Die voorgeskrewe vereistes in subartikel (3A) bedoel, moet voorgeskryf word na oorleg met die Minister van Finansies en die Finansiële Intelligensiesentrum, ingestel by artikel 2 van die Wet op die Finansiële Intelligensiesentrum, 2001 (Wet No. 38 van 2001). (6) Die Kommissie moet ’n register van die inligting vervat in die kennisgewings beoog in subartikel (3A), byhou.’’. Wysiging van Indeling van Artikels - 61 Verify source ↗
Die Indeling van Artikels van die Maatskappywet, 2008, word hierby gewysig
AI-assisted research summary: This provision amends the Companies Act, 2008 by replacing item 56 with new text.
61. Die Indeling van Artikels van die Maatskappywet, 2008, word hierby gewysig deur item 56 deur die volgende item te vervang: ‘‘56. Voordelige belang in sekuriteite en uiteindelike geregtigheid van maatskappy’’. Tlhabololo ya karolo 159 ya Molao 9 wa 2017 5 10 15 20 25 - 62 Verify source ↗
Karolo 159 ya Molao wa Taolo ya Lephata la Ditsˇhelete, 2017, o tlhabololwa ka
AI-assisted research summary: This provision amends section 159 by adding a new rule requiring a responsible officer of a financial institution to comply with directions issued under subsection (2) or (3).
62. Karolo 159 ya Molao wa Taolo ya Lephata la Ditsˇhelete, 2017, o tlhabololwa ka go tsenngwa morago ga karolotlaleletso (3) ga karolotlaleletso e e latelang: 30 ‘‘(4) Mong yo o botlhokwa wa setheo sa ditsˇhelete o tshwanetse go obamela ditaelo tse di rebotsweng go ya ka karolotlaleletso (2) kgotsa (3).’’. Go tsenngwa ga Kgaolo 11A le dikarolo 159A go fitlha go 159C mo Molaong 9 wa 2017 - 63 Verify source ↗
Molao wa Taolo ya Lephata la Ditsˇhelete, 2017, o tlhabololwa ka go tsenngwa
AI-assisted research summary: The Minister, the Reserve Bank, and the financial sector authority may not be owners of control of a financial institution in that capacity.
63. Molao wa Taolo ya Lephata la Ditsˇhelete, 2017, o tlhabololwa ka go tsenngwa 35 morago ga Kgaolo 11 ga Kgaolo e e latelang: ‘‘KGAOLO 11A BENG BA DIKUNGWELO Beng ba dikungwelo 159A. (1) Mabapi le maitlhomo a Kgaolo eno, ‘mong wa kungwelo’’ o kaya motho wa tlholego yo, ka tlhamalalo kgotsa e seng ka tlhamalalo, e leng mong wa setheo sa ditsˇhelete kgotsa yo o kgonang go laola ka nonofo setheo seo sa ditsˇhelete. (2) Tona, Banka ya Resefe le bolaodi jwa lephata la ditsˇhelete ga ba, mo 40 bokgoning joo, jwa go nna beng ba dikungwelo tsa setheo sa ditsˇhelete. 45 Maemo mabapi le beng ba dikungwelo 159B. (1) Mo godimo ga dithata tse di mo Karolong 2 ya Kgaolo 7 go dira maemo, bolaodi jwa lephata la ditsˇhelete bo ka dira maemo a a diriswang mo— This gazette is also available free online at www.gpwonline.co.za - 62 Verify source ↗
No. 47815
AI-assisted research summary: A financial sector regulator may direct a beneficial owner to take specified action if the owner has breached or is likely to breach a relevant financial sector law, and the beneficial owner must comply.
62 No. 47815 GOVERNMENT GAZETTE, 29 DEcEMbER 2022 Act no. 22 of 2022 General Laws (Anti-Money Laundering and combating Terrorism Financing) Amendment Act, 2022 62 (a) beneficial owners with respect to— (i) fit and proper requirements, in particular honesty and integrity; (ii) and reporting of relevant owner to the financial sector regulator; and information regarding the beneficial (b) financial institutions with respect to the— (i) (ii) identification and verification of beneficial owners; and reporting relevant information in respect of beneficial owners to the financial sector regulator. (2) Standards referred to in subsection (1) may— (a) prescribe what would or would not constitute direct or indirect ultimate ownership or control, or the ability to exercise such control, as contemplated in the definition of beneficial owner for purposes of section 159A; 5 10 (b) exclude specified persons from the definition of beneficial owner as 15 contemplated in section 159A; and (c) distinguish between different types and categories of beneficial owners. Regulator’s directives in relation to beneficial owners 159C. (1) (a) A financial sector regulator may issue to a beneficial owner a written directive requiring the beneficial owner to take action specified in the directive if the beneficial owner has contravened or is likely to contravene a financial sector law for which the financial sector regulator is the responsible authority. (b) A directive in terms of paragraph (a) must aim to stop the beneficial owner from contravening the financial sector law, or reducing the risk of such a contravention, and may include requiring the beneficial owner to take steps to cease being a beneficial owner. (2) A beneficial owner of a financial institution must comply with a directive issued in terms of subsection (1).’’. Amendment of long title of Act 9 of 2017 - 64 Verify source ↗
The long title of the Financial Sector Regulation Act, 2017, is hereby amended by
AI-assisted research summary: This section amends the Act’s long title by adding “and beneficial owners” after “significant owners.”
64. The long title of the Financial Sector Regulation Act, 2017, is hereby amended by the insertion after the words ‘‘significant owners’’ of the words ‘‘and beneficial owners’’. Amendment of Arrangement of Sections of Act 9 of 2017 - 65 Verify source ↗
The Arrangement of Sections of the Financial Sector Regulation Act, 2017, is
AI-assisted research summary: This section amends the arrangement of sections of the Financial Sector Regulation Act, 2017 by inserting new items after item 159, including Chapter 11A on beneficial owners.
65. The Arrangement of Sections of the Financial Sector Regulation Act, 2017, is hereby amended by the insertion after item 159 of the following items: ‘‘CHAPTER 11A BENEFICIAL OWNERS - 159A Verify source ↗
Beneficial owners
AI-assisted research summary: 159A. Beneficial owners
159A. Beneficial owners - 159B Verify source ↗
Standards in relation to beneficial owners
AI-assisted research summary: This section sets standards relating to beneficial owners.
159B. Standards in relation to beneficial owners - 159C Verify source ↗
Regulator’s directives in relation to beneficial owners’’.
AI-assisted research summary: The financial sector authority may issue a written directive to a beneficial owner, and the beneficial owner of a financial institution must comply with it.
159C. Regulator’s directives in relation to beneficial owners’’. 20 25 30 35 40 Short title and commencement 66. (1) This Act is called the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act, 2022, and takes effect on a date determined by the President by proclamation in the Gazette. 45 (2) Different dates may be determined by the President in respect of the taking effect of different provisions of this Act. This gazette is also available free online at www.gpwonline.co.za Wysigingswet op Algemene Wette (Teengeldwassery en bekamping van Terrorismefinansiering, 2022 Wet no. 22 van 2022 STAATSKOERANT, 29 DESEMbER 2022 No. 47815 63 63 (a) beng ba dikungwelo mabapi le— (i) ditlhokego tse di siameng e bile di le maleba, segolobogolo bonnete le tshiamo; le (ii) go begela bolaodi jwa lephata la ditsˇhelete tshedimosetso e e maleba e e ka ga mong wa dikungwelo; le (b) setheo sa ditsˇhelete mabapi le— tshupo le netefatso ya beng ba dikungwelo; le (i) (ii) go begela bolaodi jwa lephata la ditsˇhelete tshedimosetso e e maleba e e ka ga beng ba dikungwelo. (2) Maemo a a umakilweng mo karolotlaleletsong (1) a ka— (a) (b) (c) laela mabapi le seo bong kgotsa taolo ka tlhamalalo kgotsa e seng ka tlhamalalo e e feletseng e leng sona kgotsa e seng sona, kgotsa bokgoni jwa go diragatsa taolo eo, jaaka go umakilwe mo tlhalosong ya mong wa dikungwelo mabap le maitlhomo a karolo 159A; se akaretse batho ba ba tsepamisitsweng mo tlhalosong ya mong wa dikungwelo jaaka go umakilwe mo karolong 159A; e bile farologanya magareng ga mefuta le ditlhopha tse di farologaneng tsa beng ba dikungwelo. Ditaelo tsa bolaodi mabapi le beng ba dikungwelo 159C. (1) (a) Bolaodi jwa lephata la ditsˇhelete bo ka rebolela mong wa kungwelo taelo e e kwetsweng e e lopang mong wa kungwelo go tsaya kgato e e tsepamisitsweng mo taelong fa mong wa kungwelo a sa obamela kgotsa go lebega e kete ga a ne a obamela molao wa lephata la ditsˇhelete leo bolaodi jwa lephata la ditsˇhelete bo rwalang maikarabelo a lona. (b) Taelo go ya ka temana (a) e tshwanetse go lebiswa mo go direng gore mong wa kungwelo a se tlole molao wa lephata la ditsˇhelete, kgotsa mo go fokotseng matshosetsi a tlolomolao eo, e bile e ka akaretsa go lopa mong wa kungwelo go tsaya dikgato go emisa go nna mong wa kungwelo. (2) Mong wa kungwelo wa setheo sa ditsˇhelete o tshwanetse go obamela taelo e e rebotsweng go ya ka karolotlaleletso (1).’’. Tlhabololo ya setlhogo se seleele sa Molao 9 wa 2017 - 64 Verify source ↗
Setlhogo se se leele sa Molao wa Taolo ya Lephata la Ditsˇhelete, 2017, se
AI-assisted research summary: This provision amends the heading of the 2017 Financial Sector Regulation Act by inserting wording after a specified phrase.
64. Setlhogo se se leele sa Molao wa Taolo ya Lephata la Ditsˇhelete, 2017, se tlhabololwa ka go go tsenngwa morago ga mafoko ‘‘beng ba ba botlhokwa’’ ga mafoko ‘‘le beng ba dikungwelo’’. Tlhabololo ya Thulaganyo ya Dikarolo tsa Molao 9 wa 2017 - 65 Verify source ↗
Thulaganyo ya Dikarolo tsa Molao wa Taolo ya Lephata la Ditsˇhelete, 2017, e
AI-assisted research summary: This section amends the Financial Sector Regulation Act, 2017 by inserting new material after item 159.
65. Thulaganyo ya Dikarolo tsa Molao wa Taolo ya Lephata la Ditsˇhelete, 2017, e tlhabololwa ka go tsenngwa morago ga ntlha 159 ga dintlha tse di latelang: ‘‘KGAOLO 11A BENG BA DIKUNGWELO - 159A Verify source ↗
Beng ba dikungwelo
AI-assisted research summary: Section 159A is titled “Beng ba dikungwelo.”
159A. Beng ba dikungwelo - 159B Verify source ↗
Maemo mabapi le beng ba dikungwelo
AI-assisted research summary: Section 159B is titled “Maemo mabapi le beng ba dikungwelo.”
159B. Maemo mabapi le beng ba dikungwelo - 159C Verify source ↗
Ditaelo tsa bolaodi mabapi le beng ba dikungwelo’’.
AI-assisted research summary: The President may set the commencement date of the Act by proclamation in the Gazette, and different provisions may start on different dates.
159C. Ditaelo tsa bolaodi mabapi le beng ba dikungwelo’’. Kort titel en inwerkingtreding 66. (1) Hierdie Wet heet die Wysigingswet op Algemene Wette (Teengeldwassery en Bekamping van Terrorismefinansiering), 2022, en tree in werking op ’n datum deur die President by proklamasie in die Staatskoerant vasgestel. (2) Verskillende datums kan deur die President vasgestel word ten opsigte van die inwerkingtreding van verskillende bepalings van hierdie Wet. 5 10 15 20 25 30 35 40 45 This gazette is also available free online at www.gpwonline.co.za - 64 Verify source ↗
No. 47815
AI-assisted research summary: 64 No. 47815 GOVERNMENT GAZETTE, 29 DEcEMbER 2022 This gazette is also available free online at www.gpwonline.co.zaPrinted by and obtainable from the Government Printer, Bosman Street, Private Bag X85, Pretoria, 0001Contact Centre Tel:
64 No. 47815 GOVERNMENT GAZETTE, 29 DEcEMbER 2022 This gazette is also available free online at www.gpwonline.co.zaPrinted by and obtainable from the Government Printer, Bosman Street, Private Bag X85, Pretoria, 0001Contact Centre Tel: 012-748 6200. eMail: info.egazette@gpw.gov.zaPublications: Tel: (012) 748 6053, 748 6061, 748 6065
Provision text is displayed from LexChat’s stored statute record. Use the official source links to verify amendments, commencement, and current legal force.