Financial Sector Regulation Act

Part 4 of 8 · provisions 601–800

This provision text only shows headings and the table of contents for section 4 of the Financial Sector Regulation Act, 2017.

AI-assisted research synopsis — verify against the official legal text below.

Jurisdiction: South Africa
Instrument: Act or statute
Citation: Act 9 of 2017
Version: Undated source snapshot
Language: en
Updated: 22 Aug 2017
Official source: View official record ↗
Complete work: View statute overview

Ombud Council Reserve Bank concurrence account administration accountability accounting accounting authority accounting records acquisitions and disposals acting appointments administration administrative action administrative action procedures administrative law administrative penalties administrative powers administrative procedure administrative sanctions advertising alternative dispute resolution amalgamations amendment amendment to existing provision amendments annual financial statements +873 more

Publicly available, excluded from search-engine indexing

This page remains available for direct access and API use, but this release emits noindex,follow for the following reason:

The record does not meet this release's canonical indexing criteria. (market-indexing-disabled)

Statute overview

About this statute

This provision text only shows headings and the table of contents for section 4 of the Financial Sector Regulation Act, 2017. This section is titled “Application of other legislation” and introduces the Reserve Bank’s responsibility for financial stability. Heading for section 12 on monitoring of risks by the Reserve Bank. Section 14 is titled “Determination of systemic events.” This section heading refers to directives to financial sector regulators.

Read the provisions Ask with citations

Search within this statute

Search all stored provisions in this version.

Legal text

Provisions of Financial Sector Regulation Act

Showing 200 of 1,463

Part

Chapter 27 of the Criminal Procedure Act, 1977 (Act No. 51 of 1977).

173
The responsible authority that imposed an administrative penalty on a person
Verify source ↗

AI-assisted research summary: The responsible authority may, on application, remit all or part of an administrative penalty and related interest. A person generally may not agree to indemnify or compensate another person for payments or liabilities tied to an administrative penalty order, unless a joint standard says otherwise.

173. The responsible authority that imposed an administrative penalty on a person may, on application by the person, by order, remit all or some of the administrative penalty, and all or some of the interest payable in terms of section 169. 35 Prohibition of indemnity for administrative penalties 174. (1) Except in circumstances prescribed by a joint standard, a person may not undertake to indemnify or compensate another person, directly or indirectly, wholly or partly, in respect of a payment made or liability incurred by the other person in connection with an administrative penalty order imposed on the other person. 40 (2) An undertaking in terms of subsection (1) is void. This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 181 Tuelo 179
168
Madi a a duelwang go ya ka taelo ya kotlhao ya tsamaiso a a tshwanetseng go
Verify source ↗

AI-assisted research summary: Money payable as an administrative penalty must be paid and collected according to the regulations made for this Chapter.

168. Madi a a duelwang go ya ka taelo ya kotlhao ya tsamaiso a a tshwanetseng go duelwa le go duediswa jaaka go tlhalositswe mo Melawaneng e e diretsweng Kgaolo eno. Morokotso
169
Morokotso, ka kelo e e neetsweng nakwana go ya ka Prescribed Rate of Interest
Verify source ↗

AI-assisted research summary: Interest is payable on the unpaid portion of an administrative penalty until it is paid in full, and the enforcing authority may file a certified copy of the order with the court clerk if payment is not made and review has not been sought or has ended.

169. Morokotso, ka kelo e e neetsweng nakwana go ya ka Prescribed Rate of Interest Act, 1975 (Molao 55 wa 1975), o duelwa mabapi le karolo e e saduelwang ya tlhotlhwa e e duelwang jaaka kotlhao ya tsamaiso go ﬁtlhela o duetswe ka botlalo. Kgatelelo 170. (1) Bothati jo bo rwalang maikarabelo jo bo dirang taelo ya kotlhao ya tsamaiso bo ka faela kgatiso e e kanetsweng ya taelo le mokwadisi wa kgotlatshekelo e e nang le bokgoni fa— (a) madi a a duediswang go ya ka taelo a sa duelwa jaaka go tlhokega go ya ka taelo; le (b) gongwe— 5 10 15 (i) go se kopo ya tshekatsheko morago mabapi le molao wa lephata la ditsˇhelete kgatlhanong le go dirwa ga taelo e e dirilweng ka nako ya bokhutlo jwa paka ya go dira dikopo tseo; kgotsa fa kopo eo e dirilwe, tshekatsheko morago e fedisitswe kwa bofelong. (ii) (2) Taelo, fa e faelwa, e na le ditlamorago tsa katlholo ya selegae, e bile e ka gatelelwa 20 jaaka e kete go neilwe semolao kwa kgotlatshekelong eo. Tiriso ya madi a a duetsweng jaaka dikotlhao tsa tsamaiso
171
Madi otlhe a a bonweng ke bothati jo bo rwalang maikarabelo jaaka dikotlhao tsa
Verify source ↗

AI-assisted research summary: Money received as an administrative penalty must first cover the responsible authority’s reasonable investigation and enforcement costs, and any remaining balance must be paid into the National Revenue Fund.

171. Madi otlhe a a bonweng ke bothati jo bo rwalang maikarabelo jaaka dikotlhao tsa tsamaiso a tshwanetse go diriswa— (a) pele, go busetsa bothati jo bo rwalang maikarabelo madi a jona a dituelo le ditshenyegelo tseo bo di iponetseng ka mabaka le tshiamo mo go batlisiseng tlolo e e maleba, go dira taelo le go e gatelela; le (b) mme morago, tshalelo nngwe le nngwe morago ga tiriso ya madi go tsamaelana le temana (a) e tshwanetse go duelwa mo Letloleng la Lotseno la Bosetshaba. 25 30 Kotlhao ya tsamaiso e e tserweng mo katlholong
172
Fa go tlhomamiswa katlholo e e kanewang motho yo o bonweng molato go ya
Verify source ↗

AI-assisted research summary: When sentencing a convicted person, the court must consider any administrative penalty order made for the same facts.

172. Fa go tlhomamiswa katlholo e e kanewang motho yo o bonweng molato go ya ka molao wa lephata la ditsˇhelete, kgotlatshekelo e tshwanetse go ela tlhoko taelo ya kotlhao nngwe le nngwe ya tsamaiso e e dirilweng mabapi le sete e e tshwanang ya dintlha. Tebalelo melato ya dikotlhao tsa tsamaiso
173
Bothati jo bo rwalang maikarabelo jo bo duedisang motho kotlhao ya tsamaiso
Verify source ↗

AI-assisted research summary: An authority may, on application by a person, by order remit all or part of administrative penalties and related interest under section 169. A person must not, except in the stated combined circumstances, agree to avoid responsibility for or payment of another person’s liability tied to an administrative penalty order.

173. Bothati jo bo rwalang maikarabelo jo bo duedisang motho kotlhao ya tsamaiso bo ka, mo kopong ka motho, ka taelo, phimola dikotlhao tsotlhe kgotsa dingwe tsa dikotlhao tsa tsamaiso, le morokotso otlhe kgotsa nngwe ya morokotso o o duelwang go ya ka karolo 169. Thibelo ya polokego mabapi dikotlhao tsa tsamaiso 174. (1) Ntle le mo mabakeng a a neetsweng ke maemo a a kopantsweng, motho o ka se dumalane go se tseye maikarabelo kgotsa go duela motho yo mongwe, ka tlhamalalo kgotsa e seng ka tlhamalalo, ka botlalo kgotsa e seng ka botlalo, mabapi le tuelo e e dirilweng kgotsa molato o o iponetsweng ke motho yo mongwe mabapi le taelo ya kotlhao ya tsamaiso e e pateleditsweng motho yo mongwe. (2) Tumalano go ya ka karolotlaleletso (1) ga e na ditlamorago dipe. 35 40 45 This gazette is also available free online at www.gpwonline.co.za
182
No. 41060
Verify source ↗

AI-assisted research summary: The Ombud Council is established and treated as a juristic person and national public entity.

182 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 180 CHAPTER 14 OMBUDS Part 1 Ombud Council Ombud Council 175. (1) The Ombud Council is hereby established. (2) The Ombud Council is a juristic person. (3) The Ombud Council is a national public entity for the purposes of the Public Finance Management Act, and notwithstanding section 49(2) of the Public Finance Management Act, the Chairperson of the Ombud Council is the accounting authority of the Ombud Council for the purposes of that Act. Objective

Part

Part 1

176
The objective of the Ombud Council is to assist in ensuring that ﬁnancial
Verify source ↗

AI-assisted research summary: The Ombud Council must support and oversee ombud schemes, help financial customers access them, and act independently and impartially.

176. The objective of the Ombud Council is to assist in ensuring that ﬁnancial customers have access to, and are able to use, affordable, effective, independent and fair alternative dispute resolution processes for complaints about ﬁnancial institutions in relation to ﬁnancial products, ﬁnancial services, and services provided by market infrastructures. Functions of Ombud Council 177. (1) In order to achieve its objective, the Ombud Council must— (a) recognise, in accordance with this Chapter, industry ombud schemes; (b) promote co-operation between, and co-ordination of, the activities of ombuds; (c) (d) promote public awareness of ombuds and ombud schemes and the services strive to protect the independence and impartiality of ombuds; (e) (f) (g) they provide; take steps to facilitate access by ﬁnancial customers to appropriate ombuds; publicise ombud schemes, including publicising the kinds of complaints that different ombud schemes deal with; resolve, in accordance with this Act, overlaps of the jurisdictional coverage of different ombud schemes; (h) monitor the performance of ombud schemes, including the extent to which they comply with the requirements of this Chapter and speciﬁc ﬁnancial sector laws; and support ﬁnancial inclusion. (i) (2) The Ombud Council must also perform any other function conferred on it in terms of any other provision of this Act or other applicable legislation. (3) The Ombud Council may do anything else reasonably necessary to achieve its objective. (4) The Ombud Council must perform its functions without fear, favour or prejudice. Overall governance objective
178
The Ombud Council must—
Verify source ↗

AI-assisted research summary: The Ombud Council must run its affairs efficiently and effectively and put appropriate, effective governance systems and processes in place.

178. The Ombud Council must— (a) manage its affairs in an efficient and effective way; and (b) establish and implement appropriate and effective governance systems and processes. Board of Ombud Council 179. (1) A Board for the Ombud Council is hereby established. (2) The Board consists of— (a) the Chief Ombud; 5 10 15 20 25 30 35 40 45 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 183 181 KGAOLO 14 OMBUDS Karolo 1 Khansele ya Ombud Khansele ya Ombud 175. (1) Khansele ya Ombud e a tlhongwa. (2) Khansele ya Ombud ke setheo se se mo molaong. (3) Khansele ya Ombud ke setheo sa setsˇhaba sa bosetsˇhaba mabapi le maitlhomo a Public Finance Management Act le, go sa nyatswe karolo 49(2) ya Public Finance Management Act, Modulasetilo wa Khansele ya Ombud ke molaodi yo o rwalang maikarabelo wa Khansele ya Ombud mabapi le maitlhomo a Molao ono. Maithlomo
176
Maikaelelo a Khansele ya Ombud ke go thusa mo go netefatseng gore badirisi ba
Verify source ↗

AI-assisted research summary: The Ombud Council must support access to independent, impartial dispute-resolution ombud schemes and carry out specified oversight, awareness, facilitation, and related functions.

176. Maikaelelo a Khansele ya Ombud ke go thusa mo go netefatseng gore badirisi ba ditsˇhelete ba kgona go ﬁtlhelela, le go kgona go dirisa, dikgato tse dingwe tsa tharabololo ya dithulano tse di tuelo tlase, nonoﬁleng, ikemetseng le lolameng mo dingongoregong tse di ka ga ditheo tsa ditsˇhelete mabapi le dikuno tsa ditsˇhelete, ditirelo tsa ditsˇhelete, le ditirelo tse di tlamelwang ke dithulaganyetso tsa popego ya mmaraka. Ditiro tsa Khansele ya Ombud 177. (1) Gore e ﬁtlhelele maikaelelo a yona, Khansele ya Ombud e tshwanetse go— (a) amogela, go tsamaisana le Karolo eno, dikema tsa ombud tsa bodirelo; (b) (c) (d) tsweletsa pele tirisanommogo magareng, le thulaganyo ya ditiro tsa ombuds; leka go sireletsa go ikemela le go sa tseyeng letlhakore ga ombuds; tsweletsa pele temoso ya setsˇhaba ka ga ombuds le dikema tsa ombud le ditirelo tse ba di tlamelang; tsaya dikgato go nolofatsa phitlhelelo ya barekedi ditsˇhelete go ombuds tse di maleba; itsise setsˇhaba ka ga sekema sa ombud, go akaretsa go bega ka mefuta ya dingongorego tse diombud tse di farologaneng di samaganeng le tsona; rarabolola, go tsamaelana le Molao ono, ditshelepano tsa phitlhelelo ya lefelotaolo la dikema tse di farologaneng tsa ombud; tlhokomela tiro ya dikema tsa ombud, go akaretsa le bogolo jo di ikamanyang le ditlhokego tsa Kgaolo eno ka jona le melao e e tsepameng ya lephata la ditsˇhelete; le tsweletsa pele tsenyeletso ya ditsˇhelete. (e) (f) (g) (h) (i) (2) Khansele ya Ombud e tshwanetse gape go dira tiro nngwe le nngwe e e e roletsweng go ya ka kabelo nngwe le nngwe ya Molao ono kgotsa molawana mongwe le mongwe o o maleba. (3) Khansele ya Ombud e ka dira sengwe le sengwe gape se se tlhokegang ka mabaka go ﬁtlhelela maikaelelo a yona. 5 10 15 20 25 30 35 (4) Khansele ya Ombud e tshwanetse go dira tiro ya yona ntle le letshogo, 40 tseoletlhakore kgotsa kgobelelo. Maithlomo ka kakaretso puso
178
Khansele ya Ombud e tshwanetse go—
Verify source ↗

AI-assisted research summary: The Ombud Council must manage its affairs efficiently and establish and implement proper, efficient governance systems and measures.

178. Khansele ya Ombud e tshwanetse go— (a) (b) laola merero ya yona ka bokgoni le; le tlhoma le go diragatsa ditsamaiso tsa puso le dikgato tse di maleba e bile di na le bokgoni. 45 Boto ya Khansele ya Ombud 179. (1) Boto ya Khansele ya Ombud e a tlhongwa. (2) Boto e bopilwe ka— (a) Ombud yo Mogolo; 50 This gazette is also available free online at www.gpwonline.co.za
184
No. 41060
Verify source ↗

AI-assisted research summary: The Minister appoints Board members and must name a Chairperson and Deputy Chairperson; some people cannot serve in those roles or as Board members, and Board members have term and resignation rules.

184 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 182 (b) (c) the Commissioner; and at least four, but not more than six, other members. (3) The Commissioner does not have a vote on a question being considered by the Board. Appointment of Board members 180. (1) The members of the Board are appointed by the Minister. (2) (a) The Minister must appoint a member as Chairperson and another member as Deputy Chairperson. (b) The Commissioner and the Chief Ombud may not be appointed as Chairperson or Deputy Chairperson. (3) The Deputy Chairperson acts as Chairperson when the Chairperson is absent from office or is otherwise unable to perform his or her functions. (4) A person may not be appointed to, or hold office as, a member of the Board if the person is— a member of the staff of the Ombud Council; (a) an ombud; (b) a member of the governing body or staff of an ombud scheme; (c) (d) a disqualiﬁed person; (e) not ordinarily resident in the Republic; or (f) engaged in— (i) (ii) the business of a ﬁnancial institution; or the provision of ﬁnancial products or ﬁnancial services to ﬁnancial customers. Terms of office of Board members 181. (1) A person appointed as a member of the Board— 5 10 15 20 25 (a) holds office for a term of no longer than ﬁve years, as the Minister may (b) determine; is, at the expiry of that term of office, eligible for re-appointment for one further term; and (c) must vacate office before the expiry of a term of office if that person— 30 (i) (ii) resigns by giving at least three months written notice to the Minister, or a shorter period that the Minister may accept; or is removed from office. (2) The Minister must, at least three months before the end of a person’s ﬁrst term of office, inform the person whether or not the Minister intends to re-appoint the person as a member of the Board. 35 Service conditions of Board members
182
Provision
Verify source ↗

AI-assisted research summary: The Minister sets Board members’ terms of office and remuneration, may remove members for specified reasons, and must remove a disqualified member subject to due process.

182. A member of the Board holds office on the terms and conditions, including terms and conditions relating to remuneration, that are determined by the Minister. Removal of Board members 40 183. (1) The Minister must, subject to due process, remove a member of the Board from office if the member becomes a disqualiﬁed person. (2) The Minister may remove a member of the Board from office if an independent inquiry established by the Minister has found that the member— is unable to perform the duties of office for health or other reasons; (a) (b) has failed in a material way to discharge any of the responsibilities of office; 45 or (c) has acted in a way that is inconsistent with continuing to hold the office. (3) Without limiting subsection (2)(b), a member of the Board must be taken to have failed in a material way to discharge the responsibilities of office if he or she is absent from two consecutive meetings of the Board without the leave of the Board. 50 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 185 183 (b) Khomisˇenara; le (c) bonnye maloko a mangwe a le mane, mme e seng go feta thataro. (3) Khomisˇenara ga a na boutu mo potsong e e sekasekwang ke Boto. Go thapiwa ga maloko a Boto 180. (1) Maloko a Boto a athapiwa ke Tona. (2) (a) Tona o tshwanetse go thapa leloko jaaka Modulasetilo le leloko le lengwe 5 jaaka Motlatsamodulasetilo. (b) Khomisˇenara le Ombud yo Mogolo baka se thapiwe jaaka Modulasetilo kgotsa Motlatsamodulasetilo. (3) Motlatsamodulasetilo o tshwara marapo jaaka Modulasetilo fa Modulasetilo a 10 seyo kwa tirong kgotsa ka gongwe a sa kgone go dira tiro ya gagwe. (4) Motho o ka se thapiwe go nna, kgotsa go tshwara maemo a, Modulasetilo, Motlatsamodulasetilo kgotsa leloko la Boto fa motho yoo— (a) e le ombud; (b) e le leloko la mokgatlho o o busang kgotsa badirimmogo mo sekemeng sa 15 ombud; e le leloko la badirimmogo ba Khansele ya Ombud; (c) (d) a ileditswe; (e) (f) 20 25 e se ka tlwaelo moagi mo Rephaboliking; kgotsa a samagane le— (i) kgwebo ya setheo sa ditsˇhelete; kgotsa (ii) kabelo ya dikuno tsa ditsˇhelete kgotsa ditirelo tsa ditsˇhelete go barekedi ba ditsˇhelete. Para ya oﬁsi ya maloko a Boto 181. (1) Motho yo o thapilweng jaaka leloko la Boto— (a) o nna mo tirong sebaka sa paka e e safeteng dingwaga tse tlhano, jaaka Tona a ka tlhomamisa; (b) o, ka go ﬁtlha bokhutlong ga paka ya tiro, na le tshwanelo ya go ka thapiwa gape sebaka sa paka e le nngwe; le (c) o tshwanetse go tswa mo oﬁsing pele ga paka ya tiro e ya bokhutlong fa motho 30 yoo— (i) a rola tiro ka go naya Tona kitsiso e e kwetsweng ya bonnye dikgwedi tse tharo, kgotsa nako e khutshwane e Tona a ka e amogelang; kgotsa (ii) a ntshitswe mo oﬁsing. (2) Tona o tshwanetse, bonnye dikgwedi di le tharo pele ga bokhutlo jwa paka ya motho ya ntlha ya oﬁsi, go itsise motho fa e le gore Tona o ikaelela go thapa motho yoo gape jaaka leloko la Boto. 35 Mabaka a tirelo ya maloko a Boto
182
Leloko la Boto le thapiwa ka dipeelo le mabaka, go akaretsa le dipeelo le mabaka
Verify source ↗

182. Leloko la Boto le thapiwa ka dipeelo le mabaka, go akaretsa le dipeelo le mabaka tse di amanang le mogolo, tse di tlhomamisitsweng ke Tona. Go tloswa ga maloko a Boto 183. (1) Tona o tshwanetse, go ya ka dikgato tse di maleba, go tlosa leloko la Boto mo oﬁsing fa leloko le nna motho yo o ileditsweng. (2) Tona o ka tlosa leloko la Boto mo oﬁsing fa patlisiso e e ikemetseng e e tlhomilweng ke Tona e ﬁtlheletse gore leloko— (a) ga le kgone go dira ditiro tsa oﬁsi ka ntlha ya mabaka a boitekanelo kgotsa a (b) (c) mangwe; le paletswe ka gotlhe go diragatsa epe ya maikarabelo a oﬁsi; kgotsa le dirile ka mokgwa o o satsamaelaneng le ditlhokego tsa go tswelela go nna mo tirong. (3) Ntle le go lekanyetsa karolotlaleletso (2)(b), leloko la Boto le tshwanetse go tseelwa gore le paletswe ka mokgwa o o bonagalang go diragatsa maikarabelo a oﬁsi fa a sa nne teng mo dikopanong tse pedi tse di latelanang tsa Boto ntle le khunologo ya Boto. 40 45 50 This gazette is also available free online at www.gpwonline.co.za
186
No. 41060
Verify source ↗

AI-assisted research summary: The Minister may suspend a Board member if an independent inquiry has been established, and must send the inquiry report and findings to the National Assembly if the member is removed.

186 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 184 (4) If an independent inquiry has been established in terms of subsection (2), the Minister may suspend the member of the Board from office pending a decision on that person’s removal from office. (5) If a member of the Board is removed from office in terms of subsection (2), the Minister must submit the report and ﬁndings of the independent inquiry to the National Assembly. Role of Board
184
The Board must—
Verify source ↗

AI-assisted research summary: The Board must oversee the Ombud Council, handle committee and fee matters, keep the Minister and regulators informed, and meet regularly; the Chairperson controls meeting timing and minutes.

184. The Board must— (a) generally oversee the management and administration of the Ombud Council in order to ensure that it is efficient and effective; (b) appoint members of committees of the Ombud Council required or permitted by a law, and give directions regarding the conduct of the work of any committee; (c) make determinations of fees in terms of a ﬁnancial sector law; (d) keep the Minister informed of— (i) compliance by ombud schemes with the ﬁnancial sector laws in so far as (ii) (iii) they relate to ombud schemes; trends in the nature of complaints and issues raised in complaints that ombud schemes are dealing with, and how those types of issues and complaints are being dealt with; and the conduct of ﬁnancial institutions that is giving rise to complaints to ombud schemes; (e) keep the ﬁnancial sector regulators informed of the conduct of ﬁnancial (f) institutions that is giving rise to complaints to ombud schemes; and address any other matter assigned in terms of a ﬁnancial sector law to the Board. Meetings of Board 185. (1) (a) The Board must meet on a quarterly basis or as often as necessary for the performance of its functions. (b) An audio or audio-visual conference among a majority of the members of the Board, which enables each participating member to hear and be heard by each of the other participating members, must be regarded to be a meeting of the Board, and each participating member must be regarded as being present at such a meeting. (2) Meetings of the Board are to be at times and, except where subsection (1)(b) applies, at places determined by the Chairperson. (3) A quorum for a meeting of the Board is a majority of its members. (4) (a) The Chairperson chairs the meetings of the Board at which the Chairperson is present. (b) If the Chairperson is not present at a meeting, the Deputy Chairperson chairs the meeting. (5) The person chairing a meeting of the Board may invite or allow any other person to attend a meeting of the Board, but a person who is invited has no right to vote at the meeting. (6) The members may regulate proceedings at Board meetings as they consider appropriate. (7) The Chairperson must ensure that minutes of each meeting of the Board are kept in a manner determined by the Chairperson. Decisions of Board 186. (1) (a) A proposal before a meeting of the Board becomes a decision of the Board if a majority of the members who are present or regarded as being present, and who may vote, vote for the proposal. (b) In the event of an equality of votes on a proposal, the person chairing the meeting has a casting vote in addition to a deliberative vote. (2) The Board may, in accordance with procedures determined by the Board, make a decision on a proposal outside a meeting of the Board. 5 10 15 20 25 30 35 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 187 185 (4) Fa patlisiso e e ikemetseng e tlhomilwe go ya ka karolotlaleletso (2), Tona o ka emisa leloko la Boto go tla tirong go sa letilwe tshwetso ka go tloswa ga motho yoo mo oﬁsing. (5) Fa leloko la Boto le tlositswe mo tirong go ya ka karolotlaleletso (2), Tona o tshwanetse go romela pegelo le diphitlhelelo tsa patlisiso e e ikemetseng go Kokoano Bosetsˇhaba. Botsayakarolo jwa Boto
184
Boto e tshwanetse—
Verify source ↗

AI-assisted research summary: The Board must manage the Ombud Council’s administration, hold meetings regularly, and follow the stated voting and meeting rules.

184. Boto e tshwanetse— (a) ka kakaretso, go tlhokomela taolo le tsamaiso ya Khansele ya Bolaodi ya Ombud go netefatsa gore e na le bokgoni e bile e nonoﬁle; (b) gothapa maloko a komiti ya Khansele ya Bolaodi ya Ombud a a tlhokegang kgotsa letleletsweng ke molao, le go naya dikaelo mabapi le boitshwaro jwa tiro ya komiti e nngwe le e nngwe; (c) go dira ditlhomamiso tsa dituelo go ya ka molao wa lephata la ditsˇhelete; (d) go baya Tona mo leseding ka ga— (i) ikamanyo ya dikema tsa ombud le melao ya lephata la ditsˇhelete go ya ka moo di amanang le dikema tsa ombud; (ii) dingongorego tse dikema tsa ombud di samaganeng le tsona, le ka moo di sekasekwang ka teng; le 5 10 15 (iii) boitshwaro jwa ditheo tsa ditsˇhelete tse di dirang gore go nne le 20 dingongorego tse dintsi go dikema tsa ombud; (e) go baya balaodi ba lephata la ditsˇhelete mo leseding ka ga boitshwaro jwa ditheo tsa ditsˇhelete tse di dirang gore go nne le dingongorego tse dintsi tsa dikema tsa ditsˇhelete; le go sekaseka morero mongwe le mongwe o o neilweng Boto go ya ka molao wa lephata la ditsˇhelete. (f) Dikopano tsa Boto 185. (1) (a) Boto e tshwanetse go kopana kotare nngwe le nngwe kgotsa kgapetsakgapetsa jaaka go tlhokega go dira ditiro tsa yona. (b) Khonferense ya kutlo kgotsa kutlopono magareng ga bontsi jwa maloko a Boto, e e kgontshang leloko lengwe le lengwe le le tsayang karolo go utlwa le go utlwiwa ke leloko lengwe le lengwe la maloko a mangwe a a tsayang karolo, e tshwanetse go tsewa jaaka kopano ya Boto, e bile leloko lengwe le lengwe le le tsayang karolo le tshwanetse go tseelwa gore le teng kwa kopanong eo. (2) Dikopano tsa Boto di tshwanetse go tshwarwa ka nako le, ntle le moo karolotlaleletso (1)(b) e diriswang, kwa mafelong a a tlhomamisitsweng ke Modulasetilo. (3) Khoramo ya kopano ya Boto ke bontsi jwa maloko a yona. (4) (a) Modulasetilo o okamela dikopano tsa Boto tse Modulasetilo a leng teng mo go tsona. (b) Fa Modulasetilo a se teng kwa kopanong, Motlatsamodulasetilo o okamela kopano. (5) Motho yo o okametseng kopano ya Boto o ka laletsa kgotsa letla motho mongwe le mongwe go tla kopanong ya Boto, fela motho yo o laleditsweng ga a na tshwanelo ya go bouta kwa kopanong. (6) Maloko a ka laola ditsamaiso kwa kopanong ya Boto jaaka ba bona go tshwanetse. (7) Modulasetilo o tshwanetse go netefatsa gore metsotso ya kopano nngwe le nngwe e tsholwa ka mokgwa o o tlhomamisitsweng ke Modulasetilo. Ditshwetso tsa Boto 25 30 35 40 45 186. (1) (a) Tshitsinyo e e fapele ga kopano ya Boto e nna tshwetso ya Boto fa bontsi jwa maloko a a leng teng kgotsa a a tsewang gore a teng, le ba ba ka boutang, ba boutela tshitsinyo. 50 (b) Mo lebakeng la tekatekano ya diboutu mo tshitsinyong, motho yo o okameng kopano o ka dira boutu ya makgaolakgang mo godimo ga boutu ya tlwaelo. (2) Boto e ka, go tsamaelana le ditsamaiso tse di tlhomamisitsweng ke Boto, tsaya 55 tshwetso mo tshitsinyong kwa ntle ga kopano ya Boto. This gazette is also available free online at www.gpwonline.co.za
188
No. 41060
Verify source ↗

AI-assisted research summary: The Minister must appoint a Chief Ombud, who must agree in writing on performance measures and perform the Ombud Council’s functions subject to listed exceptions.

188 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 186 (3) A decision of the Board is not invalid merely because— (a) there was a vacancy in the office of a member when the decision was taken; or (b) a person who was not a member participated in the decision, but did not vote. Governance and other committees of Ombud Council 187. (1) The Board must establish— 5 (a) a committee to review, monitor and advise the Board on the remuneration policy of the Ombud Council; and (b) a committee to review, monitor and advise the Board on the risks faced by the Ombud Council and plans for managing those risks. (2) (a) The Board may establish one or more other committees for the Ombud 10 Council, with membership and functions as determined by the Board. (b) A committee may include persons who are not members of the Board. (3) A disqualiﬁed person may not be, or remain, a member of a committee. (4) A member of a committee holds office for the period, and on the terms and conditions, including, in the case of a person who is not in the service of an organ of state, terms regarding remuneration, determined by the Board. (5) (a) A committee established in terms of subsection (1) or section 51(1)(a)(ii) of the Public Finance Management Act must be chaired by a person who is not the Chairperson, the Deputy Chairperson or a staff member of the Ombud Council. 15 (b) The majority of the members of that committee may not be staff members of the 20 Ombud Council. (6) A committee determines its procedure, subject to any directions that may be issued by the Board. (7) The Chief Ombud must ensure that minutes of each meeting of a committee are kept in a manner determined by the Board. Chief Ombud 188. (1) The Minister must appoint a Chief Ombud, and the person appointed as such must agree with the Minister, in writing, on— (a) (b) the performance measures that must be used to assess the person’s performance; and the level of performance to be achieved against those measures. (2) Subject to this Act, the Chief Ombud holds office on the terms and conditions, including terms and conditions relating to remuneration, pension, leave and other beneﬁts, that are determined by the Board and speciﬁed in an employment contract between the Chief Ombud and the Ombud Council. (3) The Chief Ombud— (a) is responsible for the day-to-day management and administration of the Ombud Council; and (b) must perform the functions of the Ombud Council, except those mentioned in section 184(b) and (c), including exercising the powers and carrying out the duties associated with those functions. (4) (a) The Chief Ombud must convene meetings of the ombuds on a regular basis, but at least four times a year, to discuss the effective operation of the ombuds system. (b) The Chief Ombud, or, in the absence of the Chief Ombud, a person appointed by the Chief Ombud, chairs meetings of the ombuds; (c) If three ombuds request the Chief Ombud in writing to convene a meeting of the Ombud Council, a meeting of the ombuds must be convened. (5) When acting in terms of subsection (3), the Chief Ombud must implement the policies and strategies adopted by the Board. Duties of Board members 189. (1) A member of the Board must— (a) act honestly in all matters relating to the Ombud Council; and 25 30 35 40 45 50 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 189 187 (3) Tshwetso ya Boto ga e tlhoke go amogelesega fela ka ntlha ya gore— (a) go ne go na le phatlatiro kwa oﬁsing ya leloko fa go ne go tsewa tshwetso; kgotsa (b) motho yo e neng e se leloko o tsere karolo mo tshwetsong. Puso le dikomiti tse dingwe tsa le Khansele ya Ombud 5 187. (1) Boto e tshwanetse go tlhoma— (a) komiti go gakolola Boto ka pholisi ya mogolo ya Khansele ya Ombud; le (b) komiti go sekaseka, tlhokomela le go gakolola Boto ka ga dikotsi tse Khansele ya Ombud e lebaganeng le tsona le maano a go laola dikotsi tseo. (2) (a) Boto e ka tlhoma komiti kgotsa tse dingwe tse dintsi mabapi le Khansele ya 10 Ombud, ka botokololo le ditiro jaaka di tlhomamisitswe ke Boto. (b) Komiti e ka akaretsa batho bao e seng maloko a Boto. (3) Motho yo o ileditsweng o ka se nne, kgotsa o ka se tswelele go nna, leloko la komiti. (4) Leloko la komiti le dira sebaka sa paka, le go ya ka dipeelo le mabaka, go akaretsa, mo lebakeng la motho yo o seng mo tirelong ya lekala la puso, dipeelo mabapi le mogolo, di tlhomamiswa ke Boto. (5) (a) Komiti e e tlhomilweng go ya ka karolotlaleletso (1) kgotsa karolo 51(1)(a)(ii) ya Public Finance Management Act e tshwanetse go okamelwa ke motho yo e seng Modulasetilo kgotsa leloko la badirimmogo la Khansele ya Ombud. 15 20 (b) Bontsi jwa maloko a komiti eo bo ka se nne maloko a badirimmogo ba Khansele ya Ombud. (6) Komiti e tlhomamisa tsamaiso ya yona, go ya ka dikaelo tse di ka rebolwang ke Boto. (7) Ombud yo Mogolo o tshwanetse go netefatsa gore metsotso ya kopano nngwe le 25 nngwe e tsholwa go ya ka mokgwa o o tlhomamisitsweng ke Boto. Ombud yo mogolo 188. (1) Tona o tshwanetse go thapa Ombud yo Mogolo e bile motho yo o thapilweng jalo o tshwanetse go dumela, ka go kwala, ka ga— (a) ditekanyetsotiro tse di tshwanetseng go diriswa go lekanyetsa tiro ya motho 30 yo o umakilweng; le (b) boemo jwa tiro jo bo tshwanetseng go ﬁtlhelelwa kgatlhanong le ditekanyetso tseo. (2) Go tsamaelana le Molao ono, Ombud yo Mogolo o dira go ya ka dipeelo le mabaka, go akaretsa le dipeelo le mabaka tse di amanang le mogolo, phensˇene, khunologo le dikunomolemo tse dingwe, tse di tlhomamisitsweng ke Boto le go tsepamiswa mo konterakeng ya tiro magareng ga Ombud yo Mogolo le Khansele ya Ombud. 35 (3) Ombud yo Mogolo wa Khansele ya Ombud— (a) o rwala maikarabelo a bolaodi le tsamaiso tsa letsatsi le letsatsi tsa Khansele 40 ya Bolaodi ya Ombud; le (b) o tshwanetse go dira ditiro tsa Khansele ya Ombud, ntle le tse di kailweng mo karolong 184(b) le (c), go akaretsa le go diragatsa dithata le go dira ditiro tse di amanang le ditiro tseo. (4) (a) Ombud yo mogolo o tshwanetse go bitsa kopano le go okamela dikopano tsa ombuds kgapetsakgapetsa, mme fela bonnye makgetlo a le mane ka ngwaga, go sekaseka tsamaiso e e nonoﬁleng ya dithulaganyo tsa ombuds. (b) Ombud yo Mogolo, kgotsa, fa Ombud yo Mogolo a se teng, motho yo o 45 thapilweng ke Ombud yo Mogolo, o okamela dikopano tsa ombuds. (c) Fa boombuds ba bararo ba kwalela Ombud yo Mogolo go mo kopa go bitsa 50 kopano ya Khansele ya Ombud, kopano ya boombuds e tshwanetse go tshwarwa. (5) Fa a dira go ya ka karolotlaleletso (3), Ombud yo Mogolo o tshwanetse go tsenya dipholisi le maano tse di amogetsweng ke Boto mo tirsong. Ditiro tsa maloko a Boto 189. (1) Leloko la Boto le tshwanetse go— 55 (a) dira ka boikanyego mo mererong yotlhe e e amanang le Khansele ya Ombud; le This gazette is also available free online at www.gpwonline.co.za
190
No. 41060
Verify source ↗

AI-assisted research summary: The Chief Ombud may delegate powers or duties in writing, the Ombud Council may hire and contract in accordance with law, and board or staff members may not misuse their position or information for improper benefit or detriment.

190 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 188 (b) perform his or her functions as a member— in good faith; for a proper purpose; and (i) (ii) (iii) with the degree of care and diligence that a reasonable person in the member’s position would exercise. (2) A person who is or was a member of the Board may not use that position, or any information obtained as a member of the Board, to— (a) (b) (c) improperly beneﬁt himself, herself or another person; impede the Ombud Council’s ability to perform its functions; or cause improper detriment to another person. (3) For the purposes of this section, ‘‘beneﬁt’’ and ‘‘detriment’’ are not limited to ﬁnancial beneﬁt or detriment. Delegations 190. (1) The Chief Ombud may, in writing— (a) delegate any of his or her powers or duties in terms of a ﬁnancial sector law, except the power to delegate contained in this subsection, to a staff member of the Ombud Council; and (b) at any time, amend or revoke a delegation made in terms of paragraph (a), subject to any rights that may have accrued. 5 10 15 (2) A delegation in terms of subsection (1) may be to a speciﬁc person or to a person 20 holding a speciﬁc position. (3) A delegation in terms this section— is subject to the limitations and conditions speciﬁed in the delegation; and (a) (b) does not divest the Chief Ombud of responsibility in respect of the delegated power or duty. (4) Anything done by a delegate in terms of the delegation must be regarded as having been done by the Ombud Council. Staff and resources 191. (1) The Ombud Council may, in accordance with applicable law— engage persons on contract otherwise than as employees; (a) engage persons as employees; (b) enter into secondment arrangements; (c) (d) enter into contracts; (e) (f) acquire and dispose of property; insure itself against any loss, damage, risk or liability that it may suffer or incur; and (g) do anything else necessary for the performance of its functions. (2) The Ombud Council may not enter into a secondment arrangement in respect of a person, or engage persons as employees or on contract, unless the person and the Ombud Council have agreed in writing, on— (a) (b) the performance measures that must be used to assess that person’s performance; and the level of performance to be achieved against those measures. Duties of staff members 25 30 35 40 192. (1) A person who is or was a staff member of the Ombud Council may not use 45 that position or any information obtained as a staff member to— improperly beneﬁt himself, herself or another person; impede the Ombud Council’s ability to perform its functions; or cause improper detriment to another person. (a) (b) (c) (2) For the purposes of this section, ‘‘beneﬁt’’ and ‘‘detriment’’ are not limited to 50 ﬁnancial beneﬁt or detriment. This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 191 189 (b) dira ditiro tsa gagwe jaaka leloko— (i) ka maikaelelo a a nepagetseng; (ii) ka maitlhomo a nnete; le (iii) ka maemo a tlhokomelo le kelotlhoko ao motho yo o siameng yo o mo maemong a leloko a ka a dirgatsang. (2) Motho yo e leng kgotsa yo e neng e le leloko la Boto o ka se dirise maemo ao, kgotsa tshedimosetso nngwe le nngwe e e ﬁtlheletsweng jaaka leloko la Boto, go— (a) una molemo ka boena kgotsa go dira motho yo mongwe a une molemo ka tsela e e sa siamang; (b) kgoreletsa Khansele ya Ombud go dira tiro ya yona; kgotsa (c) thatafaletsa motho yo mongwe. (3) Mabapi le maitlhomo a karolo eno, ‘‘kunomolemo’’ le ‘‘thatafaletso’’ ga di a lekanyetswa go kunomolemo ya ditsˇhelete kgotsa thatafaletso ya ditsˇhelete. Ditholelo 190. (1) Ombud yo Mogolo o ka, ka go kwala— 5 10 15 (a) rolela nngwe le nngwe ya dithata kgotsa ditiro go ya ka molao wa lephata la ditsˇhelete, ntle le thata ya go rolela e e ﬁtlhelwang mo karolotlaleletsong eno, go leloko la badirimmogo la Khansele ya Ombud; le (b) ka nako nngwe le nngwe, tlhabolola kgotsa phimola tholelo e e dirilweng go ya ka temana (a), go tsamaelana le ditshwanelo tse di ﬁtlheletsweng. (2) Tholelo go ya ka karolotlaleletso (1) e ka direlwa motho yo o rileng kgotsa motho 20 yo o tshwereng maemo a a rileng. (3) Tholelo go ya ka kgaolo eno— (a) e go ya ka ditekanyetso le mabaka tse di tsepamisitsweng mo tholelong; le (b) ga e amoge Ombud yo Mogolo maikarabelo mabapi le thata kgotsa tiro e e 25 roletsweng. (4) Sengwe le sengwe se se dirilweng ke boemedi mabapi le tholelo se tshwanetse go tsewa jaaka se dirilwe ke Khansele ya Ombud. Badiri le ditlamelwana 191. (1) Khansele ya Ombud e ka, go tsamaelana le molao o o diriswang— 30 (a) dirisana le batho jaaka badiri; kgotsa (b) dira thulaganyo ya tshutiso ya nakwana ya modiri; (c) buisana le batho ka ga konteraka go na le jaaka e le badiri; (d) dira dikonteraka; (e) phitlhelelo le phetiso ya thoto; (f) insˇora kgatlhanong le tatlhegelo, tshenyegelo, kotsi kgotsa molato tse e ka di itemogelang kgotsa ya nna ka fa tlase ga tsona; le (g) dira sengwe le sengwe se se tlhokegang gore e kgone go dira tiro ya yona. (2) Khansele ya Ombud e ka se dire thulaganyo ya tshutiso ya nakwana ya modiri mabapi le motho, kgotsa ya dirisana le batho jaaka badiri kgotsa mo konterakeng, ntle le fa motho le Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete ba dumalane ka go kwala mabapi le— (a) ditekanyetsotiro tse di tshwanetseng go diriswa go lekanyetsa tiro ya motho; 35 40 le (b) boemo jwa tiro jo bo tshwanetseng go ﬁtlhelelwa kgatlhanong le ditekanyetso 45 tseo. Ditiro tsa maloko a badiri 192. (1) Motho yo e leng kgotsa yo e neng e le leloko la badirimmogo ba Khansele ya Ombud o ka se dirise maemo ao kgotsa tshedimosetso nngwe le nngwe e a e boneng jaaka leloko la badirimmogo go— 50 (a) una molemo ka boena kgotsa go dira motho yo mongwe a une molemo ka tsela e e sa siamang; (b) kgoreletsa Khansele ya Ombud go dira ditiro tsa yona; kgotsa (c) thatafaletsa motho yo mongwe. (2) Mabapi le maitlhomo a karolo eno, ‘‘kunomolemo’’ le ‘‘thatafaletso’’ ga di a 55 lekanyetswa go kunomolemo ya ditsˇhelete kgotsa thatafaletso ya ditsˇhelete. This gazette is also available free online at www.gpwonline.co.za
192
No. 41060
Verify source ↗

AI-assisted research summary: Board members, committee members, Ombud Council staff, and the Chief Ombud must disclose relevant interests, and some people may not take part in related decisions unless disclosure and other-member approval conditions are met.

192 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Disclosure of interests 190 193. (1) A member of the Board must disclose, at a meeting of the Board, or in writing to each of the other members, any interest in a matter that is being or will be considered by him or her, whether or not at a meeting of the Board, being an interest that— the member has; or (a) (b) a person who is a related party to the member has. (2) A disclosure in terms of subsection (1) must be given as soon as practicable after the member concerned becomes aware of the interest. (3) A member referred to in subsection (1) may not perform a function in relation to the matter concerned unless— (a) (b) the member has disclosed the interest in accordance with subsection (1); and the other members of the Board have decided that the interest cannot be seen as affecting the member’s proper execution of his or her functions in relation to the matter. (4) A member of a committee of the Ombud Council established in terms of section 51(1)(a)(ii) of the Public Finance Management Act or section 187(1) of this Act must disclose, at a meeting of the committee, or in writing to each of the other members of that committee, any interest in a matter that is being or is intended to be considered by that committee, being an interest that— the member has; or (a) (b) a person who is a related party to the member has. (5) A disclosure in terms of subsection (4) must be given as soon as practicable after the member concerned becomes aware of the interest. (6) A person referred to in subsection (1) or (4) may not participate in the consideration of, or decision on, that matter by the Board or the committee, as the case may be, unless— (a) (b) the person has disclosed the interest in accordance with subsection (1) or (4); and the other members of the Board or that committee have decided that the interest cannot be seen as affecting the member’s proper execution of his or her functions in relation to the matter. (7) (a) Each member of the Ombud Council’s staff and each other person involved in the performance of the functions or the exercise of the powers of the Ombud Council must make timely, proper and adequate disclosure of their interests, including the interests of a related party, that could reasonably be seen as interests that may affect the proper execution of their functions of office or a delegated power. (b) The Chief Ombud must ensure that paragraph (a) is complied with. (8) For the purposes of this section, it does not matter— (a) whether an interest is direct, indirect, pecuniary or non-pecuniary; or (b) when the interest was acquired. (9) For the purposes of this section, a person does not have to disclose— (a) the fact that that person, or a person who is a related party to that person, is— (i) an official or employee of the Ombud Council; or (ii) a ﬁnancial customer of a ﬁnancial institution; or (b) an interest that is not material. (10) The Chief Ombud must maintain a register of all disclosures made in terms of this section and of all decisions made in terms of this section. Part 2 Recognition of industry ombud schemes Recognition of industry ombud schemes 194. (1) The Ombud Council may, on application by an industry ombud scheme, recognise the industry ombud scheme for the purposes of this Act. (2) An application in terms of subsection (1) must— (a) be in writing, in a form approved or accepted by the Ombud Council; and (b) include or be accompanied by— (i) a copy of the governing rules of the industry ombud scheme; 5 10 15 20 25 30 35 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 193 Tshenolo ya dikgatlhegelo 191 193. (1) Leloko la Boto le tshwanetse go senola, kwa kopanong ya Boto, kgotsa ka go kwalela mongwe le mongwe wa maloko a mangwe, kgatlhegelo nngwe le nngwe mo morerong o o kgotsa o o tla sekasekwang ke ena, e ka nna kgotsa e se kwa kopanong ya Boto, e le kgatlhego e— 5 leloko le nang le yona; kgotsa (a) (b) motho yo o amanang le leloko a nang le yona. (2) Tshenolo go ya ka karolotlaleletso (1) e tshwanetse go dirwa ka bonako jo bo kgonagalang morago ga fa leloko le le amegang le sena go itse ka kgatlhego eo. (3) Leloko le le kailweng mo karolotlaleletsong (1) le ka se dire tiro e e mabapi le 10 morero o o amegang ntle le fa— (a) leloko le senotse kgatlhegelo go tsamaelana le karolotlaleletso (1); le (b) maloko a mangwe a Boto a sweditse gore kgatlhegelo e ka se tseelwe gore e ama go dira ka manontlhotlho ga leloko mabapi le morero. (4) Leloko la komiti ya Khansele ya Ombud e e tlhomilweng go ya ka karolo 51(1)(a)(ii) ya Public Finance Management Act kgotsa karolo 187(1) ya Molao ono le tshwanetse go senola, kwa kopanong ya komiti, kgotsa ka go kwalela mongwe le mongwe wa maloko a komiti eo, kgatlhegelo nngwe le nngwe mo morerong o o sekasekwang kgotsa o komiti e e ikaelelang go o sekaseka, e le kgatlhego e— leloko le nang le yona; kgotsa (a) (b) motho yo o amanang le leloko a nang le yona. (5) Tshenolo go ya ka karolotlaleletso (4) e tshwanetse go dirwa ka bonako jo bo kgonagalang morago ga fa leloko le le amegang le sena go itse ka kgatlhegelo. (6) Motho yo o kailweng mo karolotlaleletsong (1) kgotsa (4) o ka se tseye karolo mo tshekatshekong ya, kgotsa tshwetso ka ga, morero oo ke Boto kgotsa komiti, go ya ka maemo a mabaka, ntle le fa— (a) motho a senotse kgatlhegelo go ya ka karolotlaleletso (1) kgotsa (4); le (b) maloko a mangwe a Boto kgotsa komiti eo a sweditse ka gore kgatlhegelo eo e ka se tseelwe gore e ama go dira ka manontlhotlho ga leloko mabapi le morero. (7) (a) Leloko lengwe le lengwe la badiri ba Khansele ya Bolaodi ya Ombud le motho mongwe le mongwe yo o amegang mo go direng tiro kgotsa mo tiragatsong ya dithata tsa Khansele ya Ombud le tshwanetse go dira tshenolo ya dikgatlhegelo ka nako, nepagalo le tshiamo, go akaretsa le dikgatlhego tsa mokgatlho o o amegang, tse di ka tsewang ka mabaka jaaka dikgatlhegelo tse di ka amang go dira ka manontlhotlho ga gagwe ditiro tsa oﬁsi kgotsa thata e e roletsweng. (b) Ombud yo Mogolo o tshwanetse go netefatsa gore temana (a) e a obamelwa. (8) Mabapi le maitlhomo a karolo eno, ga go kgathalesege— (a) gore kgatlhegelo e tlhamaletse, ga e a tlhamalala, ke ya tsˇhelete kgotsa ga se ya tsˇhelete; kgotsa (b) gore kgatlhegelo e ﬁtlheletswe leng. (9) Mabapi le maitlhomo a karolo eno, motho o ka nna a se senole— (a) ntlha ya gore motho yoo, kgotsa motho yo a amanang le ena, ke— (i) motlhankedi kgotsa modiri wa Khansele ya Ombud; kgotsa (ii) modirisi wa ditsˇhelete wa setheo sa ditsˇhelete; kgotsa (b) kgatlhegelo e e seng ya botlhokwa. (10) Ombud yo Mogolo o tshwanetse go tshola rejisetara ya ditshenolo tsotlhe tse di dirilweng go ya ka karolo eno le ditshwetso tsotlhe tse di dirilweng go ya ka karolo eno. Karolo 2 Kamogelo ya dikema tsa ombud wa madirelo 15 20 25 30 35 40 45 50 Kamogelo ya dikema tsa ombud wa madirelo 194. (1) Khansele ya Ombud e ka, ka kopo ka sekema sa bodirelo sa ombud, amogela sekema sa bodirelo sa ombud mabapi le maitlhomo a Molao ono. (2) Kopo go ya ka karolotlaleletso (1) e tshwanetse— (a) go kwalwa, ka mokgwa o o rebotsweng kgotsa amogetsweng ke Khansele ya 55 Bolaodi ya Ombud; le (b) go akaretsa le kgotsa go romelwa le— (i) kgatiso ya melawana ya go busa ya sekema sa ombud sa bodirelo; This gazette is also available free online at www.gpwonline.co.za
218
For the purposes of this Chapter—
Verify source ↗

AI-assisted research summary: This section defines “decision” for this Chapter.

218. For the purposes of this Chapter— ‘‘decision’’ means each of the following: (a) A decision by a ﬁnancial sector regulator or the Ombud Council in terms of a 50 ﬁnancial sector law in relation to a speciﬁc person; This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 211 Tshekego ya dipeelo tse di beilweng tsa nako 209
216
Kamogelo ya ngongorego ka molaodi wa lephata la ditsˇhelete, Khansele ya
Verify source ↗

AI-assisted research summary: Ombud-related bodies must submit reports and information on request, and an ombud must notify the conduct authority about serious possible misconduct discovered in a complaint.

216. Kamogelo ya ngongorego ka molaodi wa lephata la ditsˇhelete, Khansele ya Ombud kgotsa ombud e sekega dipeelo tsa thibelo ya nako, e ka nna go ya ka tumalano kgotsa molao mongwe le mongwe, kgotsa go diragatswa ga taelo go ya ka Prescription Act, 1969 (Molao 68 wa 1969), mo nakong ya go simolola ka kamogelo ya ngongorego go ﬁtlhela ngongorego e gogelwa morago, kgotsa e tlhomamiswa kwa bokhutlong. Go bega 217. (1) Sekema sa Ombud se tshwanetse— (a) mo dikgweding tse thataro morago ga go ya bokhutlong ga ngwaga nngwe le nngwe ya ditsˇhelete, romela go Khansele ya Ombud, mo foromong le ka diteng tse di tlhokwang ke Khansele ya Ombud, pegelo ka ga tiro ya sekema sa ombud sa lephata la ditsˇhelete ka nako ya ngwaga wa ditsˇhelete, go akaretsa mabapi le— (i) ikamanyo le melao ya lephata la ditsˇhelete jaaka ga e amana le dikema tsa ombud; (ii) dingongorego tse sekema sa ombud se samaganeng le tsona, le ka moo di rarabololwang ka teng; le (iii) boitshwaro jwa ditheo tsa ditsˇhelete jo bo tlisang dingongorego tse dintsi; le (b) go ikamanya le kopo ya Khansele ya Ombud ka nako nngwe le nngwe mabapi le tshedimosetso e e ka ga tsamaiso ya sekema sa ombud, tse di diriswang sesˇweng le bokao jwa maitsholo a ditheo tsa ditsˇhelete a a elwang tlhoko ke sekema sa ombud le tshedimosetso nngwe le nngwe e e maleba. (2) Nngwe le nngwe ya tse di latelang e tshwanetse, ka kopo ya Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete, gape le ka nako nngwe le nngwe, tlamela ka tshedimosetso le dipegelo ka ga tiro ya dikema tsa ombud le tseo di diriswang mo sesˇweng le bokao jwa maitsholo a ditheo tsa ditsˇhelete tse bo di elang tlhoko: (a) Khansele ya Ombud; (b) (c) sekema sa ombud sa semolao; sekema sa ombud sa bodirelo se se amogetsweng. (3) Fa, ka go samagana le ngongorego, ombud a lemoga gore go na le kgotsa go ka nna le— (a) (b) tlolo ya molao wa lephata la ditsˇhelete ka tsenelelo e kgolo ke setheo sa ditsˇhelete; kgotsa tirwana kgotsa tiro ka setheo sa ditsˇhelete e e nang le tlamorago mo barekeding ba ditsˇhelete bao e seng bangongoregi, ombud o tshwanetse go itsise Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete ka ga morero oo, go akaretsa le tshupo ya setheo sa ditsˇhelete se se amegang. (4) (a) Khansele ya Ombud e tshwanetse go tlamela Tona ya Matlole le Matlotlo a Bosetsˇhaba ka tshedimosetso, dipoelo, dikwalo, ditlhaloso le ditshegetso tse di ka neelwang ka Molawana mabapi le karolo eno kgotsa tshedimosetso e e kalopiwang ke Tona ya Matlole le Matlotlo a Bosetsˇhaba. (b) Temana (a) ga e tlhoke kgotsa ga e letle kabelo ya tshedimosetso ka ga batho ba ba ka supiwang go tswa mo tshedimosetsong. KGAOLO 15 LEKGOTLA LA DITIRELO TSA DITSˇHELETE Karolo 1 Tlhaloso Ditlhaloso
218
Mabapi le maitlhomo a Kgaolo eno—
Verify source ↗

AI-assisted research summary: This section defines “decision” for this Chapter.

218. Mabapi le maitlhomo a Kgaolo eno— ‘‘tshwetso’’ e kaya nngwe le nngwe ya tse di latelang: (a) tshwetso e e tserweng ke molaodi wa lephata la ditsˇhelete kgotsa Khansele ya Ombud go ya ka molao wa lephata la ditsˇhelete mabapi le motho yo o rileng; 5 10 15 20 25 30 35 40 45 50 This gazette is also available free online at www.gpwonline.co.za
212
No. 41060
Verify source ↗

AI-assisted research summary: The Financial Services Tribunal is established to reconsider certain decisions and do other functions given by the Act and related financial sector laws.

212 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 210 (c) (b) a decision by an authorised ﬁnancial services provider, as deﬁned in section 1 of the Financial Advisory and Intermediary Services Act, in terms of section 14 of that Act in relation to a speciﬁc person; a decision in relation to a speciﬁc person by a market infrastructure, being a decision in terms of rules of the market infrastructure contemplated by the Financial Markets Act, or a decision contemplated in section 105 of the Financial Markets Act; (d) a decision of a statutory ombud in terms of a ﬁnancial sector law in relation to (e) a speciﬁc complaint by a person; a decision of a kind prescribed by Regulation for the purposes of this paragraph, and includes— (f) an omission to take such a decision within the period prescribed or speciﬁed in a ﬁnancial sector law, rules, or other requirements pertaining to the decision-maker; (g) an omission to take such a decision within a reasonable period, if the applicable ﬁnancial sector law, or rules of, or other requirements pertaining to, the decision-maker require the decision to be taken but without prescribing or specifying a period; (h) an action taken as a result of such a decision; and (i) an omission to take action as a result of such a decision within the prescribed or a reasonable period, if the applicable ﬁnancial sector law requires the action to be taken but does not prescribe a period, but does not include— (j) a decision of a ﬁnancial sector regulator that the ﬁnancial sector regulator is directed to take in terms of section 18(2) or 30(1); a decision to conduct a supervisory on-site inspection or an investigation; an assessment of a levy issued to a speciﬁc person; or (k) (l) (m) a decision prescribed by Regulations made for this paragraph; ‘‘decision-maker’’ means— (a) in relation to a decision by a ﬁnancial sector regulator, the ﬁnancial sector regulator; in relation to a decision by the Ombud Council, the Ombud Council; in relation to a decision referred to in paragraph (b) of the deﬁnition of ‘‘decision’’ in this section, the authorised ﬁnancial services provider; in relation to a decision referred to in paragraph (c) of the deﬁnition of ‘‘decision’’ in this section, the market infrastructure; in relation to a decision by a statutory ombud, the statutory ombud; and in relation to a decision referred to in paragraph (e) of the deﬁnition of ‘‘decision’’ in this section, the person identiﬁed in the Regulations as the decision-maker. (b) (c) (d) (e) (f) Part 2 Financial Services Tribunal Establishment and function of Financial Services Tribunal 219. (1) The Financial Services Tribunal is hereby established to reconsider, in terms of this Chapter, decisions as deﬁned in section 218 and to perform the other functions conferred on it by this Act and speciﬁc ﬁnancial sector laws. (2) The Tribunal— is independent; (a) (b) must be impartial and exercise its powers without fear, favour or prejudice; (c) (d) must perform its function in accordance with this Act and the speciﬁc ﬁnancial is a tribunal of record; and sector laws. 5 10 15 20 25 30 35 40 45 50 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 213 211 (b) (c) (d) (e) tshwetso ka motlamedi wa ditirelo tsa ditsˇhelete tse di amogetsweng, jaaka go tlhalositswe mo karolong 1 ya Financial Advisory and Intermediary Services Act, go ya ka karolo 14 ya Molao oo mabapi le motho yo o rileng; tshwetso e e mabapi le motho yo rileng ka thulaganyetso ya popegotheo ya mmaraka, eo e leng tshwetso go ya ka melawana ya thulaganyetso ya popegotheo ya mmaraka e e tlhalositsweng ke Financial Markets Act, kgotsa tshwetso e e tlhalositsweng mo karolong 105 ya Financial Markets Act; tshwetso ya ombud wa semolao go ya ka molao wa lephata la ditsˇhelete mabapi le ngongorego e e rileng ka motho; tshwetso ya mofuta o o rileng e e neetsweng ke Molawana mabapi le maitlhomo a temana eno, ebile e akaretsa— (f) (g) tlogelo go tsaya tshwetso eo mo nakong e e beilweng kgotsa tsepamisitsweng mo molaong wa lephata la ditsˇhelete, melawana, kgotsa ditlhokego tse dingwe tse di amanang le motho yo o tsereng tshwetso; tlogelo ya go tsaya tshwetso eo mo nakong e e lekaneng, fa molao wa lephata la ditsˇhelete o o maleba, kgotsa melwanaya, kgotsa ditlhokego tse dingwe tse di amanang le motho yo o tsereng tshwetso di tlhoka gore go tsewe tshwetso fela ntle le go baya kgotsa go tsepamisa nako; (h) kgato e e tserweng ka ntlha ya tshwetso eo; le (i) tlogelo ya go tsaya tshwetso ka ntlha ya tshwetso eo mo nakong e e beilweng kgotsa e e lekaneng, fa molao wa lephata la ditsˇhelete o o amogetsweng o tlhoka gore kgato e tsewe mme o sa neelane ka nako, mme ga o akaretse— (j) (k) tshwetso e molaodi wa lephata la ditsˇhelete a kaelwang go e tsaya go ya ka karolo 18(2) kgotsa 30(1); tshwetso ya go diragatsa kelotlhoko ya botlhokomedi jwa kwa setsheng kgotsa patlisiso; tshekatsheko ya lekgethwana le le reboletsweng motho yo o rileng; kgotsa (l) (m) tshwetso e e neilweng ke Melawana e e diritsweng temana eno; ‘‘motho yo o tsayang tshwetso’’ o kaya— (a) mabapi le tshwetso ka molaodi wa lephata la ditsˇhelete, molaodi wa lephata la 5 10 15 20 25 30 ditsˇhelete; (b) mabapi le tshwetso ka Khansele ya Ombud, Khansele ya Ombud; (c) mabapi le tshwetso e e kailweng mo temaneng (b) ya tlhaloso ya ‘‘tshwetso’’ 35 mo karolong eno, motlamedi wa ditirelo tsa ditsˇhelete yo o amogetsweng; (d) mabapi le tshwetso e e kailweng mo karolong (c) ya tlhaloso ya ‘‘tshwetso’’ mo karolong eno, thulaganyetso ya popegotheo ya mmaraka; (e) mabapi le tshwetso ka ombud wa semolao, ombud wa semolao; le (f) mabapi le tshwetso e e kailweng mo temaneng (e) ya tlhaloso ya ‘‘tshwetso’’ mo karolong eno, motho yo o supilweng mo Melawaneng jaaka motho yo o tsayang tshwetso. Karolo 2 Lekgotla la Ditirelo tsa Ditsˇhelete Go tlhongwa le tiro ya Lekgotla la Ditirelo tsa Ditsˇhelete 219. (1) Lekgotla la Ditirelo tsa Ditsˇhelete le a tlhongwa go sekasekagape, go ya ka Kgaolo eno, ditshwetso jaaka di tlhalositswe mo karolong 218 le go dira ditiro tse dingwe tse le bo di abetsweng ke Molao ono le melao ya lephata la ditsˇhelete e e rileng. (2) Lekgotla— (a) (b) le ikemetse; le tshwanetse go se tseye letlhakore le go diragatsa dithata tsa lona ntle le letshogo, kgethololo kgotsa kgobelelo; (c) ke lekgotla la rekoto; le (d) le tshwanetse go dira ditiro tsa lona go tsamaelana le Molao ono le melao e e tsepameng ya lephata la ditsˇhelete. 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za
250
In this Part, ‘‘designated authority’’ means—
Verify source ↗

AI-assisted research summary: This section defines “designated authority” for this Part and lists the bodies that count as one.

250. In this Part, ‘‘designated authority’’ means— the Reserve Bank; (a) (b) a ﬁnancial sector regulator; (c) (d) (e) the National Credit Regulator; the Council for Medical Schemes; a market infrastructure, but only in relation to its regulatory or supervisory functions in terms of a ﬁnancial sector law; an organ of state responsible for the regulation, supervision or enforcement of any law; (f) (g) a body similar to an organ of state referred to in paragraph (f) that is designated in terms of the laws of a foreign country as being responsible for the regulation, supervision or enforcement of legislation; 35 40 45 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 233 231 ditsˇhelete dikgwedi di le pedi pele ga tshimololo ya ngwaga wa ditsˇhelete ao bo tla a duediswang. (7) Mo godimo ga merero e e tshwanetseng go akaretswa mo pegelong ya ngwaga le dikanegong tsa ditsˇhelete tsa Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete tse di kailweng mo karolong 55 ya Public Finance Management Act, pegelo ya ngwaga e tshwanetse go tlhagisa le go nna le kanego e e bontshang— (a) palogotlhe ya ditheo tse di tlhokometsweng tse di duetseng makgethwana a a duedisitsweng go tsamaelana le karolo 237(1)(b); (b) palogotlhe ya matlole a a phatlaladitsweng go tswa mo akhaontong ya banka e e tlhomilweng e e kailweng mo karolong 246(2) go ya kwa akhaontong ya banka e e tlhomilweng ya mokgatlho mongwe le mongwe wa lephata la ditsˇhelete o o kailweng mo karolong 246(1); le (c) morero mongwe le mongwe o o tlhomamisitsweng ke Tona. (8) Mo godimo ga merero e e tshwanetseng go akaretswa mo dipegelong tsa ngwaga le dikanegong tsa ditsˇhelete kgotsa mo dikarabelong tsa ditsˇhelete tsa mokgatlho wa lephata la ditsˇhelete tse di kailweng mo dikarolotlaleletsong (4) le (5), pegelo ya ngwaga ya mokgatlho wa lephata la ditsˇhelete e tshwanetse go nna le kanego e e bontshang— (a) palogotlhe ya batho ba ba duetseng dituelelo tse di tlhomamisitsweng ke mokgatlho oo wa lephata la ditsˇhelete mo ngwageng wa ditsˇhelete; (b) palogotlhe ya ditheo tse di tlhokometsweng tse di duetseng makgethwana a a duedisitsweng ke mokgatlho oo wa lephata la ditsˇhelete mo ngwageng oo wa ditsˇhelete; (c) palogotlhe ya dituelelo tse di kgobokantsweng ke mokgatlho wa lephata la 5 10 15 20 ditsˇhelete; (d) palogotlhe ya makgethwana a a kgobokantsweng mo boemong jwa le go 25 amogelwa ke mokgatlho wa lephata la ditsˇhelete; le (e) morero mongwe le mongwe o o tlhomamisitsweng ke Tona. (9) Mokgatlho wa lephata la ditsˇhelete o tshwanetse go phasalatsa tekanyetsokabo ya ona ya ngwaga mo webesaeteng ya ona, e bile o tshwannetse go phasalatsa dituelelo tse di tlhomamisitsweng tsa ona le makgethwana a a duediswang mo Rejisetareng le mo webesaeteng ya ona. 30 Karolo 4 Tiragatso ya Kgaolo mo Lekgotleng Tiragatso ya Kgaolo mo Lekgotleng
249
Modulasetilo wa Lekgotla o rwala maikarabelo a go netefatsa gore ditiro tsa
Verify source ↗

AI-assisted research summary: The chairperson of the council must make sure the council’s functions under this Chapter are carried out.

249. Modulasetilo wa Lekgotla o rwala maikarabelo a go netefatsa gore ditiro tsa 35 Lekgotla go ya ka Kgaolo eno di a dirwa. KGAOLO 17 TSELE LE TSELE Karolo 1 Karogano ya tshedimosetso le go bega Bothati jo bo thapilweng
250
Mo Karolong eno,‘‘bothati jo bo thapilweng’’ bo kaya—
Verify source ↗

AI-assisted research summary: This section defines “bothati jo bo thapilweng” by listing the authorities and bodies it includes.

250. Mo Karolong eno,‘‘bothati jo bo thapilweng’’ bo kaya— (a) Banka ya Resefe; (b) bolaodi jwa lephata la ditsˇhelete; (c) Bolaodi jwa Bosetsˇhaba jwa Sekoloto; (d) Khansele ya Dikema tsa Kalaﬁ; (e) thulaganyetso ya popegotheo ya mmaraka, mme fela mabapi le ditiro tsa yona tsa bolaodi le botlhokomedi go ya ka molao wa lephata la ditsˇhelete; setheo sa puso se se rwalang maikarabelo a taolo, tlhokomelo kgotsa kgatelelo ya molao mongwe le mongwe; (f) (g) Mokgatlho o o tshwanang le setheo sa puso se se kailweng mo temaneng (f) o o thapilweng go ya ka melao ya dinaga disele jaaka o rwala maikarabelo a taolo, tlhokomelo kgotsa kgatelelo ya peomolao; 40 45 50 This gazette is also available free online at www.gpwonline.co.za
234
No. 41060
Verify source ↗

AI-assisted research summary: A financial sector regulator or the Reserve Bank must use information only for its duties here, disclose it only when necessary for those duties, and may work with designated authorities.

234 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 232 (h) (i) (j) the Ombud Council; an ombud; or a payment system management body recognised in terms of section 3(1) of the National Payment System Act. Information sharing 251. (1) (a) A ﬁnancial sector regulator or the Reserve Bank has an obligation and a duty to— (i) (ii) (iii) perform its functions, including its supervisory functions, in terms of ﬁnancial achieve its objective as set out in this Act; achieve the objects of ﬁnancial sector laws; sector laws and the Financial Intelligence Centre Act. (b) A ﬁnancial sector regulator or the Reserve Bank must collect and use information, including personal information as deﬁned in the Protection of Personal Information Act, to the extent that the ﬁnancial sector regulator or the Reserve Bank determines is necessary to properly perform the obligations and duties referred to in paragraph (a). (c) A ﬁnancial sector regulator or the Reserve Bank may only share or disclose information in order to fulﬁl its obligations and duties in terms of this subsection and subsection (2), and the disclosure or sharing of information for any other purposes constitutes the sharing or disclosure of information for a purpose that is not authorised, as referred to in section 272. (2) (a) A ﬁnancial sector regulator or the Reserve Bank must disclose information referred to in subsection (1)(b) if the ﬁnancial sector regulator or the Reserve Bank determines it is necessary to comply with its obligations— (i) (v) (iv) (ii) (iii) to perform functions in terms of, or as enabled by, the ﬁnancial sector laws or the Financial Intelligence Centre Act; relating to legal proceedings or other proceedings; to warn ﬁnancial customers against conducting business with a ﬁnancial institution or other person conducting activities in contravention of the ﬁnancial sector laws or the Financial Intelligence Centre Act; to inform ﬁnancial customers of actions taken against a ﬁnancial institution in terms of the ﬁnancial sector laws or the Financial Intelligence Centre Act; to alert ﬁnancial customers to activities carried out by a ﬁnancial institution that a ﬁnancial sector regulator or the Reserve Bank believes to constitute a risk to ﬁnancial customers; to protect the public interest; to deter, prevent, detect, report and remedy fraud or other criminal activity in relation to ﬁnancial products or ﬁnancial services; or relating to anti-money laundering and combating the ﬁnancing of terrorism. (b) Information obtained in terms of the Financial Intelligence Centre Act, other than in terms of sections 45 and 45B of that Act, may only be utilised or disclosed in accordance with sections 29, 40 and 41 of that Act. (vi) (vii) (viii) (3) A ﬁnancial sector regulator or the Reserve Bank, in pursuing the obligations and duties referred to in subsections (1)(a) and (2)(a), may— liaise with any designated authority on matters of common interest; (a) (b) participate in the proceedings of any designated authority; (c) advise or receive advice from any designated authority; (d) prior to taking regulatory action which a ﬁnancial sector regulator or the Reserve Bank considers material against a ﬁnancial institution, inform any designated authority that the ﬁnancial sector regulator or the Reserve Bank, as the case may be, of the pending regulatory action or, where this is not possible, inform the designated authority as soon as possible after taking the regulatory action; and 5 10 15 20 25 30 35 40 45 50 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 235 233 (h) Khansele ya Ombud; (i) ombud; kgotsa (j) mokgatlho wa taolo ya tsamaiso ya tuelo e e amogetsweng go ya ka National Payment System Act. Karogano ya tshedimosetso 251. (1) (a) Molaodi wa lephata la ditsˇhelete kgotsa Banka ya Resefe o na le tlamego le tiro ya go— (i) ﬁtlhelela maikaelelo a yona jaaka go tlhagitswe mo Molaong ono; (ii) ﬁtlhelela maikaeleloa melao ya lephata la ditsˇhelete; (iii) dira ditiro tsa gagwe, go akaretsa ditiro tsa gagwe tsa botlhokomedi, go ya ka melao ya lephata la ditsˇhelete le Financial Intelligence Centre Act. (b) Molaodi wa lephata la ditshelete kgotsa Banka ya Resefe o tshwanetese go kgobokanya loe go dirisa tshedimosetso, go akaretsa le tshedimosetso ya bowena jaaka e tlhalositswe mo Protection of Personal Information Act, go ﬁtlhela molaodi wa lephata la ditsˇhelete kgotsa Banka ya Resefe a tlhomamisa gore go botlhokwa go dira ka nepagalo ditlamego le ditiro tse di kailweng mo temaneng (a). (c) Molaodi wa lephata la ditsˇhelete kgotsa Banka ya Resefe o ka arogana kgotsa a senola tshedimosetso gore a diragatse ditlamego le ditiro tsa gagwe go ya ka karolotlaleletso eno le karolotlaleletso (2), e bile ditshenolo kgotsa karogano ya tshedimosetso mabapi le maitlhomo mangwe le mangwe di na le karogano kgotsa tshenolo ya tshedimosetso mabapi le maitlhomo a a sadumelelwang, jaaka go kailwe mo karolong 272. (2) (a) Molaodi wa lephata la ditshelete kgotsa Banka ya Resefe o tshwanetse go senola tshedimosetso e e kailweng mo karolotlaleletsong (1)(b) fa molaodi wa lephata la ditsˇhelete kgotsa Banka ya Resefe e tlhomamisa gore go botlhokwa go ikamanya le ditlamego tsa yona— (i) (iv) go dira ditiro tsa gagwe go ya ka, kgotsa jaaka a kgontshitswe ke, melao ya lephata la ditsˇhelete kgotsa Financial Intelligence Centre Act; (ii) tse di amanang le ditsamaiso tsa semolao kgotsa ditsamaiso tse dingwe; (iii) go tsibosa barekedi ba ditsˇhelete kgatlhanong le go dira kgwebo le setheo sa ditsˇhelete kgotsa motho yo mongwe yo o dirang ditiro tse di kgatlhanong le melao ya lephata la ditsˇhelete kgotsa Financial Intelligence Centre Act; go itsise barekedi ba ditsˇhelete ka ga dikgato tse di tserweng kgatlhanong le setheo sa ditsˇhelete go ya ka melao ya lephata la ditsˇhelete kgotsa Financial Intelligence Centre Act; go lemosa barekedi ba ditsˇhelete ka ga ditiro tse di dirilweng ke setheo sa ditsˇhelete se molaodi wa ditsˇhelete kgotsa Banka ya Resefe a dumelang gore di ka lere kotsi mo barekeding ba ditsˇhelete; go sireletsa dikgatlhego tsa setsˇhaba; go se kgothaletse, thibele, batlisise, bege le go rarabolola tsietso kgotsa ditiro tse dingwe tsa bosenyi mabapi le dikuno tsa ditsˇhelete kgotsa ditirelo tsa ditsˇhelete; kgotsa (v) (vi) (vii) (viii) mabapi le maitlhomo a a kgatlhanong le go gweba ka madi le twantsho ya tshegetso ya ditsˇhelete go borukhutli. (b) Tshedimosetso e e bonweng go ya ka Financial Intelligence Centre Act, ntle le go ya ka dikarolo 45 le 45B tsa Molao oo, e ka diriswa fela kgotsa senolwa go tsamaelana le dikarolo 29, 40 le 41 tsa Molao oo. (3) Molaodi wa lephata la ditsˇhelete kgotsa Banka ya Resefe, mo go ﬁtlheleleng maitlhomo a a kailweng mo karolotlaleletsong (1)(a) le (2)(a), e ka— (a) ikgolaganya le bothati bongwe le bongwe jo bo thapilweng mabapi le merero ya kgatlhego e e tshwanang; tsaya karolo mo ditsamaisong tsa bothati bongwe le bongwe jo bo thapilweng; (b) (c) gakolola kgotsa amogela kgakololo go tswa go bothati bongwe le bongwe jo bo thapilweng; (d) pele ga go dira tiro ya bolaodi e molaodi wa lephata la ditsˇhelete kgotsa Banka ya Resefe bo tseelang gore e botlhokwa kgatlhanong le setheo sa ditsˇheletete, itsise bothati bongwe le bongwe jo bo thapilweng gore molaodi wa lephata la ditsˇhelete kgotsa Banka ya Resefe, jaaka mabaka a ntse, wa tiro e e letilweng ya bolaodi kgotsa, fa seno se ka se kgonagale, itsise bothati jo bo thapilweng ka bonako jo bo kgonegang morago ga go dira tiro ya bolaodi; le 5 10 15 20 25 30 35 40 45 50 55 60 This gazette is also available free online at www.gpwonline.co.za
236
No. 41060
Verify source ↗

AI-assisted research summary: The financial sector regulator or Reserve Bank may share information with designated authorities only if safeguard conditions are met, must keep written authorisation procedures, and must follow strict use and confidentiality rules.

236 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 234 (e) negotiate and enter into bilateral or multilateral co-operation agreements, including memoranda of understanding, with designated authorities, includ- ing designated authorities in whose countries a subsidiary or holding company of a ﬁnancial institution is incorporated or a branch is situated, to, among other matters— (i) co-ordinate and harmonise the reporting and other obligations of ﬁnancial institutions; (ii) provide mechanisms for the exchange of information, including provi- sions requiring or permitting a ﬁnancial sector regulator, the Reserve Bank or a designated authority— (aa) to be informed of adverse assessments in respect of ﬁnancial institutions; or (bb) to provide or receive information regarding signiﬁcant problems that are being experienced within a ﬁnancial institution; (iii) provide procedures for the co-ordination of supervisory activities to including on an institutions, facilitate the monitoring of ﬁnancial on-going basis; and (iv) assist any designated authority in regulating and enforcing any laws that the designated authority is responsible for supervising and enforcing, that are similar to a ﬁnancial sector law or which have an impact on the regulation of the ﬁnancial sector and ﬁnancial institutions. (4) (a) Information may only be disclosed by a ﬁnancial sector regulator or the Reserve Bank to a designated authority if, before disclosing the information, the ﬁnancial sector regulator or the Reserve Bank is satisﬁed that the designated authority that receives the information has proper and effective safeguards in place to protect the information, which safeguards are similar to those provided for in this section. (b) A ﬁnancial sector regulator or the Reserve Bank may only consent to information that is provided to a designated authority being made available to third parties if it is satisﬁed that the third parties have proper safeguards in place to protect the information received, which safeguards are similar to those provided for in this section. (c) A ﬁnancial sector regulator or the Reserve Bank may only request information from a designated authority in connection with the performance of obligations and duties in terms of the laws referred to in subsections (1) and (2). (d) Information provided on request to a designated authority in terms of this section— (i) must only be used by the designated authority for the purpose for which it was requested; (ii) may not be disclosed to a third party without the consent of the designated authority that provided the information; and (iii) must retain its integrity and conﬁdentiality, and the designated authority that take appropriate, reasonable technical and receives the information must organisational measures to prevent loss of, damage to, or unauthorised destruction of the information, and unlawful access to or processing of the information. (e) If, despite paragraph (d), a designated authority is compelled by law to disclose the ﬁrst information provided by another designated authority to a third party, designated authority must— (i) inform that designated authority of the event and the circumstances in which the information shall be made available; and 5 10 15 20 25 30 35 40 45 (ii) use all reasonable means to oppose the compulsion to disclose, and otherwise to 50 protect the information. (5) When sharing or disclosing information in terms of subsection (3) or (4), a ﬁnancial sector regulator or the Reserve Bank must comply with the requirements in those subsections, and a contravention of those requirements constitutes the sharing or disclosure of information in a manner that is not authorised, as referred to in section 272. (6) (a) A ﬁnancial sector regulator or the Reserve Bank must have in place written processes and procedures that— (i) clearly specify which officials and employees in the ﬁnancial sector regulator or the Reserve Bank are authorised to share or disclose information in terms of this section; and 55 60 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 237 235 (e) rerisana le go tsena mo ditumalanong tsa tirisanommogo tsa sebedi kgotsa bontsi, go akaretsa le memorantamo wa tumalano, le bothati jo bo thapilweng, go akaretsa bothati jo bo thapilweng joo mo dinageng tsa jona kgwebo e e okangweng kgotsa e e okameng tse dingwe ya setheo sa ditsˇhelete e kopantsweng kgotsa lekala le tlhomilweng, go, magareng ga tse dingwe— (i) golaganya le go kopanya go bega le ditlamego tse dingwe tsa ditheo tsa (ii) ditsˇhelete; tlamela ka mekgwa ya thefosano ya tshedimosetso, go akaretsa le kabelo e e tlhokang kgotsa letlang molaodi wa lephata la ditsˇhelete, Banka ya Resefe kgotsa bolaodi jo bo thapilweng— (aa) go sedimosetswa ka tekanyetso e e kgatlhanong mabapi le ditheo tsa ditsˇhelete; kgotsa (iii) (iv) (bb) go tlamela kgotsa amogela tshedimosetso e e mabapi le mathata a a botlhokwa a a itemogelwang mo setheong sa ditsˇhelete; tlamela ka ditsamaiso tsa go golaganya ditiro tsa tlhokomelo go nolofatsa tlhokomelo ya ditheo tsa ditsˇhelete, go akaretsa ka nako le nako; le thusa bothati bongwe le bongwe jo bo thapilweng mo go laoleng le go gateleleng melao mengwe le mengwe ya gore bothati jo bo thapilweng bo rwala maikarabelo a go tlhokomela le go gatelela, e e tshwanang le molao wa lephata la ditsˇhelete kgotsa e e nang le seabe mo go laoleng lephata la ditsˇhelete le ditheo tsa ditsˇhelete. (4) (a) Tshedimosetso e ka senolwa fela ke molaodi wa lephata la ditsˇhelete kgotsa Banka ya Resefe go bothati jo bo thapilweng fa, pele tshedimosetso e senolwa, molaodi wa lephata la ditsˇhelete kgotsa Banka ya Resefe e kgotsofetse gore bothati jo bo thapilweng jo bo amogelang tshedimosetso bo na le mekgwa e e maleba e e nonoﬁleng ya go sireletsa tshedimosetso, mekgwa eo e tshwanang le e e tlametsweng mo karolong eno. (b) Molaodi wa lephata la ditsˇhelete kgotsa Banka ya Resefe o ka dumelela fela gore tshedimosetso e e tlametsweng bothati jo bo thapilweng e abelwe mekgatlho ya boraro fa fela a kgotsofetse gore mekgatlho ya boraro e na le mekgwa ya go sireletsa tshedimosetso e e amogetsweng, mekgwa e e tshwanang le e e tlametsweng mo karolong eno. (c) Molaodi wa lephata la ditsˇhelete kgotsa Banka ya Resefe o ka kopa fela tshedimosetso mo bothating jo bo thapilweng mabapi le tiro ya ditiro le go diragatswa ga dithata go ya ka melao e e kailweng mo dikarolotlaleletsong (1) le (2). (d) Tshedimosetso e e tlametsweng go ya ka kopo go bothati jo bo thapilweng go ya ka karolo eno— (i) (ii) (iii) e tshwanetse go diriswa fela ke bothati jo bo thapilweng mabapi le maitlhomo ao e a kopetsweng; e ka se senolelwe mokgatlho wa boraro ntle le tumelelo ya bothati jo bo thapilweng jo bo tlametseng ka tshedimosetso; le e tshwanetse go busetsa tshiamo le boitshepo jwa jona, e bile bothati jo bo thapilweng jo bo amogelang tshedimosetso bo tshwanetse go tsaya dikgato tse di maleba, ka mabaka a a utlwagalang a a rulaganeng go thibela tatlhegelo ya, tshenyegelo go kgotsa tshenyo e e sadumelelwang ya tshedimosetso, phitlhelelo e e seng mo molaong ya kgotsa tsamaiso ya tshedimosetso. le (e) Fa, ntle le temana (d), bothati jo bo thapilweng bo pateletswa ke molao go senola tshedimosetso e e tlametsweng ke bothati jo bongwe jo bo thapilweng go mokgatlho wa boraro, bothati jo bo thapilweng jwa ntlha bo tshwanetse— (i) (ii) go itsise gore bothati jo bo thapilweng jwa tiragalo le mabaka ao tshedimosetso e tla dirwang gore e nne teng ka ona; le dirisa mekgwa yotlhe e e maleba go ganetsa kgapeletso ya go senola, le go sireletsa tshedimosetso. (5) Fa go aroganwa kgotsa senolwa tshedimosetso go ya ka karolotlaleletso (3) kgotsa (4), molaodi wa lephata la ditsˇhelete kgotsa Banka ya Resefe e tshwanetse go ikamanya le ditlhokego tse di mo dikarolotlaleletsong tseo, e bile tlolo ya ditlhokego tseo e na le ditlamorago tsa karogano kgotsa tshenolo ya tshedimosetso ka mokgwa o o sa dumelelwang, jaaka go kailwe mo karolong 272. (6) (a) Molaodi wa lephata la ditsˇhelete kgotsa Banka ya Resefe o tshwanetse go tshola dikgato tse di kwetsweng le ditsamaiso tse di— (i) tlhagisang ka tlhamalalo gore ke batlhankedi le badiri bafe mo bolaoding jwa lephata la ditsˇhelete kgotsa Banka ya Resefe ba ba dumeletsweng go arogana kgotsa senola tshedimosetso go ya ka karolo eno; le 5 10 15 20 25 30 35 40 45 50 55 60 This gazette is also available free online at www.gpwonline.co.za
238
No. 41060
Verify source ↗

AI-assisted research summary: Auditors must quickly report certain serious issues to the Prudential Authority, and people may report financial-sector problems to a regulator. Good-faith reporting is protected.

238 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 236 (ii) provide for the sharing or disclosure of information in a manner that is consistent with the requirements of this section and the Protection of Personal Information Act. (b) The processes and procedures referred to in paragraph (a) must grant authority to share or disclose information only to officials and employees who have an appropriate degree of seniority in the institution. (c) Only an official or employee of a ﬁnancial sector regulator or the Reserve Bank who is authorised by the policy and procedures of the ﬁnancial sector regulator or the Reserve Bank may share or disclose information on behalf of the ﬁnancial sector regulator or the Reserve Bank. (7) For the purposes of this section, ‘‘information’’ does not include aggregate statistical data or information that does not disclose the identity of a person. Reporting by auditors to ﬁnancial sector regulators 252. (1) (a) An auditor of a licensed ﬁnancial institution, or of a holding company of a ﬁnancial conglomerate must, without delay, submit a detailed written report to the Prudential Authority, the governing body of the ﬁnancial institution and, in the case of a ﬁnancial conglomerate, the holding company of the ﬁnancial institution, about any matter relating to the business of the ﬁnancial institution or a company within the conglomerate, being a matter— 5 10 15 (i) which the auditor becomes aware of in the course of performing functions and 20 (ii) duties as auditor; and that the auditor considers— (aa) is causing or is likely to cause the ﬁnancial institution to be ﬁnancially unsound; (bb) is contravening or may contravene a ﬁnancial sector law; or (cc) may result in an audit not being completed or may result in a qualiﬁed or 25 adverse opinion on accounts. (b) An auditor must also submit any report or other document or particulars about the matter contemplated in section 45(1)(a) and (3)(c) of the Auditing Profession Act, 2005 (Act No. 26 of 2005), to the Prudential Authority. (2) An auditor of a licensed ﬁnancial institution or of a holding company of a ﬁnancial conglomerate who resigns or whose appointment is terminated must submit to the Prudential Authority— (a) a written statement on the reasons for resignation or the reasons that the auditor believes are the reasons for the termination; and (b) any report contemplated in section 45(1)(a) and (3)(c) of the Auditing Profession Act, 2005 (Act No. 26 of 2005), that the auditor would, but for the resignation or termination, have had reason to submit. (3) (a) The furnishing, in good faith, by an auditor of a report or information under subsection (1) or (2) is not a contravention of a law, a breach of a contract or a breach of a code of professional conduct. (b) A failure, in good faith, by an auditor to comply with this section does not confer upon any person a right of action against the auditor. Reporting to ﬁnancial sector regulators 253. (1) A person may report to a ﬁnancial sector regulator— (a) ﬁnancial difficulties or suspected ﬁnancial difficulties in a ﬁnancial institution; (b) a contravention or suspected contravention of a ﬁnancial sector law in relation (c) to a ﬁnancial institution; or the involvement or the suspected involvement of a ﬁnancial institution in ﬁnancial crime. (2) Unless the report was made in bad faith, a person who makes a report in terms of subsection (1) is not— (a) criminally liable for making the report; or (b) liable to pay compensation or damages to any person in relation to a loss caused by the report. 30 35 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 239 237 (ii) tlamelang mabapi le karogano kgotsa tshenolo ya tshedimosetso ka mokgwa o o tlhomameng go ya ka ditlhokego tsa karolo eno le Protection of Personal Information Act. (b) Dikgato le ditsamaiso tse di kailweng mo temaneng (a) di tshwanetse go neelana ka tumelelo ya go arogana kgotsa senoa tshedimosetso fela kwa batlhankeding le badiring ba ba nang le bogolo jwa maemo a a rileng a a nepagetseng mo setheong. (c) Ke fela motlhankedi kgotsa modiri wa bolaodi jwa lephata la ditsˇhelete kgotsa Banka ya Resefe yo o dumeletsweng ke pholisi le ditsamaiso tsa bolaodi jwa lephata la ditsˇhelete kgotsa Banka ya Resefe a ka aroganang kgotsa senolang tshedimosetso mo boemong jwa bolaodi jwa lephata la ditsˇhelete kgotsa Banka ya Resefe. (7) Mabapi le maitlhomo a karolo eno, ‘‘tshedimosetso’’ ga e akaretse dintlha tsa dipalopalo kgotsa tshedimosetso e e sa senoleng boitshupo jwa motho. Pegelo ka baruni go balaodi ba lephata la ditsˇhelete 252. (1) (a) Moruni wa setheo sa ditsˇhelete se se abetsweng laesense, kgotsa wa kgwebo e e okameng tse dingwe ya ditheo tse di kopantsweng tsa ditsˇhelete o tshwanetse, ntle le tshenyo ya nako, go romela pegelo ya dintlha ka botlalo e e kwetsweng go Bothati jwa Tlhokomelo, mokgatlho o o busang wa setheo sa ditsˇhelete le, mo lebakeng la ditheo tse di kopantsweng tsa setheo sa ditsˇhelete, kgwebo e e okameng tse dingwe ya setheo sa ditsˇhelete, ka ga morero mongwe le mongwe o o amanang le kgwebo ya setheo sa ditsˇhelete kgotsa setlamo se se mo gare ga ditheo tse di kopantsweng, e le morero— (i) o e leng gore moruni o lemoga ka ona mo go direng ditiro jaaka monayaboleng kgotsa moruni; le (ii) moruni o tsaya gore— 5 10 15 20 (aa) o dira kgotsa o ka dira gore setheo sa ditsˇhelete se se tlhomame mo 25 ditsˇheleteng; (bb) o tlola kgotsa o ka tlola molao wa lephata la ditsˇhelete; kgotsa (cc) o o ka nnang le ditlamorago tsa tlhatlhobo e e sakonosetswang kgotsa o ka tlisa ditlamorago tsa ntlhakemo e e nonoﬁleng kgotsa e e kgatlhanong mo diakhaontong. (b) Moruni o tshwanetse go romela pegelo nnwge le nngwe kgotsa lokwalo le lengwe kgotsa dintlha ka ga morero o o tlhalositsweng mo karolong 45(1)(a) le (3)(c) ya Auditing Profession Act, 2005 (Molao 26 wa 2005), go Bothati jwa Tlhokomelo. (2) Moruni wa setheo sa ditsˇhelete se se abetsweng laesense kgotsa wa ditheo tse di kopantsweng tsa ditsˇhelete yo o rolang tiro kgotsa yo go thapiwa ga gagwe go khutliswang o tshwanetse go romela go Bothati jwa Tlhokomelo— (a) polelo e e kwetsweng ya mabaka a go rola tiro kgotsa mabaka a moruni a dumelang gore ke ona mabaka a khutliso; le (b) pegelo nngwe le nngwe e e tlhalositsweng mo karolong 45(1)(a) le (3)(c) ya Auditing Profession Act, 2005 (Molao 26 wa 2005), ya gore moruni o tla, mme mabapi le go rola kgotsa go khutlisa tiro, nna le mabaka a go romela. (3) (a) Thomelo, ka mowa o montle, ka moruni ya pegelo kgotsa tshedimosetso e e ka fa tlase ga dikarolotlaleletso (1) kgotsa (2) ga se tlolo ya molao, tlolo ya tumalano kgotsa tlolo ya khoutu ya boitshwaro jwa seporofesˇenale. 30 35 40 (b) Go palelwa, ka mowa o montle, ga moruni go ikamanya le karolo eno ga go neye 45 motho ope tshwanelo ya go dira kgatlhanong le moruni. Pegelo go balaodi ba lephata la ditsˇhelete 253. (1) Motho o ka begela balaodi ba lephata la ditsˇhelete— (a) mathata a ditsˇhelete kgotsa mathata a ditsˇhelete a a belaelwang mo setheong (b) sa ditsˇhelete; tlolo kgotso tlolo e e belaelwang ya molao wa lephata la ditsˇhelete mabapi le setheo sa ditsˇhelete; kgotsa 50 (c) botsayakarolo kgotsa botsayakarolo jo bo belaelwang jwa setheo sa ditsˇhelete mo bosenying jwa ditsˇhelete. (2) Ntle le fa pegelo e dirilwe ka mowa o o maswe, motho yo o dirang pegelo go ya 55 ka karolotlaleletso (1) ga a— (a) bonwe molato wa bosenyi mabapi le go dira pegelo; kgotsa (b) rwale maikarabelo a go duela pusetso kgotsa ditshenyegelo go motho mongwe le mongwe mabapi le tatlhegelo e e tlhodilweng ke pegelo. This gazette is also available free online at www.gpwonline.co.za
240
No. 41060
Verify source ↗

AI-assisted research summary: This section is titled “Prohibition of victimisation.”

240 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Prohibition of victimisation 238
254
A person may not subject another person to any prejudice in employment, or
Verify source ↗

AI-assisted research summary: A person must not penalise or disadvantage another person in employment because that person made a report under section 252 or 253.

254. A person may not subject another person to any prejudice in employment, or penalise another person in any way, on the ground that the other person— (a) made a report in terms of section 252; or (b) made a report in terms of section 253, even if the report was not required by 5 law. Protected disclosures
255
Sections 252 and 253 apply in addition to, and do not limit, any other law that
Verify source ↗

AI-assisted research summary: Sections 252 and 253 apply alongside other laws and do not limit laws that protect people who properly report legal contraventions.

255. Sections 252 and 253 apply in addition to, and do not limit, any other law that provides protection for persons who properly report contraventions of the law. Part 2 Financial Sector Information Register Establishment and operation of Financial Sector Information Register

Part

Part 2

194
No. 41060
Verify source ↗

AI-assisted research summary: The Ombud Council may require extra information from a recognition applicant, can pause work until the notice is met, and must decide the application within three months. It may grant recognition with conditions, but must not recognise a scheme unless the listed requirements are satisfied.

194 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 192 (ii) a list of ﬁnancial institutions that shall be members of the industry ombud scheme should it be recognised; and (iii) any other information required in the form. Requirement for further information or documents by Ombud Council 195. (1) The Ombud Council may, by notice in writing, require an applicant for 5 recognition— (a) to give the Ombud Council additional information or documents speciﬁed by the Ombud Council; and to verify any information given by the applicant in connection with the application in a manner speciﬁed by the Ombud Council. (b) (2) The Ombud Council need not deal further with the application until the applicant has complied with the notice contemplated in subsection (1). Determination of applications 196. (1) The Ombud Council must determine an application for recognition in terms of section 194 by— 10 15 (a) granting the application and notifying the applicant accordingly; or (b) refusing the application and notifying the applicant accordingly. (2) The Ombud Council may grant an application for recognition subject to conditions speciﬁed by the Ombud Council. (3) The Ombud Council must not recognise an industry ombud scheme unless 20 satisﬁed that— (a) a signiﬁcant number of relevant ﬁnancial institutions shall be members of the (b) industry ombud scheme, should it be recognised; the governing rules of the industry ombud scheme— (i) (ii) identify the ﬁnancial products or ﬁnancial services to which the industry ombud scheme relates, or in the case of a market infrastructure, the services that it provides; require the members of the industry ombud scheme to inform ﬁnancial customers about the scheme and how to contact and complain to the scheme, at the frequency agreed by the scheme for its members; (iii) make adequate and appropriate provision for making complaints; (iv) are legally binding on the members of the industry ombud scheme, and enforceable by the governing body of the industry ombud scheme; require each member of the industry ombud scheme to comply with, and give effect to, any determination of the ombud made in terms of the industry ombud scheme; (v) (vi) make adequate provision for monitoring and oversight of the operation of the industry ombud scheme, including in respect of the terms and conditions of the engagement of the ombud, including remuneration and other beneﬁts, and any action to terminate that engagement; require the ombud to apply, where appropriate, principles of equity when dealing with a complaint; and (vii) (viii) otherwise comply with applicable Ombud Council rules; (c) (d) the ombud scheme has or has available to it sufficient resources and capacity to ensure that it is able to comply with the requirements of ﬁnancial sector laws in relation to ombud schemes and any conditions that may be speciﬁed in terms of subsection (2); and recognising the industry ombud scheme will not be contrary to the interests of ﬁnancial customers, the ﬁnancial sector or the public interest. 25 30 35 40 45 (4) (a) The Ombud Council must determine an application as contemplated in 50 subsection (1) within three months after it is made. (b) In working out when the period mentioned in paragraph (a) expires, any period between the Ombud Council giving the applicant a notice in terms of section 195 and the requirements in the notice being satisﬁed is not to be counted. This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 195 193 (ii) (iii) lenane la ditheo tsa ditsˇhelete tse di kgotsa tse di tla nnang maloko a sekema sa ombud sa bodirelo fa se ka amogelwa; le tshedimosetso nngwe le nngwe e e tlhokegang mo foromong. Ditlhokego tsa tshedimosetso ya tlaleletso kgotsa dikwalo ka Khansele ya Ombud 195. (1) Khansele ya Ombud e ka, ka kitsiso e e kwetsweng, lopa modirakopo ya 5 kamogelo— (a) go naya Khansele ya Ombud tshedimosetso ya tlaleletso kgotsa dikwalo tse di tsepamisitsweng ke Khansele ya Ombud; le (b) go netefatsa tshedimosetso e e neetsweng ke modirakopo mabapi le kopo ka mokgwa o o tsepamisitsweng ke Khansele ya Ombud. (2) Khansele ya Ombud ga e tlhoke go tswelelela go dira ka kopo go ﬁtlhela modirakopo a ikamantse le kitsiso, e e tlhalositsweng mo karolotlaleletsong (1). Tlhomamiso ya ditiiso 196. (1) Khansele ya Ombud e tshwanetse go tlhomamisa kopo ya kamogelo go ya ka karolo 194 ka go— 10 15 (a) amogela kopo le go itsise modirakopo ka nepagalo; kgotsa (b) gana kopo le go itsise modirakopo ka nepagalo. (2) Khansele ya Ombud e ka amogela kopo ya go amogelwa go latela mabaka a a neetsweng ke Khansele ya Ombud. (3) Khansele ya Ombud ga e a tshwanela go amogela sekema sa ombud sa bodirelo 20 ntle le fa e kgotsofetse gore— (a) palo e e bonalang ya ditheo tsa ditsˇhelete e tla nna maloko a sekema sa ombud sa bodirelo, fa e ka amogelwa; (b) melawana ya go busa ya sekema sa ombud sa bodirelo— (ii) (i) e supa dikuno tsa ditsˇhelete kgotsa ditirelo tsa ditsˇhelete tse di amanang le sekema sa ombud sa bodirelo kgotsa mo lebakeng la dithulaganyetso tsa popegotheo ya mmaraka, ditirelo tse di e tlamelang; se lopa maloko a sekema sa bodirelo jwa ombud go itsise barekedi ba ditsˇhelete ka ga sekema le ka moo b aka ikgolaganyang le go ngongoregela kwa sekemeng, ka seelo se se dumetsweng ke sekema mabapi le maloko a sona; (iii) e dira kabelo e e lekaneng e bile e le maleba ya go dira dingongorego; (iv) e tlama semolao maloko a sekema sa ombud sa bodirelo; le go gatelelwa ke mokgatlho o o busang wa sekema sa ombud sa bodirelo; (v) e tlhoka leloko lengwe le lengwe la sekema sa ombud sa bodirelo go ikamanya le, le go diragatsa, tlhomamiso nngwe le nngwe ya ombud e e dirilweng go ya ka sekema sa ombud sa bodirelo; (vi) e dira kabelo e e lekaneng ya go tlhokomelwa le go elwa tlhoko ga tiro ya sekema sa ombud sa bodirelo, dipeelo le mabaka, go akaretsa le mogolo le dikunomolemo tse dingwe, tsa go dira ga ombud, le tiro nngwe le nngwe go khutlisa tiro eo; (vii) e lopa ombud go dirisa, fa go leng maleba, meono ya tekatekano fa e sekaseka ngongorego; le (viii) e ikamanya ka mokgwa mongwe le melawana e e maleba ya Khansele ya Ombud; (c) sekema se na le kgotsa ga se na ditlamelo tse di lekaneng le bokgoni jwa go netefatsa gore se ikamanya le ditlhokego tsa melao ya lephata la ditsˇhelete mabapi le dikema tsa ombuds le mabaka mangwe le mangwe a a ka tsepamiswang go ya ka karolotlaleletso (2); le (d) e amogela gore sekema sa ombud sa bodirelo se ka se nne kgatlhanong le dikgatlhego tsa barekedi ba ditsˇhelete kgotsa lephata la ditsˇhelete kgotsa kgatlhego ya setsˇhaba. (4) (a) Khansele ya Ombud e tshwanetse go tlhomamisa kopo jaaka go tlhalositswe mo karolotlaleletsong (1) mo dikgweding tse tharo morago ga fa e sena go dirwa. (b) Mo go batleng go itse gore paka e e kailweng mo temaneng (a) e fela leng, paka nngwe le nngwe magareng ga go naya modirakopo kitsiso go ya ka karolo 195 ke Khansele ya Ombud le go kgotsofatswa ga ditlhokego ga e balelwe. 25 30 35 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za
196
No. 41060
Verify source ↗

AI-assisted research summary: The Ombud Council may change, suspend, or revoke recognition of a recognised industry ombud scheme, but it must first give notice and allow submissions unless the scheme asked for the action itself.

196 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Varying conditions 194 197. (1) The Ombud Council may, by notice to a recognised industry ombud scheme, remove or vary a condition of recognition, or add a condition. (2) A variation takes effect on the date of the notice in terms of subsection (1) or, if the notice speciﬁes a later date, the later date. 5 Suspension of recognition 198. (1) The Ombud Council may, by notice to a recognised industry ombud scheme, suspend the recognition of the scheme if— the industry ombud scheme applies for suspension; (a) (b) a condition of recognition has been contravened or not been complied with in 10 (c) (d) (e) (f) a material way; the industry ombud scheme, an ombud for the industry ombud scheme, or a signiﬁcant number of the ﬁnancial institutions that are members of the industry ombud scheme, have contravened in a material way the governing rules of the industry ombud scheme, a provision of a ﬁnancial sector law relating to ombuds or Ombud Council rules; information provided in, or in relation to, an application to the Ombud Council in relation to the industry ombud scheme was false or misleading, including by omission, in a material way; the industry ombud scheme is not complying with a requirement of this Act; the suspension is necessary to prevent— (i) a serious contravention of a ﬁnancial sector law; or (ii) ﬁnancial customers of the members of the industry ombud scheme from suffering material prejudice; or (g) a fee, a levy or an administrative penalty payable by the industry ombud scheme, including any interest, is unpaid and has been unpaid for at least 30 days after it is due. (2) The Ombud Council may at any time revoke the suspension. (3) A suspension takes effect on the date of the notice in terms of subsection (1), or a later date speciﬁed in the notice. (4) A suspension does not affect an obligation of the industry ombud scheme that it has in terms of a ﬁnancial sector law, including an obligation to report a matter to the Ombud Council. 15 20 25 30 Revocation of recognition 199. (1) The Ombud Council may, by notice to a recognised industry ombud scheme, 35 revoke the recognition of an industry ombud scheme— if the industry ombud scheme applies for revocation; (a) (b) on any of the bases on which it may suspend recognition, as set out in section 198(1)(b) to (g); or if the scheme has ceased to function. (c) (2) Revocation of recognition takes effect on the date of the notice in terms of subsection (1) or, if the notice speciﬁes a later date, the later date. Procedure for varying, suspending and revoking recognition 200. (1) (a) Before the Ombud Council varies a condition of, or suspends or revokes, the recognition of a recognised industry ombud scheme, it must— 40 45 (i) (ii) give the industry ombud scheme notice of the proposed action and a statement of the reasons for it; and invite the industry ombud scheme to make submissions on the matter, and give it a reasonable period to do so. (b) The period referred to in paragraph (a)(ii) must be at least one month. (2) The Ombud Council need not comply with subsection (1) if the industry ombud 50 scheme has applied for the proposed action to be taken. This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 197 Mabaka a a forologanang 195 197. (1) Khansele ya Bolaodi ya Ombud e ka, ka kitsiso go sekema se se amogetsweng sa ombud, tlosa kgotsa fetola lebaka la kamogelo, kgotsa tlatsa lebaka. (2) Phetolo e tsenngwa mo tirisong ka letlha la kitsiso go ya ka karolotlaleletso (1) kgotsa, fa kitsiso e tsapimisa letlha le lengwe la moragonyana, letlha la moragonyana. Kemiso ya kamogelo 198. (1) Khansele ya Ombud e ka, ka kitsiso go sekema sa ombud se se amogetsweng (c) (a) (b) sa bodirelo, sekega go amogelwa ga sekema sa ombud sa bodirelo fa— sekema sa ombud sa bodirelo se dira kopo ya kemiso; lebaka la kamogelo le tlotswe kgotsa le sa obamelwa ka mokgwa o o tseneletseng; sekema sa ombud sa bodirelo, ombuds wa sekema sa ombud sa bodirelo kgotsa palo e e bonalang ya ditheo tsa ditsˇhelete tse e leng maloko a sekema sa ombud sa bodirelo a tlotse ka tsenelelo e kgolo melawana ya go busa ya sekema sa ombud sa bodirelo kgotsa kabelo ya molao wa lephata la ditsˇhelete, kgotsa melawana ya Khansele ya Ombud, e e amanang le ombuds; tshedimosetso e e tlametsweng mo, kgotsa mabapi le, kopo mabapi le Khansele ya Ombud mabapi le sekema sa ombud sa bodirelo e ne e fosagetse kgotsa e timetsa, go akaretsa le ka tlogelo, ka tsenelelo e kgolo; sekema sa ombud sa bodirelo se sa ikamanye le tlhokego ya Molao ono; tshekego e botlhokwa go thibela— (i) (ii) barekedi ba ditsˇhelete ba baabelwadilaesense gore ba se gobelelwe ka tlolo e e masisi ya molao wa lephata la ditsˇhelete; kgotsa (e) (f) (d) tsenelelo e kgolo; kgotsa (g) tuelo, lekgethwana kgotsa kotlhao ya tsamaiso e e duelwang ke sekema sa ombud sa bodirelo, go akaretsa le morokotso, ga e a duelwa e bile e ntse e sa duelwa bonnye matsatsi a le 30 morago ga fa e tshwanetse go duelwa. (2) Khansele ya Ombud e ka phimola kemiso ka nako nngwe le nngwe. (3) Tshekego e tsenngwa mo tirisong ka letlha la kitsiso go ya ka karolotlaleletso (1), kgotsa letlha le le kwa moragonyana le le tsepamisitsweng mo kitsisong. (4) Tshekego ga e ame tlamego ya sekema sa ombud sa bodirelo e se nang le yona go ya ka molao wa lephata la ditsˇhelete, go akaretsa le tlamego ya go begela Khansele ya Ombud morero. Kgogelomorago ya kamogelo 5 10 15 20 25 30 199. (1) Khansele ya Bolaodi ya Ombud e ka, ka kitsiso go sekema sa ombud se se 35 amogetsweng sa bodirelo, phimola kamogelo ya sekema sa ombud sa bodirelo— fa sekema sa ombud sa bodirelo se dira kopo ya phimolo; (a) (b) mo go nngwe le nngwe ya mabaka ao e ka emisang kamogelo, jaaka go tlhalositswe mo karolong 198(1)(b) go ﬁtlha go (g); kgotsa fa sekema se khutlisitse go dira. (c) 40 (2) Phimolo ya kamogelo e tsenngwa mo tirisong ka letlha la kitsiso go ya ka karolotlaleletso (1) kgotsa, fa kitsiso e tsapamisa letlha la moragonyana, letlha la moragonyana. Tsamaiso ya phorologantsho, tshekego le kgogelomorago ya kamogelo 200. (1) (a) Pele Khansele ya Ombud e fetola lebaka la, kgotsa e sekega kgotsa e 45 phimola, kamogelo ya sekema sa ombud sa bodirelo, e tshwanetse— (i) (ii) go naya sekema sa ombud sa bodirelo kitsiso ya tiro e e tshitsintsweng le polelo ya mabaka a yona; le go laletsa sekema sa ombud sa bodirelo go dira ditlhagiso ka ga morero, le go se naya nako e e lekaneng go dira jalo. (b) Nako e e kailweng mo temaneng (a)(ii) e tshwanetse go nna bonnye kgwedi e le 50 esi. (2) Khansele ya Ombud e tlhoka go ikamanya le karolotlaleletso (1) fa sekema sa ombud sa bodirelo se dirile kopo ya gore tiro e dirwe. This gazette is also available free online at www.gpwonline.co.za
198
No. 41060
Verify source ↗

AI-assisted research summary: The Ombud Council may make rules for ombuds and ombud schemes, but those rules must align with financial sector laws and must not interfere with an ombud’s independence or a complaint investigation or decision.

198 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 196 (3) In deciding whether to vary a condition of, or suspend or revoke, recognition, the Ombud Council must have regard to all submissions made within the period speciﬁed in the notice in terms of subsection (1)(a)(ii). (4) The Ombud Council may take the action without having complied, or complied fully, with subsection (1) if the delay involved in complying, or complying fully, with that subsection in respect of a proposed action is likely to lead to material prejudice to ﬁnancial customers or defeat the object of the action. (5) (a) If the Ombud Council takes action without having complied, or complied fully, with subsection (1) for the reason set out in subsection (4), the industry ombud scheme must be given a written statement of the reasons why that subsection was not complied with. (b) The industry ombud scheme may make submissions to the Ombud Council within one month after being provided with the statement. (c) The Ombud Council must have regard to the submissions, and notify the industry ombud scheme, as soon as practicable, whether the Ombud Council proposes to amend or revoke the variation, suspension or revocation. 5 10 15 Part 3 Powers of Ombud Council Ombud Council rules 201. (1) The Ombud Council may make rules for, or in respect of, ombuds and ombud schemes, aimed at ensuring that ﬁnancial customers have access to, and are able to use affordable and effective, independent and fair alternative dispute resolution processes for complaints about ﬁnancial institutions in relation to ﬁnancial products, ﬁnancial services, and services provided by market infrastructures. 20 (2) Ombud Council rules in terms of subsection (1) may be made on any of the 25 following matters: (a) Governing rules of ombud schemes; (b) governance of ombud schemes, including in relation to— (i) the composition, membership and operation of governing bodies and of substructures of ombud schemes; and (ii) the roles and responsibilities of governing bodies and their substructures; the qualiﬁcations and experience of ombuds, including ﬁt and proper person requirements for ombuds and for members of governing bodies of industry ombud schemes; the deﬁnition and type of complaints to be dealt with by speciﬁed ombud schemes; (c) (d) (e) dispute resolution processes; (f) any matters on which a regulatory instrument may be issued by the Ombud Council in terms of a speciﬁc ﬁnancial sector law in so far as it relates to ombud schemes and ombuds; (g) matters that may in terms of any other provision of this Act be regulated by 30 35 40 rules of the Ombud Council; and (h) any other matter that is appropriate and necessary for achieving the aim set out in subsection (1). (3) An Ombud Council rule must not be inconsistent with relevant ﬁnancial sector 45 laws. (4) An Ombud Council rule must not interfere with the independence of an ombud or the investigation or determination of a speciﬁc complaint. (5) The Ombud Council must, in developing Ombud Council rules— (a) (b) seek to provide for a consistent approach and consistent requirements for all ombud schemes, promote the efficiency and cost-effectiveness of ombud schemes, and promote co-ordination and co-operation between ombud schemes; and take into account differences in the nature and complexity of complaints heard by different ombud schemes. 50 55 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 199 197 (3) Mo go swetseng ka go fetola lebaka la, kgotsa emisa kgotsa phimola, kamogelo, Khansele ya Ombud e tshwanetse go ela tlhoko ditlhagiso tsotlhe tse di dirilweng mo nakong e e tsepamisitsweng mo kitsisong go ya karolotlaleletso (1)(a)(ii). (4) Khansele ya Ombud e ka dira tiro ntle le go ikamanya, kgotsa go ikamanya ka botlalo, le karolotlaleletso (1) fa tiego e e amanang le go ikamanya, kgotsa go ikamanya ka botlalo, le karolotlaleletso eo mabapi le tiro e e tshitsintsweng e ka tlisa ditlamorago tsa kgobelelo e e tseneletseng go barekedi ba ditsˇhelete, ya ama ka kgobelelo tlhomamo ya ditsˇhelete kgotsa ya fenya maikaelelo a tiro. (5) (a) Fa Khansele ya Ombud e dira tiro ntle le go ikamanya, kgotsa go ikamanya ka botlalo, le karolotlaleletso (1) ka mabaka a a tlhalositsweng mo karolotlaleletsong (4), sekema sa ombud sa bodirelo se tshwanetse go newa polelo e e kwetsweng ya mabaka a gore goreng go sa ikamanngwa le karolotlaleletso eo. (b) Sekema sa ombud sa bodirelo se ka dira ditlhagiso go Khansele ya Ombud mo kgweding e le esi morago ga go tlamelwa ka polelo. (c) Khansele ya Ombud e tshwanetse go ela tlhoko ditlhagiso, le go itsise sekema sa ombud sa bodirelo, ka bonako jo bo kgonagalang, le fa ka gongwe Khansele ya Ombud e tshitsintse go tlhabolola kgotsa phimola phetolo, sekega kgotsa phimola. Karolo 3 Dithata tsa Khansele ya Ombud Melao ya Khansele ya Ombud 201. (1) Khansele ya Ombud e ka dira melawana go, kgotsa mabapi le, ombuds le dikema tsa ombuds, tse di ikaelelang go netefatsa gore badirisi ba ditsˇhelete ba ﬁtlhelela, gape ba kgona go, dirisa kgato e nngwe ya tharabololo ya thulano e e duelegang, nonoﬁleng, ikemetseng le go lolama go dingongorego tse di ka ga ditheo tsa ditsˇhelete mabapi le dikuno tsa ditsˇhelete le ditirelo tsa ditsˇhelete le ditirelo tse di tlamelwang ke thulaganyetso ya popegotheo ya mmaraka. (2) Melawana ya ombuds mabapi le karolotlaleletso (1) e ka dirwa mabapi le nngwe le nngwe ya merero e e latelang: (a) Melawana ya go busa ya dikema tsa ombud; (b) puso ya dikema tsa ombud, go akaretsa le mabapi le— (i) sebopego, botokololo le tiro ya mekgatlho e e busang le ya mekgatlhotlaleletso ya dikema tsa ombud; le (ii) ditiro le maikarabelo a mekgatlho e e busang le mekgatlhotlaleletso ya yona; (c) borutegi le maitemogelo a ombuds; (d) tlhaloso le mofuta wa dingongorego tse di tshwanetseng go sekasekwa ke sekema sa ombuds se se tsepamisitsweng; (e) dikgato tsa go rarabolola dikgotlhang; (f) merero mengwe le mengwe e sediriso sa bolaodi se ka diriswang mo go yona e ka rebolwa ke Khansele ya Ombud go ya ka molao o o tsepameng wa lephata la ditsˇhelete go ya jaaka e amana le dikema tsa ombud le ombuds; (g) merero e go ya ka kabelo nngwe le nngwe ya Molao ono e ka laolwang ka melawana ya Khansele ya Ombud; le (h) morero mongwe le mongwe o o maleba e bile o tlhokega go ﬁtlhelela maikaelelo a a tlhalositsweng mo karolotlaleletsong (1). (3) Molawana wa Khansele ya Ombud o tshwanetse go tsamaelana le melao e e 5 10 15 20 25 30 35 40 45 maleba ya lephata la ditsˇhelete. (4) Molawana wa Khansele ya Ombud ga o a tshwanela go kgoreletsa le go ikemela ga ombud kgotsa patlisiso kgotsa tlhomamiso ya ngongorego e e tsepameng. (5) Khansele ya Ombud e tshwanetse, mo go tlhabololeng melawana ya Khansele ya 50 Ombud— (a) go batla go tlamela mabapi le mokgwa o o tlhomameng le ditlhokego tse di tlhomameng go dikema tsotlhe tsa ombud, go tsweletsa bokgoni le poloko ya ditshenyegelo ya dikema tsa ombud, le go tsweletsa kopano le tirisanommogo magareng ga dikema tsa ombud; le (b) go tsaya tsia dipharologano mo tlholegong le tharaanong ya dingongorego tse 55 di reeditsweng ke dikema tsa ombud tse di farologaneng. This gazette is also available free online at www.gpwonline.co.za
214
No. 41060
Verify source ↗

AI-assisted research summary: This provision sets how Tribunal members are appointed, who may serve, how long they serve, and what the Chairperson and Minister can do in relation to the Tribunal.

214 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Members of Tribunal 212 220. (1) The Tribunal consists of as many members, appointed by the Minister, as the Minister may determine. (2) The Tribunal members must include— (a) at least two persons who are retired judges, or are persons with suitable 5 expertise and experience in law; and (b) at least two other persons with experience or expert knowledge of ﬁnancial products, ﬁnancial services, ﬁnancial instruments, market infrastructures or the ﬁnancial system. (3) A person may not be appointed to, or hold office as, a Tribunal member if the 10 person— (a) (b) is a disqualiﬁed person; or is not a citizen of the Republic or is not ordinarily resident in the Republic. (4) The Minister must appoint a Tribunal member referred to in subsection (2)(a) as the Chairperson, and may appoint another Tribunal member as Deputy Chairperson. 15 (5) The Chairperson— (a) must preside at meetings of the Tribunal; and (b) is responsible for managing the work of the Tribunal effectively. (6) The Deputy Chairperson performs the functions of the Chairperson on delegation by the Chairperson, or in the absence of the Chairperson, or if for any reason the office of the Chairperson is vacant. 20 Term of office and termination of membership 221. (1) A Tribunal member holds office for— (a) (b) three years from the date of the member’s appointment; or if a shorter period is speciﬁed in the appointment of the Tribunal member, that shorter period. 25 (2) A Tribunal member may be re-appointed at the expiry of a term. (3) A person may resign as a Tribunal member by giving at least three months written notice to the Minister, or a shorter period of notice that the Minister may accept. (4) The Minister must terminate a person’s appointment as a Tribunal member if the 30 member becomes a disqualiﬁed person. (a) (5) The Minister may terminate a person’s appointment as a Tribunal member if— the member is unable to perform the functions of office for health or other reasons; or (b) an independent member— (i) has failed in a material way to discharge any of the responsibilities of inquiry established by the Minister has found that the office; or (ii) has acted in a way that is inconsistent with continuing to hold the office. (6) If an independent inquiry has been established in terms of subsection (5)(b) in relation to a member, the Minister may suspend the member from office pending a decision on the removal of the member. (7) A Tribunal member holds office on terms and conditions, including as to remuneration, not inconsistent with this Act, determined by the Minister. Staff and resources 222. (1) The Chairperson may, in accordance with applicable law— (a) for the work of the Tribunal— (i) appoint persons as employees; (ii) enter into secondment arrangements; or (iii) engage persons on contract otherwise than as employees; (b) enter into contracts; (c) (d) acquire and dispose of property; insure the Tribunal against any loss, damage, risk or liability that it may suffer or incur; and 35 40 45 50 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 215 Maloko a Lekgotla 213 220. (1) Lekgotla le na le maloko a le mantsi, a a thapilweng ke Tona, jaaka Tona a ka tlhomamisa. (2) Maloko a Lekgotla a tshwanetse go akaretsa— (a) bonnye batho ba le babedi bao e leng baatlhodi ba ba rotseng tiro, kgotsa ke 5 batho ba nang le kitso e kgolo e e maleba le maitemogelo mo molaong; le (b) bonnye batho ba bangwe ba babedi bao ba nang le maitemogelo kgotsa kitso e e kwa godimo ya dikuno tsa ditsˇhelete, ditirelo tsa ditsˇhelete, didiriso tsa ditsˇhelete, dithulaganyetso tsa popegotheo ya mmaraka kgotsa dithulaganyo tsa ditsˇhelete. (3) Motho o ka se thapelwe go, kgotsa go dira jaaka, leloko la Lekgotla fa motho— (a) a ileditswe; kgotsa (b) e se moagi wa Rephaboliki kgotsa e se moagi ka tlwaelo mo Rephaboliking. (4) Tona o tshwanetse go thapa leloko la Lekgotla le le kailweng mo karolo- tlaleletsong (2)(a) jaaka Modulasetilo, e bile o ka thapa leloko le lengwe la Lekgotla jaaka Motlatsamodulasetilo. (5) Modulasetilo— (a) o tshwanetse go okamela kwa dikopanong tsa Lekgotla; le (b) o rwala maikarabelo a go laola tiro ya Lekgotla ka nonofo. (6) Motlatsamodulasetilo o dira ditiro tsa Modulasetilo ka tholelo ya Modulasetilo, kgotsa fa Modulasetilo a seyo, kgotsa fa ka lebaka lengwe go na le phatlatiro ya modulasetilo. Paka ya tiro le khutliso ya boloko 221. (1) Leloko la Lekgotla le dira— (a) (b) sebaka sa dingwaga tse tharo go simolola ka letlha la go thapiwa ga leloko; kgotsa fa paka e e khutshwane e tsepamisitswe mo go thapiweng ga leloko la Lekgotla, paka eo e khutshwane. (2) Leloko la Lekgotla le ka thapiwa gape kwa bokhutlong jwa paka. (3) Motho o ka rola tiro jaaka leloko la Lekgotla ka go romelela Tona kitsiso ya bonnye dikgwedi di le tharo, kgotsa nako e khutshwane ya kitsiso e Tona o ka e amogelang. (4) Tona o tshwanetse go khutlisa go thapiwa ga motho jaaka leloko Lekgotla fa motho a ileditswe. (5) Tona o ka khutlisa go thapiwa ga motho jaaka leloko la Lekgotla fa— (a) (b) leloko le sa kgone go dira ditiro tse le di thapetsweng ka ntlha ya mabaka a boitekanelo kgotsa mabaka a mangwe; kgotsa fa patlisiso e e ikemetseng e e tlhomilweng ke Tona e ﬁtlheletse gore leloko— le paletswe ka gotlhe go diragatsa nngwe le nngwe ya maikarabelo a lona (i) a tiro; kgotsa le dirile ka mokgwa o o satsamaelaneng le ditlhokego tsa go tswelela pele go dira. (ii) (6) Fa patlisiso e e ikemetseng e tlhomilwe go ya ka karolotlaleletso (5)(b) mabapi le leloko, Tona o ka emisa leloko mo tirong go sa letilwe tshwetso ka ga go tloswa ga leloko. (7) Leloko la Lekgotla le dira go ya ka dipeelo le mabaka, go akaretsa le ka ga go duelwa, go go tsamaelanang le Molao ono, tse di tlhomamisitsweng ke Tona. Badiri le ditlamelo 222. (1) Modaulasetilo o ka, go tsamaelana le molao o o maleba— (a) mabapi le tiro ya Lekgotla— thapa batho jaaka badiri; (i) (ii) dira dithulaganyo tsa go tlatsa go thapiwa ga motho; kgotsa (iii) dirisana le batho ka konteraka ka pharologano le bona jaaka badiri; (b) dira dikonteraka; (c) ﬁtlhelela le go latlha thoto; (d) insˇora Lekgotla kgatlhanong le tatlhegelo nngwe le nngwe, tshenyegelo, kotsi kgotsa molato eo le ka le ka iphitlhelang le lebagane nao; le 10 15 20 25 30 35 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za
216
No. 41060
Verify source ↗

AI-assisted research summary: The Chairperson must set up panels for reconsideration cases, and the Minister must keep a panel list. Staff and listed persons are subject to conduct and eligibility rules.

216 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 214 (e) do anything else necessary for the performance of the Tribunal’s functions. (2) The Chairperson may not enter into a secondment arrangement in respect of a person, or engage persons as employees or on contract, unless the person and the Chairperson have agreed in writing on— (a) (b) the performance measures that must be used to assess that person’s performance; and the level of performance that must be achieved against those measures. 5 Duties of staff members 223. (1) A person who is or was a staff member under section 222 may not use that position or any information obtained as a staff member to— (a) (b) (c) improperly beneﬁt himself or herself or another person; impede the Tribunal’s ability to perform its functions; or cause improper detriment to another person. (2) For the purposes of this section, ‘‘beneﬁt’’ and ‘‘detriment’’ are not limited to ﬁnancial beneﬁt or detriment. Panels of Tribunal 10 15 224. (1) The Chairperson must constitute a panel of the Tribunal for each application for reconsideration of a decision. (2) The panel constituted to consider an application for the reconsideration of a decision is the decision-making body of the Tribunal, and the panel exercises any of the powers of the Tribunal relating to the reconsideration of the decision. 20 (3) The decision of the panel is the decision of the Tribunal as referred to in sections 234, 235 and 236 in respect of an application for the reconsideration of a decision. (4) A panel consists of— (a) a person to preside over the panel, who must be a person referred to in section 25 220(2)(a) or 225(2)(a)(i); and two or more persons who are Tribunal members or persons on the panel list. (5) If, for any reason, a panel member is unable to complete proceedings for a (b) reconsideration of a decision, the Chairperson may— replace that member with a person referred to in subsection (4); (a) (b) direct that the proceedings continue before the remaining panel members; or (c) constitute a new panel and direct the new panel to either continue the proceedings, or start new proceedings. 30 Panel list 225. (1) The Minister must establish and maintain a list of persons who are willing to 35 serve as members of panels of the Tribunal. (2) The persons included in the panel list must— (a) have relevant experience in or expert knowledge— (i) of law; or (ii) of ﬁnancial products, ﬁnancial services, ﬁnancial instruments, market 40 infrastructures or the ﬁnancial system; and (b) be a ﬁt and proper person to be included in the panel list. (3) A person may not be included in the panel list if the person is a disqualiﬁed person. (4) The Minister may, every ﬁve years, publicly invite persons to apply for inclusion in the panel list. 45 (5) The Chairperson must ensure that the persons included in the panel list have an equal opportunity to be appointed to serve on a panel of the Tribunal. This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 217 215 (e) dira sengwe le sengwe se se tlhokegang mabapi le tiragatso ya ditiro tsa Lekgotla. (2) Modulasetilo o ka se dire thulaganyo ya go tlatsa go thapiwa ga motho, kgotsa go dirisa motho jaaka modiri kgotsa modiri wa konteraka, ntle le fa fela motho le Modulasetilo ba dumalane ka go kwala ka ga— 5 (a) ditekanyetso tsa tiro tse di tshwanetseng go diriswa go lekanyetsa tiragatso ya motho; le (b) boemo jwa tiro jo bo tshwanetseng go ﬁtlhelelwa kgatlhanong le ditekanyetso tseo. Ditiro tsa badiri 223. (1) Motho yo e leng kgotsa yo e neng e le leloko la badirimmogo ka fa tlase ga karolo 222 o ka se dirise maemo ao kgotsa tshedimosetso nngwe le nngwe e a e ﬁtlheletseng jaaka leloko la badiri go— (a) una molemo e seng ka tshwanelo kgotsa go dira gore motho yo mongwe a une molemo; (b) kgoreletsa bokgoni jwa Lekgotla jwa go dira ditiro tsa jona; kgotsa (c) thatafeletsa motho yo mongwe. (2) Mabapi le maitlhomo a karolo eno, ‘‘kunomolemo’’ le ‘‘thatafaletso’’ ga di a lekanyetswa go kunomolemo kgotsa thatafaletso ya ditsˇhelete. Dipanele tsa Lekgotla 224. (1) Modulasetilo o tshwanetse go tlhama panele ya Lekgotla mabapi le kopo nngwe le nngwe ya tshekatshekogape ya tshwetso. (2) Panele e tlhometswe go sekaseka kopo mabapi le mokgatlho o o dirang ditshwetso wa Lekgotla, e bile panele e diragatsa nngwe le nngwe ya dithaa tsa Lekgotla tse di amanang le tshekatshekogape ya tshwetso. (3) Tshwetso ya panele ke tshwetso ya Lekgotla jaaka go kailwe mo dikarolong 234, 235 le 236 mabapi le kopo ya tshekatshekogape ya tshwetso. (4) Panele e bopilwe ka— (a) motho yo o tla okamang panele, yo e tshwanetseng go nna motho yo o kailweng mo karolong 220(2)(a) kgotsa 225(2)(a)(i); le (b) batho ba le babedi kgotsa go feta ba e leng maloko a Lekgotla kgotsa batho ba ba leng mo lenaneng la panele. (5) Fa ka lebaka lefe, leloko la panele le sa kgone go feleletsa ditsamaiso tsa (a) tshekatshekogape ya tshwetso,Modulasetilo o ka— tsenya mo boemong jwa karolotlaleletsong (4); laela gore ditsamaiso di tswelele pele fa pele ga maloko a a setseng a panele; kgotsa tlhoma panele e ntsˇhwa le go laela panele e ntsˇhwa go tswelela pele ka ditsamaiso, kgotsa go simolola ditsamaiso tse dintsˇhwa. leloko leo motho yo o kailweng mo (b) (c) Lenane la panele 225. (1) Tona o tshwanetse go tlhoma le go tlamela lenane la batho ba ba ikemiseditseng go dira jaaka maloko a dipanele tsa Lekgotla. (2) Batho ba ba akareditsweng mo lenaneng la panele ba tshwanetse— (a) go nna le maitemogelo mo kgotsa kitso ya boitseanape— 10 15 20 25 30 35 40 45 (i) ya molao; kgotsa (ii) ya dikuno tsa ditsˇhelete,ditirelo tsa ditsˇhelete, didiriso tsa ditsˇhelete, dithulaganyetso tsa popegotheo ya mmaraka kgotsa dithulaganyo tsa ditsˇhelete; le (b) go nna motho yo o itekanetseng e bile a le matshwanedi go ka akaretswa mo 50 lenaneng la panele. (3) Motho o ka se akaretswe mo lenaneng la panele fa e le motho yo o ileditsweng. (4) Tona o ka, dingwaga dingwe le dingwe tse tlhano, laletsa mo phatlalatseng batho go dira kopo ya go akaretswa mo lenaneng la panele. (5) Modulasetilo o tshwanetse go netefatsa gore batho ba ba akareditsweng mo lenaneng la panele ba newa tsˇhono e e lekanang ya go thapiwa go dira mo paneleng ya Lekgotla. 55 This gazette is also available free online at www.gpwonline.co.za
218
No. 41060
Verify source ↗

AI-assisted research summary: Panel members must disclose material interests and withdraw from the hearing. The Chairperson must keep disclosure records, maintain an annual disclosure system, and may make and change tribunal rules that must be published.

218 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 216 (6) The Minister— (a) must remove a person from the panel list— if the person so requests; or if the person becomes a disqualiﬁed person; and (i) (ii) (b) may, on recommendation of the Chairperson, remove a person from the panel 5 list if the person— (i) (ii) has failed in a material way to discharge any of the responsibilities of a is unable to act as a panel member for health or other reasons; panel member; or (iii) has acted in a way that is inconsistent with acting as a panel member. 10 Disclosure of interests 226. (1) (a) If before or during proceedings in which a panel member is participating, it becomes apparent that the panel member or a person who is a related party to the panel member has an interest in the decision that the panel has been constituted to reconsider, the panel member must— (i) immediately and fully disclose this interest to the other members of the panel; and (ii) withdraw from any further involvement in the hearing. (b) A disclosure in terms of paragraph (a) by the Chairperson must, in addition, be made to the Minister. (c) A disclosure in terms of paragraph (a) by another panel member must, in addition, be made to the Chairperson. (2) For the purposes of this section, it does not matter— (a) whether an interest is direct, indirect, pecuniary or non-pecuniary; or (b) when the interest was acquired. (3) In this section, ‘‘interest’’ does not include an interest that is not material. (4) The Chairperson must maintain a register of all disclosures made in terms of this section, and must maintain a system for the annual disclosure of interests by members of the Tribunal. Tribunal rules 15 20 25 30 227. (1) The Chairperson may make rules, not inconsistent with this Act, in respect of the procedure to be followed in connection with proceedings on applications for reconsideration of decisions in terms of this Chapter, and the conduct of those proceedings, and may at any time amend or revoke those rules. (2) Tribunal rules, and amendments and revocations of Tribunal rules, must be 35 published. Part 3 Right to reasons for decisions Right to be informed
256
The National Treasury must establish and maintain the Financial Sector
Verify source ↗

AI-assisted research summary: The National Treasury must establish and maintain the Financial Sector Information Register in line with this Part.

256. The National Treasury must establish and maintain the Financial Sector Information Register in accordance with this Part. Purpose of Register
257
The purpose of the Register is to provide reliable access to accurate, authoritative
Verify source ↗

AI-assisted research summary: The Register must be kept electronically and in a way that allows public access and searching. It may also include other relevant documents, and the Director-General decides which additional documents can be included.

257. The purpose of the Register is to provide reliable access to accurate, authoritative and up to date information relating to ﬁnancial sector laws, Regulations, regulatory instruments and their implementation. Content of Register 10 15 258. (1) The Register is a database of the documents listed in Schedule 3. (2) The Register may include other documents that are relevant to the regulation and supervision of the ﬁnancial sector and the Director-General determines which other documents may be included in the Register. 20 Keeping of Register 259. (1) The Register must be kept in an electronic form. (2) The Register must be kept in a way that facilitates access and searching of the 25 Register by members of the public. Requirements for registered documents
260
The Director-General may make a written determination—
Verify source ↗

AI-assisted research summary: The Director-General may issue a written determination about what documents and information are required for the Register, and how documents are sent to the National Treasury for registration.

260. The Director-General may make a written determination— (a) (b) specifying requirements for documents that must be, or may be, included in the Register, including requiring persons lodging a document for registration to provide information about the document, to ensure that the Register is useful for persons accessing the Register; and specifying procedures for transmitting documents to the National Treasury for registration. 30 35 Status of Register and judicial notice 261. (1) The Register is, for all purposes, taken to be a complete and accurate record of all ﬁnancial sector laws and all regulatory instruments that are included in the Register. (2) A compilation of a law or a regulatory instrument that is included in the Register is, unless the contrary is established, taken to be a complete and accurate record of that law or regulatory instrument as amended and in force at the date speciﬁed in the compilation. 40 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 241 Thibelo ya tirisobotlhaswa 239
254
Motho o ka se gobelele motho yo mongwe mo tirong, kgotsa o ka se atlhole
Verify source ↗

AI-assisted research summary: A person must not retaliate against someone in work or otherwise punish them because they made a report under section 252 or 253, even if the report was not legally required.

254. Motho o ka se gobelele motho yo mongwe mo tirong, kgotsa o ka se atlhole motho yo mongwe ka mokgwa mongwe le mongwe, ka lebaka la gore motho yo mongwe o— (a) dirile pegelo go ya ka karolo 252; kgotsa (b) dirile pegelo go ya ka karolo 253, le fa pegelo e ne e sa tlhokwe ke molao. 5 Ditshenolo tse di sireleditsweng
255
Dikarolo 252 le 253 di diriswa mo godimo ga, e bile ga di lekanyetse, molao
Verify source ↗

AI-assisted research summary: Sections 252 and 253 apply in addition to, and do not limit, any law that protects people who accurately report crimes.

255. Dikarolo 252 le 253 di diriswa mo godimo ga, e bile ga di lekanyetse, molao mongwe le mongwe o mongwe o o tlamelang ka tshireletso mo bathong ba ba begang ka nepagalo ditlolomolao. 10 Karolo 2 Rejisetara ya Tshedimosetso ya Lephata la Ditsˇhelete Go tlhongwa le tiro ya Rejisetara ya Tshedimosetso ya Lephata la Ditsˇhelete
256
Matlole a Bosetsˇhaba a tshwanetse go tlhoma le go tshegetsa Rejisetara ya
Verify source ↗

AI-assisted research summary: The National Treasury must establish and maintain the Register of Information for the Department of Finance under this Part.

256. Matlole a Bosetsˇhaba a tshwanetse go tlhoma le go tshegetsa Rejisetara ya Tshedimosetso ya Lephata la Ditsˇhelete go tsamaelana le Karolo eno. Maitlhomo a Rejisetara
257
Maitlhomo a Rejisetara ke go tlamela ka phitlhelelo e e tshepagalang go
Verify source ↗

AI-assisted research summary: The Register must be kept electronically and in a way that makes it easy for the public to access and search.

257. Maitlhomo a Rejisetara ke go tlamela ka phitlhelelo e e tshepagalang go tshedimosetso e e nepagetseng, e e maatla e bile e le mo nakong e e amanang le melao ya lephata la ditsˇhelete, Melawana, didiriso tsa bolaodi le go tsenngwa mo tirisong ga tsona. Diteng tsa Rejisetara 258. (1) Rejisetara ke deithabeisi ya dikwalo tse di neetsweng mo Sˇejuleng 3. (2) Rejisetara e ka akaretsa dikwalo tse dingwe tse di maleba go taolo le tlhokomelo ya lephata la ditsˇhelete le Mokaedikakaretso o tlhomamisa gore ke dikwalo dife tse dingwe tse di ka akaretswang mo Rejisetareng. Go tsholwa Rejisetera 259. (1) Rejisetara e tshwanetse go tsholwa ka mokgwa wa seileketeroniki. (2) Rejisetara e tshwanetse go tsholwa ka mokgwa o o nolofatsang phitlhelelo le patlo ya Rejisetara ka maloko a setsˇhaba. Ditlhokego tsa makwalo kwadisitsweng
260
Mokaedikakaretso o ka dira tlhomamiso e e kwetsweng—
Verify source ↗

AI-assisted research summary: The Registrar may issue directions about what documents must or may be included in the Register and how documents are sent for registration.

260. Mokaedikakaretso o ka dira tlhomamiso e e kwetsweng— (a) e e tsepamisang ditlhokego tsa dikwalo tse di tshwanetseng go, kgotsa tse di ka, akaretswang mo Rejisetareng, go akaretsa le go kopa motho yo o kwadisang lokwalo gore a tlamele ka tshedimosetso ya lokwalo, go netefatsa gore Rejisetara e mosola mo bathong ba ba ﬁtlhelelang Rejisetara; le (b) e e tsepamisang ditsamaiso tsa go fetisetsa dikwalo go Matlole a Bosetsˇhaba gore di kwadiswe. Boemo jwa Rejisetara le kitsiso ya boatlhodi 261. (1) Rejisetara e, mabapi le maitlhomo otlhe, tseelwa gore ke rekoto e e tladitsweng e bile e nepagetse ya melao yotlhe ya lephata la ditsˇhelete le didiriso tsotlhe tsa bolaodi tse di akareditsweng mo Rejisetareng. (2) Tlhamo ya molao kgotsa sediriso sa bolaodi se se akareditsweng mo Rejisetareng e, ntle le fa go lemogwa kganetsano, tseelwa gore ke rekoto e e feletseng e bile e e nepagetseng ya molao oo kgotsa sediriso sa bolaodi jaaka e tlhabolotswe le go diriswa ka letlha le le tsepamisitsweng mo tlhamong. 15 20 25 30 35 40 45 This gazette is also available free online at www.gpwonline.co.za
242
No. 41060
Verify source ↗

AI-assisted research summary: In proceedings, proof is not required for the Register’s contents or commencement status, and a court or tribunal may examine those matters in any way it considers fit.

242 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 240 (3) (a) In any proceedings, proof is not required about the provisions and coming into effect, in whole or in part, of a law or regulatory instrument as it appears in the Register. (b) A court or tribunal may inform itself about those matters in any way it deems ﬁt. (4) It is presumed, unless the contrary is established— (a) (b) that a document that purports to be an extract from the Register is what it purports to be; and that a regulatory instrument, a copy of which is produced from the Register, was registered on the day and at the time stated in the copy. Extracts from Register regarding licence status
262
An extract from the Register, in the form determined by, and authenticated as
Verify source ↗

AI-assisted research summary: The Director-General may correct Register errors and may delegate Register-related powers or duties in writing, but must annotate corrected records with details of the rectification.

262. An extract from the Register, in the form determined by, and authenticated as determined by, the Director-General, that shows that, at a speciﬁed date, after this Part comes into effect— (a) a person was or was not licensed under a ﬁnancial sector law; (b) a speciﬁed licence was or was not subject to speciﬁed conditions; (c) a speciﬁed licence was, at a speciﬁed time, suspended, cancelled or revoked; or (d) a speciﬁed ﬁnancial institution was at a speciﬁed time a systemically important ﬁnancial institution, 5 10 15 is admissible as evidence of the facts and matters stated in it and, unless the contrary is established, is conclusive. 20 Rectiﬁcation of Register 263. (1) The Director-General may arrange for the Register to be corrected to rectify errors. (2) If the Register is corrected, the Director-General must annotate relevant records in the Register to explain the nature of the rectiﬁcation and specify the date and time the rectiﬁcation was made and the reason for the rectiﬁcation. 25 Delegations by Director-General 264. (1) The Director-General may, in writing, delegate any power or duty of the Director-General in relation to the Register, except the power of delegation, to a staff member of the National Treasury or any other suitable person, and the Director-General may, at any time, amend or revoke a delegation. (2) A delegation may be to a speciﬁed person or to the person holding a speciﬁed 30 position. (3) A delegation is subject to the limitations and conditions speciﬁed in the delegation. (4) A delegation does not divest the Director-General of responsibility in respect of 35 the delegated power or duty. (5) Anything done by a delegate in accordance with the delegation is taken to be done by the Director-General. Part 3 Offences and penalties Duties of members and staff of certain bodies

Part

Part 3

200
No. 41060
Verify source ↗

AI-assisted research summary: The Ombud Council may issue directives to ombuds or ombud schemes, but must follow a fair process and specify a reasonable compliance period.

200 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 198 (6) Different Ombud Council rules may be made for, or in respect of— (a) different categories of ombuds and ombud schemes; and (b) different circumstances. (7) (a) The Ombud Council may, on application from an ombud scheme, exempt that ombud scheme from an Ombud Council rule for a speciﬁed period of time, provided that the Ombud Council is satisﬁed that the intended outcome of the rule will still be met. (b) Any such exemption may be subject to conditions set by the Ombud Council. (8) An Ombud Council rule may amend or revoke another Ombud Council rule. Directives of Ombud Council 202. (1) The Ombud Council may issue to a person who is an ombud, or to an ombud scheme, a written directive requiring the person to take action speciﬁed in the directive if the person has contravened or is likely to contravene a ﬁnancial sector law in so far as it relates to ombud schemes. (2) A directive issued in terms of subsection (1) must be aimed at achieving the objective of the Ombud Council set out in section 176 and stopping the ombud or ombud scheme from contravening applicable ﬁnancial sector laws in so far as they relate to ombud schemes, or reducing the risk of such contraventions. (3) The Ombud Council may not issue a directive that requires a speciﬁed person to be removed from a position or function in relation to an ombud scheme unless the person— (a) has contravened a provision of a ﬁnancial sector law or an Ombud Council rule; (b) has become a disqualiﬁed person; or (c) no longer complies with applicable ﬁt and proper person requirements. (4) Before issuing a directive in terms of this section, the Ombud Council must— (a) give the person to whom it is proposed to issue the directive a draft of the proposed directive and a statement of the reasons why the Ombud Council proposes issuing it, facts and circumstances; and invite the person to make submissions on the matter, and give the person a speciﬁed period, which must be reasonable, to do so. including a statement of the relevant (b) (5) If the directive requires a person to be removed from the person’s position or function in relation to an ombud scheme, the Ombud Council must also— (a) give the person a draft of the proposed directive and a statement of the reasons why the Ombud Council proposes issuing it, including a statement of the relevant facts and circumstances; and invite the person to make submissions on the matter within the period speciﬁed in terms of subsection (4)(b). (b) (6) In deciding whether to issue the directive, the Ombud Council must take into account all submissions received by the end of the period referred to in subsection (4)(b). (7) If the delay involved in complying, or complying fully, with subsections (4) and (5) in respect of a proposed directive is likely to lead to prejudice to ﬁnancial customers or defeat the object of the directive, the Ombud Council may issue the directive without having complied, or complied fully, with those subsections. (8) (a) If the Ombud Council issues a directive without having complied, or complied fully, with subsection (4) or (5), the person to whom it was issued, and, where subsection (5) applies, the person referred to in that subsection, must be given a written statement of the reasons why those subsections were not complied with. (b) A person to whom the statement was given in terms of paragraph (a) may make submissions to the Ombud Council within one month after being given the statement. (c) The Ombud Council must consider the submissions, and notify the person, as soon as practicable, whether the Ombud Council proposes to revoke the directive. (9) A directive in terms of this section must specify a reasonable period for compliance. 5 10 15 20 25 30 35 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 201 199 (6) Melawana e e farologaneng ya Khansele ya Ombud e ka direlwa, kgotsa mabapi le— (a) ditlhopha tse di farologaneng tsa dikema tsa ombuds le ombud; le (b) mabaka a a farologaneng. (7) (a) Khansele ya Ombud e ka, ka kopo go tswa kwa sekemeng sa ombud, golola sekema seo sa ombud go tswa mo molawaneng wa Khansele ya Ombud sebaka sa nako e e tsepamisitsweng, fa fela Khansele ya Ombud e kgotsofetse gore tlamorago e e ikaeletsweng ya molawana e santse e tla ﬁtlhelelwa. (b) Kgololo nngwe le nngwe eo e ka dirwa go ya ka mabaka a a beilweng ke Khansele ya Ombud. (8) Molawana wa Khansele ya Ombud o ka tlhabolola kgotsa phimola molawana o mongwe wa Khansele ya Ombud. Ditaelo tsa Khansele ya Ombud 202. (1) Khansele ya Ombud e ka rebolela motho yo e leng ombud, kgotsa go sekema sa ombud, taelo e e kwetsweng e e lopang motho go tsaya kgato e e tsepamisitsweng mo taelong fa motho a tlotse kgotsa go na le kgonego ya go tlola molao wa lephata la ditsˇhelete jaaka o amana le dikema tsa ombud. (2) Taelo e e rebotsweng go ya ka karolotlaleletso (1) e tshwanetse go nna ya go ﬁtlhelela maikaelelo a Khansele ya Ombud a a tlhalositsweng mo karolong 176 le go thibela ombud kgotsa sekema sa ombud mo go tloleng melao ya lephata la ditsˇhelete e e diriswang jaaka e amana le dikema tsa ombud, kgotsa go fokotsa dikotsi tsa ditlolo tseo. (3) Khansele ya Ombud e ka se rebole taelo e e tlhokang motho yo o tsepamisitsweng go tloswa mo maemong kgotsa mo tirong mabapi le sekema sa ombud ntle le fa motho— (a) a tlotse kabelo ya molao wa lephata la ditsˇhelete kgotsa molawana wa Khansele ya Ombud; 5 10 15 20 25 (b) e le motho yo o ileditsweng; kgotsa (c) a sa tlhole a ikamanya le nngwe le nngwe ya ditlhokego tsa motho yo oi matshwanedi e bile a nepagetse. (4) Pele ga thebolo ya taelo go ya ka karolo eno, Khansele ya Ombud e tshwanetse 30 go— (a) naya motho yo e mo tshitsintseng go mo rebolela taelo thalo ya taelo le polelo ya mabaka a gore goreng Khansele ya Ombud e tshitsinya go e rebola, go akaretsa le polelo ya dintlha tse di maleba le mabaka; le laletsa batho gore ba dire ditlhagiso ka ga morero, le go e naya nako e e tsepamisitsweng, e e tshwanetseng go nna e e lekaneng, go dira jalo. (5) Fa taelo e tlhoka gore motho a tloswe mo maemong a motho mabapi le sekema sa (b) ombud, Khansele ya Ombud e tshwanetse go— (a) naya motho thalo ya taelo e e tshitsintsweng le polelo ya mabaka a gore goreng Khansele ya Ombud e tshitsinya go e rebola, go akaretsa le polelo ya dintlha tse di maleba le mabaka; le laletsa motho go dira ditlhagiso ka ga morero mo nakong e e tsepamisitsweng go ya ka karolotlaleletso (4)(b). (b) (6) Mo go swetseng ka go rebola kgotsa go se rebole taelo, Khansele ya Ombud e tshwanetse go tsaya tsia ditlhagiso tsotlhe tse di amogetsweng kwa bokhutlong jwa nako e e kailweng mo karolotlaleletsong (4)(b). (7) Fa tiego e e amanang le go ikamanya, kgotsa go ikamanya ka botlalo, le dikarolotlaleletso (4) le (5) mabapi le taelo e e tshitsintsweng e ka tlisa kgobelelo mo barekeding ba ditsˇhelete kgotsa ya fenya maikaelelo a taelo, Khansele ya Ombud e ka rebola taelo ntle le go ikamanya, kgotsa go ikamanya ka botlalo, le dikarolotlaleletso tseo. (8) (a) Fa Khansele ya Ombud e rebola taelo ntle le go ikamanya, kgotsa go ikamanya le, mo le dikarolotlaleletso (4) le (5), motho yo o e reboletsweng, ka botlalo, karolotlaleletso (5) e diriswang, motho yo o kailweng mo karolotlaleletsong eo, o tshwanetse go newa polelo e e kwetsweng ya mabaka a gore goreng dikarolotlaleletso tseo di sa obamelwa. (b) Motho yo o neetsweng polelo go latela temana (a) o ka dira ditlhagiso go Khansele ya Ombud mo kgweding e le esi morago ga go tlamelwa ka polelo. (c) Khansele ya Ombud e tshwanetse go tsaya tsia ditlhagiso, le go itsise motho, ka bonako jo bo kgonagalang, fa e le gore Khansele ya Ombud e tshitsinya go phimola taelo. (9) Taelo go ya ka karolo eno e tshwanetse go totobatsa nako e e lekaneng ya go 35 40 45 50 55 60 ikamanya. This gazette is also available free online at www.gpwonline.co.za
202
No. 41060
Verify source ↗

AI-assisted research summary: The Ombud Council can revoke directives, accept written undertakings, start High Court proceedings for compliance, and make debarment orders against natural persons; people subject to a debarment order must not breach it.

202 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 200 (10) The Ombud Council may at any time revoke a directive in terms of this section by written notice to the person to whom it was issued. (11) A person to whom a directive in terms of this section has been issued must comply with the directive. Enforceable undertakings 5 203. (1) An ombud scheme may give the Ombud Council, and the Ombud Council may accept, a written undertaking concerning the ombud scheme’s future conduct in relation to a ﬁnancial sector law in so far as it relates to ombud schemes. (2) Section 151 applies, with necessary changes required by the context, in relation to an undertaking contemplated in subsection (1), as if the references in that section to ‘‘responsible authority’’ were references to the Ombud Council. 10 Compliance with ﬁnancial sector laws 204. (1) The Ombud Council may commence proceedings against an ombud scheme in the High Court for an order to ensure compliance with the ﬁnancial sector law in so far as it relates to ombud schemes. 15 (2) Section 152 applies, with necessary changes required by the context, in relation to the proceeding, as if the references in that section ‘‘responsible authority’’ were references to the Ombud Council. Debarment 205. (1) The Ombud Council may make a debarment order in respect of a natural 20 person if the person has— (a) contravened a ﬁnancial sector law in so far as it relates to ombud schemes, or an Ombud Council rule; (b) attempted, or conspired with, aided, abetted, induced, incited or procured another person to contravene a ﬁnancial sector law in so far as it relates to ombud schemes. (2) A debarment order prohibits the person, for a speciﬁed period, as speciﬁed in the order, from performing a speciﬁed role in relation to an ombud scheme. (3) Before making a debarment order in respect of a person, the Ombud Council must— (a) give a draft of the order to the person and to the ﬁnancial sector regulators, along with reasons for and other relevant information about, the proposed debarment; and invite the person to make submissions on the matter, and give the person a reasonable period to do so. (b) (4) The period in terms of subsection (3)(b) must be at least one month. (5) In deciding whether or not to make a debarment order in respect of a person, the Ombud Council must take into account at least— (a) any submission made by, or made for, the person; and (b) any advice from a ﬁnancial sector regulator. (6) A debarment order takes effect from— (a) (b) the date on which it is served on the person; or if the order speciﬁes a later date, the later date. (7) A copy of a debarment order in respect of a person must also be given to each ombud scheme. (8) (a) A person who is subject to a debarment order may not engage in conduct that directly, or indirectly, contravenes the order. (b) Without limiting paragraph (a), a person contravenes that paragraph if the person enters into an arrangement with another person to engage in the conduct for or on behalf of, or in accordance with the directions, instructions or wishes of, the person. (9) An ombud scheme that becomes aware that a debarment order has been made in respect of a person employed or engaged by the ombud scheme must take all reasonable steps to ensure that the order is given effect to. 25 30 35 40 45 50 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 203 201 (10) Khansele ya Ombud ka nako nngwe le nngwe e ka phimola taelo go ya ka karolo eno ka kitsiso e e kwetsweng go motho yo o e reboletsweng. (11) Motho yo o reboletsweng taelo go ya ka karolo eno o tshwanetse go ikamanya le taelo. Ditumalano tse di gatelelwang 203. (1) Motho o ka naya Khansele ya Ombud, le Khansele ya Ombud e ka amogela, tumalano e e kwetsweng e e mabapi le boitshwaro jwa nako e e tlang mabapi le molao wa lephata la ditsˇhelete jaaka ga e amana le dikema tsa ombud. (2) Karolo 151 e a diriswa, ka diphetogo tse di tlhokegang go ya ka maemo, mabapi le tumalano e e tlhalositsweng mo karolotlaleletsong (1), jaaka e kete dikaelo mo karolong eo go ‘‘bothati jo bo rwalang maikarabelo’’ e ne e le dikaelo go Khansele ya Ombud. Boikamanyo le melao ya lephata la ditsˇhelete 204. (1) Khansele ya Ombud e ka simolola ditsamaiso kgatlhanong le sekema sa ombud kwa Kgotlatshekelongkgolo mabapi letaelo go netefatsa go ikamanya le molao wa lephata la ditsˇhelete ga jaaka o amana le dikema tsa ombud. (2) Karolo 152 e diriswa, le diphetogo tse di botlhokwa go ya ka maemo, mabapi le tsamaiso, jaaka e kete ditshupetso mo karolong eo ‘‘bothati jo bo rwalang maikarabelo’’ e ne e le dikaelo go Khansele ya Ombud. Kganelo 205. (1) Khansele ya Ombud e ka dira taelo ya kganelo mabapi le motho ka esi fa motho ka esi a— (a) (b) tlotse molao wa lephata la ditsˇhelete kgotsa boemo jaaka ga bo amana le dikema tsa ombud, kgotsa molawana wa Khansele ya Ombud; lekile, kgotsa logile maano a bosenyi le, thusitse, rotloeditse, potlakisitse, tlhotlheleditse kgotsa ﬁtlheletse motho yo mongwe go tlola molao wa lephata la ditsˇhelete jaaka ga o amana le dikema tsa ombud. (2) Taelo ya kganelo e thibela motho ka esi, mo nakong e e tsepamisitsweng, jaaka go tlhalositswe mo taelong, mo go direng tiro e e rileng e e amanang le sekema sa ombud. (3) Pele go dirwa taelo ya kganelo mabapi le motho ka esi, Khansele ya Ombud e tshwanetse— (a) naya motho ka esi le bolaodi jwa lephata la ditsˇhelete thalo ya taelo, mmogo le mabaka a le tshedimosetso e nngwe e e maleba ka ga, kganelo e e tshitsintsweng; le laletsa motho go dira ditlhagiso ka ga morero, le go naya motho nako e e lekaneng go dira jalo. (b) (4) Nako go ya ka karolotlaleletso (3)(b) e tshwanetse go nna bonnye kgwedi e le esi. (5) Mo go swetseng ka go dira kgotsa go se dire kganelo mabapi le motho, Khansele 5 10 15 20 25 30 35 ya Ombud e tshwanetse go ela tlhoko bonnye— tlhagiso nngwe le nngwe e e dirilweng ke, kgotsa e e diretsweng, motho; le (a) (b) kgakololo nngwe le nngwe go tswa go molaodi wa lephata la ditsˇhelete. 40 (6) Taelo ya kganelo e simolola go dira— (a) ka letlha le e neetsweng motho ka esi ka lona; kgotsa (b) fa taelo e tsepamisa letlha le le kwa moragonyana, moragonyana. letlha le le kwa (7) Kgatiso ya taelo ya kganelo mabapi le motho ka esi e tshwanetse go newa sekema sengwe le sengwe sa ombud. (8) (a) Motho ka esi yo o lebanweng ke taelo ya kganelo o ka se dire boitshwaro jo bo tlolang taelo ka tlhamalalo, kgotsa e seng ka tlhamalalo. (b) Ntle le tekanyetso ya temana (a), motho ka esi o tlola temana eo fa motho ka esi a tsena mo thulaganyong le motho yo mongwe go dira boitshwaro jwa, kgotsa mo boemong jwa, kgotsa go tsamaelana le dikaelo, ditaelo kgotsa dikeletso tsa, motho ka esi. (9) Setheo sa ditsˇhelete se se abetsweng laesense se se lemogang gore taelo ya kganelo e dirilwe mabapi le motho ka esi yo o thapilweng kgotsa yo o dirisanang le setheo sa ditsˇhelete se tshwanetse go tsaya dikgato tsotlhe tse di maleba go netefatsa gore taelo e a diragatswa. 45 50 55 This gazette is also available free online at www.gpwonline.co.za
204
No. 41060
Verify source ↗

AI-assisted research summary: The Ombud Council must set up customer access centres, may require ombud schemes or ombuds to provide and verify information, and must comply with notice requirements.

204 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Administrative penalties 202 206. (1) Chapter 13 applies in relation to the Ombud Council as if references in that Chapter— (a) (b) to a ﬁnancial sector law were references to a ﬁnancial sector law in so far as it relates to ombud schemes; and to a ﬁnancial sector regulator were references to the Ombud Council. (2) Despite subsection (1), the Ombud Council may impose an administrative penalty only on an ombud scheme, a member of the governing body of an ombud scheme, or an ombud. Requests for information 207. (1) (a) The Ombud Council may, by written notice, require an ombud scheme or an ombud to provide speciﬁed information or a speciﬁed document in the possession or under the control of the person to whom the notice is given, being information or a document which is relevant to the Ombud Council’s assessment of compliance by an ombud scheme or an ombud with— a ﬁnancial sector law in so far as it relates to ombuds; an Ombud Council rule; a directive issued by the Ombud Council in terms of section 202; or an enforceable undertaking accepted by the Ombud Council. (i) (ii) (iii) (iv) (b) The Ombud Council may require the information or document to be veriﬁed as speciﬁed in the notice, including by an auditor approved by the Ombud Council. (2) A person that has been given a notice in terms of subsection (1) must comply with the requirements in the notice. Supervisory on-site inspections and investigations 5 10 15 20 208. (1) Part 3 of Chapter 9 applies in relation to the Ombud Council as if— 25 (a) (b) (c) references in that Chapter to a ﬁnancial sector law were references to a ﬁnancial sector law in so far as it relates to ombud schemes; references to a ﬁnancial sector regulator were references to the Ombud Council; and references to a supervised entity were references to an ombud scheme or an ombud. (2) Despite section 132(2), the purpose of a supervisory on-site inspection of an ombud scheme or an ombud in terms of this section is to check compliance by the ombud scheme or ombud with a ﬁnancial sector law in so far as it relates to ombuds. (3) Part 4 of Chapter 9 applies in relation to the Ombud Council as if— (a) (b) (c) references in that Chapter to a ﬁnancial sector law were references to a ﬁnancial sector law in so far as it relates to ombud schemes; section 135(1)(b) were omitted; and references to a ﬁnancial sector regulator were references to the Ombud Council. (4) Section 140 applies in relation to the Ombud Council exercising powers in terms of this section as it applies in relation to the ﬁnancial sector regulators. Part 4 General provisions Access to ombud schemes 209. (1) The Ombud Council must, as soon as practicable after this Part comes into effect, establish and operate one or more centres to facilitate ﬁnancial customers’ access to appropriate ombuds. (2) A centre may incorporate a call centre. (3) The purpose of a centre is to provide a place, and staff and facilities, to assist ﬁnancial customers to formulate complaints and to identify for them the ombud appropriate to deal with their complaints. 30 35 40 45 50 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 205 Dikotlhao tsa tsamaiso 203 206. (1) Kgaolo 13 e diriswa mabapi le Khansele ya Ombud jaaka e kete dikaelo mo Kgaolong eo— (a) go molao wa lephata la ditsˇhelete e ne e le dikaelo go molao wa lephata la ditsˇhelete jaaka ga di amana le dikema tsa ombud; le (b) go molaodi wa lephata la ditsˇhelete e ne e le dikaelo go Khansele ya Ombud. (2) Go sa nyatswe karolotlaleletso (1), Khansele ya Ombud e ka pateletsa kotlhao ya tsamaiso mo sekemeng sa ombud, leloko la mokgatlho o o busang wa sekema sa ombud kgotsa ombud. Dikopo tsa tshedimosetso 207. (1) (a) Khansele ya Ombud, ka kitsiso e e kwetsweng, e ka lopa sekema sa ombud kgotsa ombud go tlamela ka tshedimosetso e e tsepamisitsweng kgotsa lokwalo le le tsepamisitsweng le le mo taolong ya motho yo o neilweng kitsiso, e ka nna tshedimosetso kgotsa lokwalo le le malebana le tshekatsheko ya boikamanyo ya Khansele ya Ombud ka sekema sa ombud kgotsa ombud le— taelo e e rebotsweng ke Khansele ya Ombud go ya ka karolo 202; kgotsa tumalano e e gatelelwang e e amogetsweng ke Khansele ya Ombud. (i) molao wa lephata la ditsˇhelete jaaka ga o amana le ombuds; (ii) molawana wa Khansele ya Ombud; (iii) (iv) (b) Khansele ya Ombud e ka kopa tshedimosetso kgotsa lokwalo go netefatswa jaaka go kailwe mo kitsisong, go akaretsa le ke moruni yo o rebotsweng ke Khansele ya Ombud. (2) Motho yo o neilweng kitsiso go ya ka karolotlaleletso (1) o tshwanetse go ikamanya le ditlhokego tse di mo kitsisong. Ditlhatlhobo tsa botlhokomedi tsa kwa tirong le dipatlisiso 208. (1) Karolo 3 ya Kgaolo 9 e diriswa mabapi le Khansele ya Ombud jaaka e kete— (a) dikaelo mo Kgaolong eo go molao wa lephata la ditsˇhelete e ne e le dikaelo go molao wa lephata la ditsˇhelete jaaka fa di amana le dikema tsa ombuds; (b) dikaelo go molaodi wa lephata la ditsˇhelete e ne e le dikaelo go Khansele ya Ombud; le (c) dikaelo go setheo se se tlhokometsweng e ne e le dikaelo go sekema sa ombud kgotsa, ombud. (2) Go sa nyatswe karolo 132(2), maitlhomo a ditlhatlhobo tsa botlhokomedi tsa kwa tirong le sekema sa ombud kgotsa ombud go ya ka karolo eno ke go tlhatlhoba gore sekema sa ombud kgotsa, ombud, se ikamanya le molao wa lephata la ditsˇhelete jaaka ga o amana le ombuds. (3) Karolo 4 ya Kgaolo 9 e diriswa mabapi le Khansele ya Ombud jaaka e kete— 5 10 15 20 25 30 35 (a) dikaelo mo Kgaolong eo go molao wa lephata la ditsˇhelete e ne e le dikaelo go molao wa lephata la ditsˇhelete jaaka fa di amana le dikema tsa ombud; (b) karolo 135(1)(b) e ne e tlogetswe; le (c) dikaelo go molaodi wa lephata la ditsˇhelete e ne e le dikaelo go Khansele ya 40 Ombud. (4) Karolo 140 e diriswa mabapi le Khansele ya Ombud e e diragatsang dithata go ya ka karolo eno jaaka ga e diriswa mabapi le balaodi ba lephata la ditsˇhelete. Karolo 4 Dikabelo ka kakaretso Phitlhelelo go dikema tsa ombud 209. (1) Khansele ya Ombud e tshwanetse, ka bonako jo bo kgonagalang morago ga go tsenngwa tirisong ga Karolo eno, tlhoma le go dirisa senthara e le esi kgotsa go feta go nolofatsa phitlhelelo go ombuds e e maleba ya barekedi ba ditsˇhelete. (2) Senthara e ka tsenyeletsa senthara ya go letsa. (3) Maitlhomo a senthara ke go tlamela ka lefelo, badiri le didiriso, go thusa barekedi ba ditsˇhelete go tlhama dingongorego le go di supela ombud yo o maleba go samagana le dingongorego tsa bona. 45 50 This gazette is also available free online at www.gpwonline.co.za
228
An obligation in a ﬁnancial sector law to notify a person of a decision taken in
Verify source ↗

AI-assisted research summary: A person notified of a decision may request reasons within 30 days, and the decision-maker must give those reasons within one month, including the material facts. The notice of a decision must also tell the person about the right to request reasons and to seek reconsideration.

228. An obligation in a ﬁnancial sector law to notify a person of a decision taken in relation to that person must be read as including an obligation to notify the person of that person’s right— 40 (a) (b) to request reasons for the decision in terms of section 229; and to have the decision reconsidered in terms of Part 4. Right to reasons for decisions 45 229. (1) A person who has not already been given the reasons for the decision may, within 30 days after the person was notiﬁed of the decision, request a statement of the reasons for the decision from the decision-maker. (2) The decision-maker must, within one month after receiving a request in terms of subsection (1), give the person a statement of the reasons for the decision, which must include a statement of the material facts on which the decision was based. 50 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 219 217 (6) Tona— (a) o tshwanetse go tlosa motho mo lenaneng la panele— (i) (ii) fa motho a kopa jalo; kgotsa fa motho a nna motho yo o ileditsweng; le (b) o ka, ka tshitsinyo ya Modulasetilo, tlosa motho mo lenaneng la panele fa 5 motho— (i) a sa kgone go dira jaaka leloko la panele ka ntlha ya mabaka a boitekanelo kgotsa a mangwe; (ii) a paletswe ka gotlhe go diragatsa nngwe le nngwe ya maikarabelo a leloko la panele; kgotsa (iii) a dirile ka mokgwa o o satsamaelaneng le go dira jaaka leloko la panele. Tshenolo ya dikgatlhego 226. (1) (a) Fa pele kgotsa ka nako ya ditsamaiso tse mo go tsona leloko la panele le tsayang karolo, go lebega e kete leloko la panele , kgotsa motho yo o amanang le leloko la panele, a na le kgatlhego mo tshwetsong e panele e e tlhametsweng go e sekaseka gape, leloko la panele le tshwanetse go— senolela maloko a mangwe a panele kgatlhego eo ka bonako le ka botlalo; le ikgogela morago mo go nneng karolo ya theetso. (i) (ii) (b) Tshenolo go ya ka temana (a) ka Modulasetilo e tshwanetse, ka tlaleletso, go dirwa go Tona. (c) Tshenolo go ya ka temana (a) ka leloko le lengwe la panele e tshwanetse, ka tlaleletso, go dirwa go Modulasetilo. (2) Mabapi le maitlhomo a karolo eno, ga go kgathalesege— (a) gore kgatlhegelo e tlhamaletse, ga e a tlhamalala, ke ya tsˇhelete kgotsa ga se ya tsˇhelete; kgotsa (b) gore kgatlhego e ﬁtlheletswe leng. (3) Mo karolong eno‘‘kgatlhegelo’’ ga e akaretse kgatlhegelo e e seng ya boleng. (4) Modulasetilo o tshwanetse go tshola rejisetara ya ditshenolo tsotlhe tse di dirilweng go ya ka karolo eno, le go tshola thulaganyo ya ditshenolo tsa kgatlhego ka maloko a Lekgotla ngwaga le ngwaga. Melawana ya Lekgotla 227. (1) Modulasetilo o ka dira melawana, e e tsamaelanang le Molao ono, mabapi le tsamaiso e e tshwanetseng go latelwa mabapi le ditsamaiso tsa dikopo tsa tshekatshekogape ya tshwetso go ya ka Kgaolo eno, le maitsholo a ditsamaiso tseo, e bile e ka tlhabolola kgotsa phimola melao eo nako nngwe le nngwe. (2) Melawana ya Lekgotla, le ditlhabololo le diphimolo tsa Melawana ya Lekgotla, di tshwanetse go phasalatswa. Karolo 3 Tshwanelo ya mabaka a ditshwetso Tshwanelo ya ya mabaka a dishwetso itsisiwe
228
Tlamego mo molaong wa lephata la ditsˇhelete ya go itsise motho ka ga tshwetso
Verify source ↗

AI-assisted research summary: A decision notice must be treated as including the person’s right to ask for reasons and to seek reconsideration; a person may request reasons within 30 days, and the decision-maker must give a statement of reasons within one month of the request.

228. Tlamego mo molaong wa lephata la ditsˇhelete ya go itsise motho ka ga tshwetso e e tserweng mabapi le motho yoo e tshwanetse go tseelwa gore e akaretsa tlamego ya go itsise motho ka ga tshwanelo ya motho yoo— (a) ya go lopa mabaka a tshwetso go ya ka karolo 229; le (b) ya go dira kopo ya gore tshwetso e sekasekwe gape go ya ka Karolo 4. Tshwanelo ya mabaka a ditshwetso 229. (1) Motho yo o iseng a newe mabaka a tshwetso o ka, mo matsatsing a le 30 morago ga fa motho a sena go itsisiwe ka ga tshwetso, lopa polelo ya mabaka mabapi le tshwetso go tswa gomotho yo o dirileng tshwetso. (2) Motho yo o dirileng tshwetso o tshwanetse, mo kgweding e le esi morago ga go amogela kopo e e kailweng mo karolotlaleletsong (1), naya motho polelo ya mabaka a tshwetso, e e tshwanetseng go akaretsa polelo ya dintlha tsa botlhokwa tse tshwetso e ikaegileng ka tsona. 10 15 20 25 30 35 40 45 50 This gazette is also available free online at www.gpwonline.co.za
220
No. 41060
Verify source ↗

AI-assisted research summary: A person aggrieved by a decision may ask the Tribunal to reconsider it, and the application must be filed within 30 or 60 days depending on whether reasons were requested.

220 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 218 Part 4 Reconsideration of decisions Applications for reconsideration of decisions 230. (1) (a) A person aggrieved by a decision may apply to the Tribunal for a reconsideration of the decision by the Tribunal in accordance with this Part. (b) A reconsideration of a decision in terms of this Part constitutes an internal remedy as contemplated in section 7(2) of the Promotion of Administrative Justice Act. (2) The application must be made— (a) (b) if the applicant requested reasons in terms of section 229, within 30 days after the statement of reasons was given to the person; or in all other cases, within 60 days after the applicant was notiﬁed of the decision, or such longer period as may on good cause be allowed. (3) An application in terms of subsection (1) must be made in accordance with the Tribunal rules. Decision of Tribunal not suspended
265
A person who contravenes sections 46(1) or (2), 52, 69(1) or (2) or 74 commits
Verify source ↗

AI-assisted research summary: A person who contravenes specified sections commits an offence and may be fined up to R5 000 000, imprisoned for up to five years, or both.

265. A person who contravenes sections 46(1) or (2), 52, 69(1) or (2) or 74 commits an offence and is liable on conviction to a ﬁne not exceeding R5 000 000 or imprisonment for a period not exceeding ﬁve years, or to both a ﬁne and such imprisonment. 40 45 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 243 241 (3) (a) Mo ditsamaisong dingwe le dingwe, bosupi ga bo tlhokege ka ga dikabelo le go tsenngwa mo tirisong go diragatsa, ka gotlhe kgotsa ka karolo, ga molao kgotsa sediriso sa bolaodi jaaka se tlhagelela mo Rejisetareng. (b) Kgotlatshekelo kgotsa lekgotla le ka ikitsise ka ga merero eo le ka mokgwa o le boneng go le matshwanedi. (4) Go bonagala e kete, ntle le fa go ka nna le kganetso— (a) (b) lokwalo le le ikayang e le sentshwa Rejisetareng ke seo le ikayang go nna sona; le sediriso sa bolaodi seo kgatiso ya sona e tlhagisitsweng go tswa mo Rejisetareng se kwadisitswe ka letsatsi le nako e e kailweng mo kgatisong. 5 10 Dintshwa Rejisetareng mabapi le maemo a laesense
262
Sentshwa Rejisetareng,
Verify source ↗

AI-assisted research summary: The Registrar may correct register errors, must record how and when a correction was made and why, and may delegate certain Register-related powers or functions in writing.

262. Sentshwa Rejisetareng, ke, Mokaedikakaretso, se se bontshang gore, ka letlha le le rileng, morago ga go tsenngwa tirisong ga Karolo eno— tlhomamisitsweng sebopego ka se se (a) motho o abetswe kgotsa o ne a sa abelwa laesense ka fa tlase ga molao wa 15 (b) (c) (d) lephata la ditsˇhelete; laesense e e tsepamisitsweng e kgotsa e ne e se go ya ka mabaka a a tsepamisitsweng; laesense e e tsepamisitsweng e ne e, ka nako e e rileng, sekegilwe, phimotswe kgotsa gogetswe morago; kgotsa setheo sa ditsˇhelete se se tsepamisitsweng se ne ka nako e e rileng e le setheo sa ditsˇhelete sa thulaganyo ya botlhokwa, se amogelesega jaaka bosupi jwa dintlha le merero e e kailweng mo go sona e bile ntle le fa go na le kganetso, se a konotelela. Paakanyo ya Rejisetara 20 25 263. (1) Mokaedikakaretso o ka rulaganya gore Rejisetara e siamisiwe go baakanya diphoso. (2) Fa Rejisetara e siamisitswe, Mokaedikakaretso o tshwanetse go tsenya tshwaelo ya direkoto tse di maleba mo Rejisetareng go tlhalosa mokgwa wa tshiamiso le go tsepamisa letlha le nako e tshiamiso e dirilweng ka yona le lebaka la tshiamiso. 30 Ditholelo ka Mokaedikakaretso 264. (1) Mokaedikakaretso o ka, ka go kwala, rolela thata nngwe le nngwe kgotsa tiro ya Mokaedikakaretso mabapi le Rejisetara, ntle le thata ya go romela, go leloko la badirimmogo ba Matlole a Bosetsˇhaba kgotsa motho mongwe le mongwe yo o maleba, e bile Mokaedikakaretso o ka, ka nako nngwe le nngwe, tlhabolola kgotsa gogela morago tholelo. (2) Tholelo e ka nna go motho yo o rileng kgotsa go motho yo o tshwereng maemo a 35 a rileng. (3) Tholelo e go ya ka ditekanyetso le mabaka a a tlhalositsweng mo tholelong. (4) Tholelo ga e amoge Mokaedikakaretso maikarabelo mabapi le thata e e roletsweng 40 kgotsa tiro. (5) Sengwe le sengwe se se dirilweng ke morolelwa go tsamaelana le tholelo se tseelwa gore se dirilwe ke Mokaedikakaretso. Karolo 3 Melato le dikotlhao Ditiro tsa maloko le badiri ba mekgatlho e e rileng
265
Motho yo tlolang dikarolo 46(1) kgotsa (2), 52, 69(1) kgotsa (2) kgotsa 74 o tlola
Verify source ↗

AI-assisted research summary: A person who violates sections 46(1), 46(2), 52, 69(1), 69(2) or 74 commits an offence and, if convicted, may be fined up to R5 000 000, imprisoned for up to five years, or both.

265. Motho yo tlolang dikarolo 46(1) kgotsa (2), 52, 69(1) kgotsa (2) kgotsa 74 o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotllhao ya tuediso e e safeteng R5 000 000 kgotsa go tswalelwa kwa kgolegelong sebaka se sa feteng dingwaga tse tlhano, kgotsa go duediswa le go tshwarwa goo ka bobedi. 45 50 This gazette is also available free online at www.gpwonline.co.za
244
No. 41060
Verify source ↗

AI-assisted research summary: This section sets offences and penalties for breaching specified sections of the Act, including fines, imprisonment, and administrative penalties for licensees and supervised entities.

244 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Licensing 242 266. (1) A person who contravenes section 111(1), (2), (3), (4) or (5) commits an offence and is liable on conviction to a ﬁne not exceeding R15 000 000 or imprisonment for a period not exceeding 10 years, or to both a ﬁne and such imprisonment. (2) A licensee who contravenes section 117 is liable to an administrative penalty not 5 exceeding R5 000 for each day during which the offence continues. (3) A licensee who contravenes section 127 is liable to an administrative penalty not exceeding R50 000. Requests for information, supervisory on-site inspections and investigations 267. (1) A supervised entity that contravenes section 131(1)(b) commits an offence and is liable on conviction to a ﬁne not exceeding R1 000 for each day during which the offence continues. (2) A supervised entity that or person who contravenes section 132(4)(a)(iii) commits an offence and is liable on conviction to a ﬁne not exceeding R5 000 000. (3) If— (a) a ﬁnancial sector regulator gives a supervised entity a directive in terms of section 132(4)(a)(iii); and (b) without reasonable excuse, a business document to which the directive relates is removed from the premises, or concealed, destroyed or otherwise interfered with, contrary to the directive, the supervised entity or person on whom the directive was served commits an offence and is liable on conviction to a ﬁne not exceeding R2 500 000. (4) A person who contravenes section 133 commits an offence and is liable on conviction to a ﬁne not exceeding R1 000 000 or imprisonment for a period not exceeding 12 months, or to both a ﬁne and such imprisonment. (5) A person who contravenes section 139 commits an offence and is liable on conviction to a ﬁne not exceeding R5 000 000 or imprisonment for a period not exceeding two years, or to both a ﬁne and such imprisonment. Enforcement 268 (1) A person that contravenes section 149(1) commits an offence and is liable on conviction to a ﬁne not exceeding R15 000 000 or imprisonment for a period not exceeding 10 years, or to both a ﬁne and such imprisonment. (2) A person who contravenes section 153(4)(a) commits an offence and is liable on conviction to a ﬁne not exceeding R15 000 000 or imprisonment for a period not exceeding 10 years, or to both a ﬁne and such imprisonment. (3) If— (a) a person who is subject to a debarment order contravenes section 153(4)(a) by (b) entering into an arrangement referred to in section 153(4)(b); and the other party to the arrangement knew or should reasonably have known that entering into the arrangement contravened that section, the other party to the arrangement also commits an offence and is liable on conviction to a ﬁne not exceeding R15 000 000 or imprisonment for a period not exceeding 10 years, or to both a ﬁne and such imprisonment. (4) A person who contravenes section 153(5) commits an offence and is liable on conviction to a ﬁne not exceeding R5 000 000. 10 15 20 25 30 35 40 45 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 245 Kabo ya dilaesense 243 266. (1) Motho yo o tlolang karolo 111(1), (2), (3), (4) kgotsa (5) o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuediso e e sa feteng R15 000 000 kgotsa go tswalelwa kwa kgolegelong sebaka se sa feteng dingwaga tse 10, kgotsa go duediswa le go tshwarwa goo ka bobedi. (2) Moabelwalaesense yo o tlolang karolo 117 o tlola molao e bile fa a bonwe molato 5 o tshwanetswe ke kotlhao ya tuediso e e sa feteng R5 000. (3) Moabelwalaesense yo o tlolang karolo 127 o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuediso e e sa feteng R50 000. Dikopo tsa tshedimosetso, tlhatlhobo ya botlhokomedi kwa tirong le dipatlisiso 10 267. (1) Setheo se se tlhokometsweng se se tlolang karolo 131(1)(b) se tlola molao e bile fa se bonwe molato se tshwanetswe ke kotlhao ya tuediso e e sa feteng R1 000 mabapi le letsatsi lengwe le lengwe leo tlolomolao e tswelelang ka lona. (2) Setheo se se tlhokometsweng se se kgotsa motho yo o tlolang dikarolo 132(4)(a)(iii) o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuediso e e safeteng R5 000 000. (3) Fa— (a) bolaodi jwa lephata bo naya setheo se se tlhokometsweng taelo go ya ka karolo 132(4)(a)(iii); le (b) ntle le lebaka le le utlwalang, lokwalo la kgwebo le taelo e amanang nalo le tloswa mo lefelong, kgotsa le ﬁtlhiwa, kgotsa le senngwa kgotsa ka mokgwa mongwe le kgoreletswa, ka pharologano go taelo, setheo se se tlhokometsweng kgotsa motho yo o neilweng taelo o tlola molao e bile o tshwanetse ka go bonwa molato ke kotlhao ya tuediso e e sa feteng R2 500 000. (4) Motho yo o tlolang karolo 133 o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuediso e e safeteng R1 000 000 kgotsa go tlhatlhelwa kwa kgolegelong sebaka se se sa feteng dikgwedi tse 12, kgotsa ka bobedi tuediso kgotsa tswalelo kwa kgolegelong. (5) Motho yo o tlolang karolo 139 o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuediso e e safeteng R5 000 000 kgotsa go tlhatlhelwa kwa kgolegelong sebaka se se sa feteng dingwaga tse pedi, kgotsa ka bobedi tuediso kgotsa tswalelo kwa kgolegelong. Kgatelelo 268. (1) Motho yo o tlolang karolo 149(1) o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuediso e e safeteng R15 000 000 kgotsa go tswalelwa kwa kgolegelong sebaka se sa feteng dingwaga tse 10, kgotsa go duediswa le go tshwarwa goo ka bobedi. (2) Motho yo o tlolang karolotlaleletso 153(4)(a) o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuediso e e safeteng R15 000 000 kgotsa go tswalelwa kwa kgolegelong sebaka se sa feteng dingwaga tse 10, kgotsa go duediswa le go tshwarwa goo ka bobedi. (3) Fa— (a) motho yo o lebanweng ke taelo ya kganelo a tlola karolotlaleletso 153(4)(a) ka go tsena mo thulaganyong e e kailweng mo karolong 153(4)(b); le (b) moamegi yo mongwe mo tumalanong a ne a itse kgotsa a ka tswa a ne a itse sentle gore go tsena mo tumalanong ke tlolo ya karolo eo, moamegi yo mongwe mo tumalanong le ena o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuediso e e safeteng R15 000 000 kgotsa go tswalelwa kwa kgolegelong sebaka se sa feteng dingwaga tse 10, kgotsa go duediswa le go tshwarwa goo ka bobedi. (4) Motho yo o tlolang karolotlaleletso 153(5) o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuediso e e sa feteng R5 000 000. 15 20 25 30 35 40 45 50 This gazette is also available free online at www.gpwonline.co.za
246
No. 41060
Verify source ↗

AI-assisted research summary: This section is labeled “Administrative penalties” in the Financial Sector Regulation Act, 2017.

246 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Administrative penalties 244
269
A person who contravenes section 174 by giving an undertaking commits an
Verify source ↗

AI-assisted research summary: This section makes several contraventions offences and sets fines, and in one case imprisonment, including daily fines for a continuing offence.

269. A person who contravenes section 174 by giving an undertaking commits an offence and is liable on conviction to a ﬁne not exceeding twice the maximum amount that would have been payable under the undertaking. Ombud schemes 5 270. (1) A person who contravenes section 189(1) or (2) or section 192 commits an offence and is liable on conviction to a ﬁne not exceeding R5 000 000. (2) A person who contravenes section 202(11) commits an offence and is liable on conviction to a ﬁne not exceeding R5 000 000. (3) A natural person who contravenes section 205(8) commits an offence and is liable 10 on conviction to a ﬁne not exceeding R5 000 000. (4) If— (a) a natural person who is subject to a debarment order in terms of section 205, contravenes section 205(8)(a) by entering into an arrangement referred to in section 205(8)(b); and the other party to the arrangement knew or should reasonably have known that entering into the arrangement contravened that section; (b) the other party to the arrangement also commits an offence and is liable on conviction to a ﬁne not exceeding R5 000 000. (5) A person who contravenes section 207(2) commits an offence and is liable on conviction to a ﬁne not exceeding R15 000 000 or imprisonment for a period not exceeding 10 years, or to both a ﬁne and such imprisonment. (6) A licensed ﬁnancial institution that contravenes section 210 commits an offence and is liable on conviction to a ﬁne not exceeding R5 000 000. 15 20 (7) A ﬁnancial institution that contravenes section 215(1) commits an offence and is 25 liable on conviction to a ﬁne not exceeding R5 000 000. (8) A person who contravenes section 217 commits an offence and is liable on conviction to a ﬁne not exceeding R5 000 for each day during which the offence continues. Proceedings in Tribunal
271
A person who contravenes a direction in terms of section 232(5)(a), or refuses,
Verify source ↗

AI-assisted research summary: A person who disobeys a direction or refuses, without reasonable excuse, to take an oath or affirmation when required commits an offence and may be fined up to R5 000 000, imprisoned for up to five years, or both.

271. A person who contravenes a direction in terms of section 232(5)(a), or refuses, without reasonable excuse, to take an oath or make an affirmation when required to do so as contemplated in section 232(5)(b), commits an offence and is liable on conviction to a ﬁne not exceeding R5 000 000 or to imprisonment for a period not exceeding ﬁve years, or to both a ﬁne and such imprisonment. Miscellaneous 272. (1) (a) A ﬁnancial sector regulator or the Reserve Bank commits an offence if information is disclosed or shared for a purpose that is not authorised in terms of section 251(1) or (2), or in a manner that is not authorised as referred to in section 251(5). (b) Both an official or employee who shares or discloses information, and the ﬁnancial sector regulator or the Reserve Bank on whose behalf the information is shared or disclosed, commit an offence if an official or employee— (i) who is not authorised to share or disclose information shares or discloses information in contravention of section 251(6)(c); (ii) who is authorised to share or disclose information shares or discloses information for a purpose that is not authorised in terms of section 251(1) or (2), or in a manner that contravenes section 251(3) or (4). (2) (a) If a ﬁnancial sector regulator or the Reserve Bank commits an offence referred to in subsection (1), it is liable on conviction to a ﬁne not exceeding R5 000 000. 30 35 40 45 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 247 Dikotlhao tsa tsamaiso 245
269
Motho yo o tlolang karolo 174 ka go dira kano o tlola molao e bile fa a bonwe
Verify source ↗

AI-assisted research summary: This section lists several offences and their penalties, including fines, imprisonment for one offence, and a daily fine for a continuing breach.

269. Motho yo o tlolang karolo 174 ka go dira kano o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuediso e e sa feteng tlhotlhwa ya makisimamo e e ka tswang e duelwa ka fa tlase ga kano. Dikema tsa ombud 5 270. (1) Motho yo o tlolang karolo 189(1) kgotsa (2) kgotsa karolo 192 o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuelo e e sa feteng R5 000 000. (2) Motho yo o tlolang karolo 202(11) o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuelo e e sa feteng R5 000 000. (3) Motho ka esi yo o tlolang karolo 205(8) o tlola molao e bile fa a bonwe molato o 10 tshwanetswe ke kotlhao ya tuelo e e sa feteng R5 000 000. (4) Fa— (a) motho ka esi yo o lebanweng ke taelo ya kganelo go ya ka karolo 205 a tlola karolotlaleletso 205(8)(a) ka go dira thulaganyo e e kailweng mo karolong 205(8)(b); le (b) moamegi yo mongwe mo tumalanong a ne a itse kgotsa a ka tswa a ne a itse sentle gore go tsena mo tumalanong ke tlolo ya karolo eo, mokgatlho o mongwe o o mothulaganyong le ona o tlola molao e bile fa o bonwe molato o tshwanetswe ke kotlhao ya tuediso e e sa feteng R5 000 000. (5) Motho yo o tlolang karolotlaleletso 207(2) o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuelo e e sa feteng R15 000 000 kgotsa go tswalelwa kwa kgolegelong sebaka se sa feteng dingwaga tse 10, kgotsa go duediswa le go tshwarwa goo ka bobedi. (6) Setheo sa ditsˇhelete se se abetsweng laesensese se tlolang karolotlaleletso 210 se tlola molao e bile fa se bonwe molato se tshwanetswe ke kotlhao ya tuediso e e safeteng R5 000 000. (7) Setheo sa disˇhelete se se tlolang karolo 215(1) se tlola molao e bile fa se bonwe molato se tshwanetswe ke kotlhao ya tuelo e e sa feteng R5 000 000. (8) Motho yo o tlolang karolotlaleletso 217 o tlola molao e bile fa o bonwe molato o tshwanetswe ke kotlhao ya tuediso e e safeteng R5 000 mabapi le letsatsi lengwe le lengwe leo ka lona molato o tswelelang. Ditsamaiso tsa Lekgotla
271
Motho yo o tlolang kaelo go ya ka karolo 232(5)(a), kgotsa yo o ganang, ntle le
Verify source ↗

AI-assisted research summary: A person who breaches the specified order or refuses, without reasonable cause, to take an oath or affirmation when required commits an offence and may be fined up to R5,000,000, jailed for up to 5 years, or both. The provision also makes certain disclosure or sharing of information by the financial authority, the Reserve Bank, and relevant officers/employees an offence, with a R5,000,000 fine for the authority’s offence.

271. Motho yo o tlolang kaelo go ya ka karolo 232(5)(a), kgotsa yo o ganang, ntle le lebaka le le utlwagalang, go tsaya kano kgotsa tlhomamiso fa a kopiwa go dira jalo jaaka go tlhalositswe mo karolong 232(5)(b), o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuelo e e safeteng R5 000 000 kgotsa go tswalelwa kwa kgolegelong sebaka se sa feteng dingwaga tse tlhano, kgotsa go duediswa le go tshwarwa goo ka bobedi. Tsele le tsele 272. (a) Bolaodi jwa lephata la ditsˇhelete kgotsa Banka ya Resefe e tlola molao fa tshedimosetso e senotswe kgotsa e aroganwe mabapi le maitlhomo a a sadumelelwang go ya ka karolo 251(1) kgotsa (2), kgotsa ka mokgwa o o sadumelelwang jaaka go kailwe mo karolong 251(5). (b) Ka bobedi motlhankedi kgotsa modiri yo o aroganang kgotsa yo o senolang tshedimosetso, le bolaodi jwa lephata la ditshelete kgotsa Banka ya Resefe e boemong jwa yona tshedimosetso e aroganweng kgotsa e senotsweng, ba tlola molao fa motlhankedi kgotsa modiri— (i) (ii) yo o sa dumelelwang go arogana kgotsa go senola tshedimosetso a arogana kgotsa a senola tshedimosetso ka tlolo ya karolo 251(6)(c); yo o dumeletsweng go arogana kgotsa go senola a arogana kgotsa senola tshedimosetso mabapi le maitlhomo a a sadumelelwang go ya ka karolo 251(1) kgotsa (2), kgotsa ka mokgwa o o tlolang karolo 251(3) kgotsa (4). (2) (a) Fa bolaodi jwa lephata la ditshelete kgotsa Banka ya Resefe bo tlola molao o o kailweng mo karolotlaleletsong (1), bo bonwe molato bo tshwanetswe ke kotlhao ya tuelo e e safeteng R5 000 000. 15 20 25 30 35 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za
248
No. 41060
Verify source ↗

AI-assisted research summary: This provision makes certain conduct an offence and sets fines and possible imprisonment for conviction.

248 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 246 (b) An official or employee who commits an offence referred to in subsection (1)(b) is liable on conviction to a ﬁne not exceeding R5 000 000, or imprisonment for a period not exceeding ﬁve years, or to both a ﬁne and such imprisonment. (3) An auditor who contravenes section 252 commits an offence and is liable on conviction to a ﬁne not exceeding R5 000 000. (4) A person who contravenes section 254 commits an offence and is liable on conviction to a ﬁne not exceeding R5 000 000 or imprisonment for a period not exceeding ﬁve years, or to both a ﬁne and such imprisonment. (5) A person who contravenes a condition imposed in terms of section 280 commits an offence and is liable on conviction to a ﬁne not exceeding R5 000 000. False or misleading information
273
A person who provides to a ﬁnancial sector regulator or the Reserve Bank,
Verify source ↗

AI-assisted research summary: A person who gives false or misleading information, including by omission, to a financial sector regulator or the Reserve Bank in connection with a financial sector law commits an offence and may be fined up to R10 000 000, imprisoned for up to 10 years, or both.

273. A person who provides to a ﬁnancial sector regulator or the Reserve Bank, information in connection with the operation of a ﬁnancial sector law, that the person knew or believed, or ought reasonably to have known or believed, to be false or misleading, including by omission, commits an offence and is liable on conviction to a ﬁne not exceeding R10 000 000 or imprisonment for a period not exceeding 10 years, or to both a ﬁne and such imprisonment. Accounts and records
274
A person who is required in terms of a ﬁnancial sector law to keep accounts or
Verify source ↗

AI-assisted research summary: A person required by financial sector law to keep accounts or records commits an offence if the records are inaccurate and the person acted knowingly, recklessly, or with intent to deceive, mislead, hinder, or obstruct a regulator or investigator.

274. A person who is required in terms of a ﬁnancial sector law to keep accounts or records commits an offence if— (a) (b) the accounts or records do not correctly record and explain the matters, transactions, acts or operations to which they relate; and the person— (i) knew that, or was reckless whether, the accounts or records correctly recorded and explained the matters, transactions, acts or operations to which they relate; intended to deceive or mislead a ﬁnancial sector regulator or an investigator; or intended to hinder or obstruct a ﬁnancial sector regulator, or an investigator in performing his or her duties in terms of a ﬁnancial sector law, (ii) (iii) and is liable on conviction to a ﬁne not exceeding R10 000 000, or imprisonment for a period not exceeding 10 years, or to both a ﬁne and such imprisonment. False assertion of connection with ﬁnancial sector regulator
275
A person who, without the consent of the ﬁnancial sector regulator, applies to a
Verify source ↗

AI-assisted research summary: A person must not use a company or business name that suggests a connection to a financial sector regulator without consent; violations are offences with fines. The provision also extends liability to certain governing body members and key persons of financial institutions.

275. A person who, without the consent of the ﬁnancial sector regulator, applies to a company, body, business or undertaking a name or description that reasonably signiﬁes or implies some connection between the company, body, business or undertaking and a ﬁnancial sector regulator commits an offence and is liable on conviction to a ﬁne not exceeding R5 000 000. Liability in relation to juristic persons 276. (1) If— 5 10 15 20 25 30 35 40 (a) a ﬁnancial institution commits an offence in terms of a ﬁnancial sector law; and (b) a member of the governing body of the ﬁnancial institution failed to take all reasonably practicable steps to prevent the commission of the offence, 45 the member of the governing body commits the like offence, and is liable on conviction to a penalty not exceeding the penalty that may be imposed on the ﬁnancial institution for the offence. (2) If— (a) a key person of a ﬁnancial institution engages in conduct that amounts to a 50 contravention of a ﬁnancial sector law; and This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 249 247 (b) Motlhankedi kgotsa modiri yo o tlolang molao o o kaiweng mo karolotlaleletsong (1)(b) fa a bonwe molato o tshwanetswe ke kotlhao ya tuelo e e safeteng R5 000 000, kgotsa go tswalelwa kwa kgolegelong sebaka se sa feteng dingwaga tse tlhano, kgotsa go duediswa le go tshwarwa goo ka bobedi. (3) Moruni yo o tlolang karolo 252 o tlola molao e bile fa a bonwe molato o 5 tshwanetswe ke kotlhao ya tuelo e e sa feteng R5 000 000. (4) Motho yo o tlolang karolo 254 o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuelo e e safeteng R5 000 000, kgotsa go tswalelwa kwa kgolegelong sebaka se sa feteng dingwaga tse tlhano, kgotsa go duediswa le go tshwarwa goo ka bobedi. (5) Motho yo o tlolang peelo e e neetsweng go ya ka karolo 280 o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuelo e e sa feteng R5 000 000. Tshedimosetso e e fosagetseng kgotsa e e timetsang
273
Motho yo o tlamelang molaodi wa lephata la ditsˇhelete kgotsa Banka ya Resefe,
Verify source ↗

AI-assisted research summary: A person giving information to the financial-sector regulator or the Reserve Bank commits an offence if the information about the operation of the financial-sector law is false or misleading, including by omission.

273. Motho yo o tlamelang molaodi wa lephata la ditsˇhelete kgotsa Banka ya Resefe, ka tshedimosetso mabapi le tiro ya molao wa lephata la ditsˇhelete, e motho a itseng kgotsa a dumelang , kgotsa e aka mabaka a neng a itse kgotsa a dumela, gore e fosagetse kgotsa e e timetsa, go akaretsa le ka tlogelo, o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuelo e e sa feteng R10 000 000, kgotsa go tswalelwa kwa kgolegelong sebaka se sa feteng dingwaga tse 10, kgotsa go duediswa le go tshwarwa goo ka bobedi. Diakhaonto le direkoto
274
Motho yo o tlhokegang go ya ka molao wa lephata la ditsˇhelete go tshola
Verify source ↗

AI-assisted research summary: A person required to keep accounts and records under financial department law commits an offence if the records are incomplete or misleading and the person acted knowingly, recklessly, or with intent to deceive, mislead, obstruct, or prevent the authority or investigator.

274. Motho yo o tlhokegang go ya ka molao wa lephata la ditsˇhelete go tshola diakhaonto le direkoto o tlola molao fa— (a) diakhaonto kgotsa direkoto di sa rekote le go tlhalosa dintlha, ditsamaiso, ditiro kgotsa dikgato tseo di amanang le tsona, e bile (b) motho— 10 15 20 25 (i) a ne a itse, kgotsa a ne a sa kgathalele gore, diakhaonto kgotsa direkoto di gatisitse le go tlhalosa dintlha, ditsamaiso, ditiro kgotsa dikgato tse di amanang le tsona; (ii) a ne a ikaeletse go tsietsa kgotsa go faposa bolaodi jwa lephata la 30 ditsˇhelete kgotsa mmatlisisi; kgotsa (iii) a ne a ikaeletse go kgoreletsa kgotsa go thibela bolaodi jwa lephata la ditsˇhelete, kgotsa mmatlisisi mo go direng ditiro tsa gagwe go ya ka molao wa lephata la ditsˇhelete, ebile o tshwanetswe ke kotlhao ya tuelo e e sa feteng R10 000 000, kgotsa go tswalelwa kwa kgolegelong sebaka se sa feteng dingwaga tse 10, kgotsa go duediswa le go tshwarwa goo ka bobedi. 35 Tlnagiso e e fosagetseng ya kamano le bolaodi jwa lephata la ditsˇhelete
275
Motho yo, ntle le tumelelo ya molaodi wa lephata la ditsˇhelete, o dirisang go
Verify source ↗

AI-assisted research summary: A person may not use, without permission, a name or description that suggests a relationship with the financial regulator; violating this is an offence with a fine up to R5,000,000.

275. Motho yo, ntle le tumelelo ya molaodi wa lephata la ditsˇhelete, o dirisang go setlamo, mokgatlho, kgwebo kgotsa kano leina kgotsa tlhaloso e e kayang kgotsa bontshang kamano e e rileng magareng ga setlamo, mokgatlho, kgwebo kgotsa kano le molaodi wa lephata la ditsˇhelete o tlola molao e bile fa a bonwe molato o tshwanetswe ke katlholo ya tuediso e e sa feteng R5 000 000. Melato mo kamanong le ditheo 276. (1) Fa— (a) (b) setheo sa ditsˇhelete se dira molato go ya ka molao wa lephata la ditsˇhelete; le leloko lengwe le lengwe la mokgatlho o o busang wa setheo sa ditsˇhelete le le paletswe ke go tsaya dikgato tsotlhe tse di maleba tse di kgonegang go thibela tirego ya molato, leloko la mokgatlho o busang le tlola molato oo, e bile fa le bonwe molato le tshwanetswe ke kotlhao e e safeteng kotlhao e e kapateletswang setheo sa ditsˇhelete mabapi le tlolomolao. (2) Fa— (a) motho yo o botlhokwa wa setheo sa ditsˇhelete a dira boitshwaro jo bo lereng tlolo ya molao wa lephata la ditsˇhelete; le 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za
250
No. 41060
Verify source ↗

AI-assisted research summary: If a financial institution did not take all reasonably practicable steps to prevent the conduct, it is treated as having engaged in that conduct.

250 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 248 (b) the ﬁnancial institution failed to take all reasonably practicable steps to prevent the conduct, the ﬁnancial institution must be taken also to have engaged in the conduct. Part 4 General matters Complaints

Part

Part 4

206
No. 41060
Verify source ↗

AI-assisted research summary: Financial institutions must disclose ombud scheme details to customers, must not mislabel internal complaints handling or improperly direct complaints to ombuds, and must join a relevant recognised industry ombud scheme where one exists.

206 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 204 Restrictions on ﬁnancial institutions in relation to ombud schemes 210. (1) A ﬁnancial institution may not describe any internal procedure it has for dealing with or resolving complaints made to it by ﬁnancial customers as an ombud scheme, or a person that deals with or resolves such complaints as an ombud. (2) A ﬁnancial institution must disclose to its ﬁnancial customers applicable ombud schemes, and how to contact and submit complaints to those schemes, in accordance with Ombud Council rules that may be issued in this regard. (3) (a) A ﬁnancial institution may not require or invite a ﬁnancial customer to make 5 a complaint to an— (i) ombud, unless the person so charged with this function is part of a recognised industry ombud scheme or a statutory ombud scheme; or 10 (ii) ombud scheme, unless the ombud scheme concerned is a recognised industry ombud scheme or a statutory ombud scheme. (b) A requirement or invitation contrary to paragraph (a) is void. (4) An ombud scheme may not describe or hold itself out as being a recognised 15 industry ombud scheme in terms of this Part unless it is so recognised. (5) An ombud scheme may not permit another person to identify it as a recognised industry ombud scheme in terms of this Part, unless it is so recognised. (6) For the purposes of subsections (3), (4) and (5), an ombud scheme whose recognition has been suspended or revoked is not recognised. Applicable ombud schemes 211. (1) (a) If there is no recognised industry ombud scheme or statutory ombud scheme that makes provision for the resolution of complaints about ﬁnancial products or ﬁnancial services of a particular kind, the Ombud Council may, after consulting relevant ombud schemes, designate an ombud scheme, or two or more ombud schemes, to deal with and resolve complaints about products or services of that kind. (b) If the Ombud Council designates two or more ombud schemes in terms of paragraph (a), it must also determine the elements of the complaint to be dealt with and resolved by each of the designated schemes. (c) The Ombud Council may so designate an ombud scheme on its own initiative or on application by the scheme or a ﬁnancial institution that provides or proposes to provide ﬁnancial products or ﬁnancial services of that kind. (2) If the Ombud Council designates an ombud scheme in terms of subsection (1) to deal with and resolve complaints about ﬁnancial products or ﬁnancial services of a particular kind— (a) each ombud for the designated ombud scheme— (i) has the power and the duty, despite anything in any Act or the governing rules of the ombud scheme, to deal with and resolve complaints about the products or services, in accordance with the designation; and (ii) must deal with and resolve those complaints in the same way as it deals with and resolves other complaints to which the ombud scheme relates; and the governing rules of the ombud scheme must be read as including an obligation on the ﬁnancial institution to comply with the determination of the ombud on those complaints. (b) (3) If a ﬁnancial institution provides ﬁnancial products and ﬁnancial services and there is a recognised industry ombud scheme that provides for the resolution of complaints about ﬁnancial products or ﬁnancial services of that kind, the ﬁnancial institution must be a member of that industry ombud scheme. 20 25 30 35 40 45 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 207 205 Dithibelo mo ditheong tsa ditsˇhelete mabapi le dikema tsa ombud 210. (1) Setheo sa ditsˇhelete se ka se neelane ka tsamaiso epe ya ka fa gare e e nang le yona mabapi le go samagana le kgotsa go rarabolola dingongorego tse di dirilweng go sona ke barekedi ba ditsˇhelete jaaka sekema sa ombud, kgotsa motho yo o samaganang le kgotsa yo o rarabololang dingongorego tseo jaaka ombud. (2) Setheo sa ditsˇhelete se tshwanetse go senolela barekedi ba sona ba ditsˇhelete dikema tsa ombud tse di diriswang, le ka moo go ka ikgolaganngwang le go romela dingongorego go dikema tseo, go tsamaelana le melawana ya khansele ya ombud e e ka rebolwang mabapi le seno. 5 (3) (a) Setheo sa ditsˇhelete se ka se lope kgotsa laletse morekedi wa ditsˇhelete go 10 ngongoregela go— (i) (ii) ombud, ntle le fa motho yo o neetsweng maikarabelo a tiro eno e le karolo ya sekema sa ombud sa bodirelo se se amogetsweng kgotsa sekema sa ombud sa semolao; kgotsa sekema sa ombud, ntle le fa sekema sa ombud se se amegang e le sekema sa ombud sa bodirelo se se amogetsweng kgotsa sekema sa ombud sa semolao. (b) Tlhokego kgotsa taletso e e farologaneng le temana (a) ga e amogelesege. (4) Sekema sa ombud se ka se itlhalose kgotsa se itseele gore ke sekema sa ombud sa bodirelo se se amogetsweng go ya ka Karolo eno ntle le fa se amogetswe jalo. (5) Sekema sa ombud se ka se letle motho yo mongwe go se supa jaaka sekema sa ombud sa bodirelo se se amogetsweng go ya ka Karolo eno, ntle le fa se amogetswe jalo. (6) Mabapi le maitlhomo a dikarolotlaleletso (3), (4) le (5), sekema sa ombud se kamogelo ya sona e sekegilweng kgotsa e phimotsweng ga se amogelesege. Dikema tsa ombud tse di diriswang 211. (1) (a) Fa go sena sekema sa ombud sa bodirelo kgotsa sekema sa ombud sa semolao se se amogetsweng se se dirang kabelo mabapi le tharabololo ya dingongorego ka ga dikuno tsa ditsˇhelete kgotsa ditirelo tsa ditsˇhelete tsa mofuta o o rileng, Khansele ya Ombud e ka, morago ga go rerisana le dikema tsa ombud tse di maleba, thapa sekema sa ombud, kgotsa dikema sa ombud tse pedi kgotsa go feta, go samagana le le go rabolola dingongorego ka ga dikuno kgotsa ditirelo tsa mofuta oo. (b) Fa Khansele ya Ombud e thapa dikema tsa ombud di le pedi kgotsa go feta go ya ka temana (a), e tshwanetse gape go tlhomamisa dipopi tsa ngongorego e e tshwanetseng go sekasekwa le go rabololwa ke nngwe le nngwe ya dikema tse di thapilweng. (c) Khansele ya Ombud e ka thapa sekema sa ombud ka maiteko a boyona kgotsa ka kopo ya sekema kgotsa setheo sa ditsˇhelete se se tlamelang kgotsa tshitsinyang go tlamela ka dikuno tsa ditsˇhelete kgotsa ditirelo tsa ditsˇhelete tsa mofuta oo. (2) Fa Khansele ya Ombud e thapa sekema sa ombud go ya ka karolotlaleletso (1) go sekaseka le go rarabolola dingongorego tse di ka ga dikuno tsa ditsˇhelete kgotsa ditirelo tsa ditsˇhelete tsa mofuta oo— (a) ombud mongwe le mongwe wa sekema sa ombud se se supilweng— (i) o na le thata le tiro, ntle le sengwe le sengwe se se mo Molaong kgotsa melawaneng ya go busa ya sekema sa ombud, ya go samagana le go rarabolola dingongorego tse di ka ga dikuno kgotsa ditirelo, go tsamaelana le thapo; le (ii) o tshwanetse go samagana le go rarabolola dingongorego tseo ka mokgwa o o tshwanang le wa fa a samagana le go rarabolola dingongorego tse dingwe tse sekema sa ombud di amanang le tsona; le (b) melawana ya go busa ya sekema sa ombud e tshwanetse go tsewa jaaka e kete e akaretsa tlamego mo setheong sa ditsˇhelete go ikamanya le tlhomamiso ya ombud mo dingongoregong tseo. (3) Fa setheo sa ditsˇhelete se tlamela ka dikuno tsa ditsˇhelete le ditirelo tsa ditsˇhelete e bile go na le sekema sa ombud sa bodirelo se se amogetsweng se se tlamelang mabapi le tharabololo ya dingongorego tse di ka ga dikuno tsa ditsˇhelete kgotsa ditirelo tsa ditsˇhelete tsa mofuta oo, setheo sa ditsˇhelete se tshwanetse go nna leloko la sekema seo sa ombud sa bodirelo. 15 20 25 30 35 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za
208
No. 41060
Verify source ↗

AI-assisted research summary: An industry ombud scheme must not handle a complaint that belongs with a statutory ombud scheme and must refer it there unless the statutory scheme has declined. An ombud scheme also must not handle a complaint already dealt with by another ombud scheme, unless it was referred over or both schemes were designated by the Ombud Council.

208 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Overlaps between ombud schemes 206 212. (1) An industry ombud scheme may not deal with a complaint to which a statutory ombud scheme applies, but must refer the complaint to the appropriate statutory ombud scheme unless the statutory ombud scheme has declined to deal with the complaint. (2) An ombud scheme may not deal with a complaint that has been dealt with by another ombud scheme unless— (a) (b) the complaint is referred to it by the other ombud scheme; or the Ombud Council has designated both schemes in terms of section 211(1) to deal with and resolve complaints of the relevant kind and each scheme is dealing with the elements of the complaint in accordance with the applicable determination in terms of section 211(1)(b). Collaboration between ombuds and ombud schemes
213
The ombud schemes, and the ombuds, must cooperate and collaborate with each
Verify source ↗

AI-assisted research summary: Ombud schemes and ombuds must work together on complaints about financial institutions, and the Ombud Council must follow set steps before recognising an industry ombud scheme.

213. The ombud schemes, and the ombuds, must cooperate and collaborate with each other regarding complaints about ﬁnancial institutions in relation to ﬁnancial products and ﬁnancial services, including by developing processes and procedures to jointly hear and determine complaints, on their own initiative or as may be required by Ombud Council rules. Governing rules of recognised industry ombud scheme 5 10 15 214. (1) Before the Ombud Council can recognise an industry ombud scheme in terms 20 of section 194, the Ombud Council must— (a) publish— (i) a draft of the governing rules or amendments to the governing rules; (ii) a statement explaining the need for and the intended operation of the governing rules or the amendment to the governing rules; (iii) a statement of the expected impact of the governing rules or the amendment to the governing rules; and (iv) a notice inviting submissions in relation to the rules or amendment to the governing rules and stating where, how and by when submissions are to be made; and (b) submit the draft governing rules to the Financial Sector Conduct Authority. (2) The period allowed for making submissions on the governing rules or amendments to the governing rules in terms of subsection (1) must be at least 30 days. (3) (a) The governing rules of a recognised industry ombud scheme must be approved by and may not be amended without the approval of the Ombud Council. (b) Governing rules or amendments to governing rules that are adopted by a recognised industry ombud scheme without the approval by the Ombud Council are void. (4) The Ombud Council must not approve governing rules or an amendment to governing rules unless it is satisﬁed that to do so assists in achieving the object of this Act as set out in section 7. Obligation to comply with governing rules of recognised industry ombud schemes 215. (1) A ﬁnancial institution that is a member of a recognised industry ombud scheme must comply with the governing rules of the scheme. (2) Without limiting any other right that a ﬁnancial customer of a ﬁnancial institution that is a member of a recognised industry ombud scheme may have, the ﬁnancial customer may enforce the obligation in subsection (1) in relation to a ﬁnancial product or a ﬁnancial service as if the obligation were a provision of the contract in terms of which the ﬁnancial product or ﬁnancial service was provided to the ﬁnancial customer. 25 30 35 40 45 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 209 Ditshelepano magareng ga le direma tsa ombud 207 212. (1) Ombud wa sekema sa ombud sa bodirelo o ka se samagane le ngongorego eo sekema sa ombud sa molao se diriswang, mme o tshwanetse go romela ngongorego go sekema sa ombud sa molao se se maleba ntle le fa sekema sa ombud sa molao se ganne go samagana le ngongorego. (2) Sekema sa ombud se ka se samagane le ngongorego e e setseng e rarabolotswe ke sekema sa ombud se sengwe ntle le fa— (a) ngongorego e rometswe kwa go sona ke sekema sa ombud se sengwe; kgotsa (b) Khansele ya Ombud e thapile dikema ka bobedi go ya ka karolo 211(1) go sekaseka le go rarabolola dingongorego tsa mofuta o o maleba e bile sekema sengwe le sengwe se sekaseka le dipopi tsa ngongorego go tsamaelana le tlhomamiso e e diriswang go ya ka karolo 211(1)(b). Tirisanommogo magareng ga ombuds le dikema tsa ombuds
213
Dikema tsa ombud, le ombuds, ba tshwanetse go dirisana mmogo le go kopana
Verify source ↗

AI-assisted research summary: Ombud schemes and ombuds must work together and meet about complaints involving financial institutions, financial products, and financial services.

213. Dikema tsa ombud, le ombuds, ba tshwanetse go dirisana mmogo le go kopana mabapi le dingongorego tse di ka ga ditheo tsa ditsˇhelete mabapi le dikuno tsa ditsˇhelete le ditirelo tsa ditsˇhelete, go akaretsa le ka go tlhabolola dikgato le ditsamaiso tsa go reetsa le go tlhomamisa dingongorego ka kopano, ka maiteko a tsona kgotsa jaaka go tla be go tlhokega go ya ka melwana ya Khansele ya Ombud. 5 10 15 Melawana e e laolang ya sekema se se amogelesegang sa bodirelo jwa ombud sa bodirelo se se amogetsweng 20 214. (1) Pele Khansele ya Ombud e ka amogela sekema sa ombud sa bodirelo go ya ka karolo 194, Khansele ya Ombud e tshwanetse go— (a) phasalatsa— (i) thalo ya melawana ya go busa kgotsa ditlhabololo tsa melawana ya go busa; 25 (ii) polelo e e tlhalosang tlhokego ya le tsamaiso e e ikaeletsweng ya melawana ya go busa kgotsa tlhabololo ya melawana e e busang; (iii) polelo ya kutlwalo e e solofetsweng ya melawana ya go busa kgotsa tlhabololo ya melawana ya go busa; le (iv) kitsiso e ka yona go laletswang ditlhagiso mabapi le melawana kgotsa tlhabololo ya melawana ya go busa e bile e bolela gore ditlhagiso di ka dirwa kae, jang le gore leng; le (b) romela thalo ya melawana ya go busa kwa Bothating jwa Boitshwaro jwa Lephata la Ditsˇhelete. (2) Nako e e dumeletsweng ya go dira ditlhagiso ka ga melawana ya go busa kgotsa ditlhabololo go melawana ya go busa go ya ka karolotlaleletso (1) e tshwanetse go nna bonnye malatsi a le 30. (3) (a) Melawana ya go busa ya sekema sa ombud sa bodirelo se se amogetsweng e tshwanetse go rebolwa ke e bile e ka se tlhabololwe ntle le thebolo ya Khansele ya Ombud. (b) Melawana ya go busa kgotsa ditlhabololo go melawana e e busang e e amogetsweng ke sekema sa ombud sa bodirelo se se amogetsweng ntle le thebolo ya Khansele ya Ombud ga e amogelesege. (4) Khansele ya Ombud ga e a tshwanela go rebola melawana ya go busa kgotsa tlhabololo go melwana ya gobusa ntle le fa e kgotsofetse gore go dira jalo go thusa go ﬁtlhelela maikaelelo a Molao ono a a tlhalositsweng mo karolong 7. 30 35 40 45 Tlamego ya go ikamanya le melawana e e laolang ya dikema tse di a mogele se gang tsa bodirelo jwa Ombud 215. (1) Setheo sa ditsˇhelete se e leng leloko la sekema sa ombud sa bodirelo se se amogetsweng se tshwanetse go ikamanya le melawana ya go busa ya sekema. 50 (2) Ntle le go lekanyetsa tshwanelo nngwe le nngwe e morekedi wa setheo sa ditsˇhelete se se abetsweng laesense seo e leng leloko la sekema sa ombud sa bodirelo se se amogetsweng a ka nnang le yona, morekedi wa ditsˇhelete o ka gatelela tlamego e e mo karolotlaleletsong (1) mabapi le kuno ya ditsˇhelete kgotsa tirelo ya ditsˇhelete jaaka e kete tlamego e ne e le kabelo ya konteraka e go ya ka yona kuno ya ditsˇhelete kgotsa tirelo ya ditsˇhelete e neng e tlametswe go morekedi wa ditsˇhelete. 55 This gazette is also available free online at www.gpwonline.co.za
210
No. 41060
Verify source ↗

AI-assisted research summary: Section 210 is headed “Suspension of time barring terms.”

210 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Suspension of time barring terms 208
216
Receipt of a complaint by a ﬁnancial sector regulator, the Ombud Council or an
Verify source ↗

AI-assisted research summary: Complaints can pause time limits and ombud bodies have reporting and information-sharing duties.

216. Receipt of a complaint by a ﬁnancial sector regulator, the Ombud Council or an ombud suspends any applicable time barring terms, whether in terms of an agreement or any law, or the running of prescription in terms of the Prescription Act, 1969 (Act No. 68 of 1969), for the period from the receipt of the complaint until the complaint has either been withdrawn or ﬁnally determined. Reporting 217. (1) An ombud scheme must— (a) within six months after the end of each ﬁnancial year, submit to the Ombud Council, in the form and with the content required by the Ombud Council, a report on the operation of the ombud scheme during the ﬁnancial year, including in relation to— (i) compliance with the ﬁnancial sector laws in so far as they relate to (ii) (iii) ombud schemes; the complaints that the ombud scheme is dealing with, and how they are being dealt with; and the conduct of ﬁnancial institutions that is giving rise to complaints; and (b) comply with any request by the Ombud Council at any time for information about the operation of the ombud scheme, trends in and implications of the conduct of ﬁnancial institutions observed by the ombud scheme, and any other relevant information. (2) Each of the following must, on request by the Financial Sector Conduct Authority, and may at any time, provide information and reports to the Financial Sector Conduct Authority about the operation of ombud schemes and trends in and implications of the conduct of ﬁnancial institutions observed by it: (a) The Ombud Council; (b) a statutory ombud scheme; (c) a recognised industry ombud scheme. (3) If, in dealing with a complaint, an ombud becomes aware that there has or may have been— 5 10 15 20 25 30 (a) a contravention of a ﬁnancial sector law in a material way by a ﬁnancial institution; or (b) an activity or action by a ﬁnancial institution that has an effect on ﬁnancial customers other than the complainant, the ombud must report the details of the matter, including the identity of the ﬁnancial institution concerned, to the Financial Sector Conduct Authority. 35 (4) (a) The Ombud Council must provide the Minister of Finance and the National Treasury with information, returns, documents, explanations and motivations that may be prescribed by Regulation for this section or information that the Minister of Finance or the National Treasury may request. (b) Paragraph (a) does not require or permit the provision of information about persons identiﬁable from the information. CHAPTER 15 FINANCIAL SERVICES TRIBUNAL Part 1 Interpretation 40 45 Deﬁnitions
231
Neither an application for a reconsideration of a decision, nor the proceedings on
Verify source ↗

AI-assisted research summary: Reconsideration proceedings do not stop the decision unless the Tribunal orders otherwise, and the section sets out how those proceedings are run.

231. Neither an application for a reconsideration of a decision, nor the proceedings on the application, suspends the decision of the decision-maker unless the Tribunal so orders. Proceedings for reconsideration of decisions 232. (1) In proceedings for reconsideration of a decision— (a) (b) (c) the procedure is, subject to the ﬁnancial sector laws and the Tribunal rules, determined by the Chairperson; the proceedings are to be conducted with as little formality and technicality, and as expeditiously, as the requirements of the ﬁnancial sector laws and a proper consideration of the matter permit; and any party may be represented by a legal representative. (2) The person chairing a panel may give directions to facilitate the conduct of proceedings for reconsideration of a decision before the panel. (3) A panel must conduct any hearing it holds in public, but the person presiding over the panel may direct that a person be excluded from a hearing on any ground on which it would be proper to exclude a person from civil proceedings before the High Court. (4) In proceedings for reconsideration of a decision, the panel is not bound by the rules of evidence, but may, subject to this section, inform itself on any relevant matter in any appropriate way. (5) The person presiding over a panel— (a) may, on good cause shown, by order, direct a speciﬁed person to appear before the panel at a time and place speciﬁed in the order to give evidence, to be questioned or to produce any document; and (b) must administer an oath to or accept an affirmation from any person called to give evidence. (6) A person giving evidence or information, or producing documents, has the protections and liabilities of a witness giving evidence in proceedings before the High Court. Decisions of panels
233
If the panel constituted for an application for reconsideration of a decision is
Verify source ↗

AI-assisted research summary: If a reconsideration panel is divided, the majority view prevails; if the panel is tied, the presiding member’s view prevails.

233. If the panel constituted for an application for reconsideration of a decision is divided in opinion as to an order to be made, the opinion of the majority of the panel members prevails, but if they are equally divided in opinion, the opinion of the member presiding over the panel prevails. 5 10 15 20 25 30 35 40 45 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 221 219 Karolo 4 Tshekatsheko poeletso ya ditshwetso Dikopo mabapi le tshekatshekopoeletso ya ditshwetso 230. (1) (a) Motho yo o ngongoregelang tshwetso o ka dira kopa kwa Lekgotleng mabapi le tshekatshekogape ya tshwetso ke Lekgotla go tsamaelana le Karolo eno. 5 (b) Tshekatshekogape ya tshwetso go ya ka Karolo eno e tshwanetswe ke namolo ya ka fa gare jaaka go tlhalositswe mo karolong 7(2) ya Promotion of Administrative Justice Act. (2) Kopo e tshwanetse go dirwa— (a) fa modirakopo a kopile mabaka go ya ka karolo 229, mo malatsing a le 30 morago ga fa polelo ya mabaka e sena go newa motho; kgotsa 10 (b) mo mabakeng otlhe a mangwe, mo malatsing a le 60 morago ga fa modirakopo a sena go itsisiwe ka tshwetso. kgotsa nako eo e telele e e ka letlwang ka mowa o montle. (3) Kopo go ya ka karolotlaleletso (1) e tshwanetse go dirwa go tsamaelana le 15 Melawana ya Lekgotla. Tshwetso ya Lekgotla e e sa sekegwang
231
Kopo ya tshekatshekogape ya tshwetso, kgotsa ditsamaiso mo kopong, ga di
Verify source ↗

AI-assisted research summary: Review proceedings do not automatically stay the decision unless the court orders otherwise, and the panel has powers and duties about hearings, directions, evidence, and witness attendance.

231. Kopo ya tshekatshekogape ya tshwetso, kgotsa ditsamaiso mo kopong, ga di sekege tshwetso ya motho yo o dirileng tshwetso ntle le fa Lekgotla le laela jalo. Ditsamaiso tsa tshekatshekopoeletso ya ditshwetso 232. (1) Mo ditsamaisong mabapi le tshekatshekogape ya tshwetso— (a) tsamaiso e, go larleal melao ya lephata la ditsˇhelete le Melawana ya Lekgotla, tlhomamiswa ke Modulasetilo; (b) ditsamaiso di tshwanetse go dirwa e seng ka tsenelelo e kgolo le ka nolofatso, mme ka bonako, jaaka go tlhokega go ya ka melao ya lephata la ditsˇhelete le kelotlhoko e kgolo; le (c) moamegi mongwe le mongwe o ka emelelwa moemedi wa semolao. (2) Motho yo o okameng panele o ka neelana ka dikaelo go nolofatsa tsamiso ya ditsamaiso tsa tshekatshekogape ya tshwanelo e e fa pele ga panele. (3) Panele e tshwanetse go tshwara theetso nngwe le nngwe e e nnang le yona mo phatlalatseng, mme motho yo o okamang panele o ka laela gore motho a se akaretswe mo tsamaisong ka ntlha ya lebaka lengwe le lengwe leo ka lona go tla nnang matshwanedi go se fa pele ga Kgotlatshekelokgolo. akaretse motho mo ditsamaisong tse di (4) Mo ditsamaisong mabapi le tshekatshekogape ya tshwetso, panele ga e pateletswe ke melawana ya bopaki, mme e ka, go latela karolo eno, ikitsise ka ga merero mengwe le mengwe e e maleba ka mokgwa o o siameng. (5) Motho yo o okameng panele— (a) o ka, ka lebaka le le utlwagalang, ka taelo, laela motho yo o tsepamisitsweng go tlhagelela fa pele ga Panele ka nako le kwa lefelong le le tsepamisitsweng mo taelong go neelana ka bopaki, go botsolotswa kgotsa go tlhagiso lokwalo lengwe le lengwe; le (b) o tshwanetse go tsamaisa kano ya kgotsa go amogela netefaletso go tswa mo mothong mongwe le mongwe yo o biditsweng go neelana ka bopaki. (6) Motho yo o neelanang ka bopaki kgotsa tshedimosetso, kgotsa yo o tlhagisang dikwalo, mabapi le ditsamaiso tse di ka ga tshekatshekogape ya tshwetso o na le ditshireletso le melato ya paki e e neelanang ka bopaki mo ditsamaisong tse di fa pele ga Kgotlatshekelokgolo. Ditshwetso tsa panele
233
Fa panele e e tlhomilweng malebana le kopo ya tshekatshekogape ya tshwetso e
Verify source ↗

AI-assisted research summary: For a review application decided by a panel, the majority view applies; if the panel is tied, the presiding member’s view applies.

233. Fa panele e e tlhomilweng malebana le kopo ya tshekatshekogape ya tshwetso e sa dumalane ka gore taelo e dirwe, kakanyo ya bontsi jwa maloko a panele e a diragatswa, mme fa ba lekana ka pharologano ya dikakanyo, kakanyo ya leloko le le okamang panele e a diragatswa. 20 25 30 35 40 45 50 This gazette is also available free online at www.gpwonline.co.za
222
No. 41060
Verify source ↗

AI-assisted research summary: The Tribunal can make several orders when reconsidering a decision, including setting it aside, remitting it, substituting its own decision in some cases, dismissing the application, and in exceptional cases ordering costs.

222 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Tribunal orders 220 234. (1) In proceedings on an application for reconsideration of a decision the Tribunal may, by order— (a) (b) set the decision aside and remit the matter to the decision-maker for further consideration; in the case of a decision of any of the following kinds, also make an order setting aside the decision and substituting the decision of the Tribunal: (i) A decision in terms of Chapter 13; (ii) a decision referred to in paragraph (b) or (c) of the deﬁnition of ‘‘decision’’ in section 218; and (iii) a decision of a kind prescribed by Regulation for the purposes of this section; or (c) dismiss the application. (2) The Tribunal may, in exceptional circumstances, make an order that a party to proceedings on an application for reconsideration of a decision pay some or all of the costs reasonably and properly incurred by the other party in connection with the proceedings. (3) Subsections (1) and (2) are subject to any provision of a ﬁnancial sector law that excludes, restricts or qualiﬁes the orders that the Tribunal may make in proceedings for reconsideration of a decision. (4) The Tribunal may, by order, summarily dismiss an application for reconsideration of a decision if the application is frivolous, vexatious or trivial. (5) This section does not affect any other right that a person may have. Judicial review of Tribunal orders
235
Any party to proceedings on an application for reconsideration of a decision
Verify source ↗

AI-assisted research summary: A dissatisfied party may seek judicial review of a Tribunal order, and a party may file a certified copy of an order with a competent court registrar if the related court proceedings have not started in time or have been finally resolved. Financial sector bodies may also charge fees and impose levies under the Part to fund their functions and operations.

235. Any party to proceedings on an application for reconsideration of a decision who is dissatisﬁed with an order of the Tribunal may institute proceedings for a judicial review of the order in terms of the Promotion of Administrative Justice Act or any applicable law. Enforcement of Tribunal orders 236. (1) A party to proceedings on an application for reconsideration of a decision may ﬁle with the registrar of a competent court a certiﬁed copy of an order made in terms of section 234 if— (a) no proceedings in relation to the making of the order have been commenced in a court by the end of the period for commencing such proceedings; or if such proceedings have been commenced, the proceedings have been ﬁnally disposed of. (b) (2) The order, on being ﬁled, has the effect of a civil judgment, and may be enforced as if lawfully given in that court. CHAPTER 16 FEES, LEVIES AND FINANCES Part 1 Fees and Levies Fees and levies 237. (1) (a) Fees may be charged by a ﬁnancial sector body in accordance with this Part to fund the performance of speciﬁc functions under this Act and the relevant ﬁnancial sector laws. (b) Levies may be imposed by a ﬁnancial sector body in accordance with this Part, read with legislation that empowers the imposition of levies, to fund the operations of the ﬁnancial sector body. 5 10 15 20 25 30 35 40 45 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 223 Ditaelo tsa Lekgotla 221 234. (1) Mo ditsamaisong tsa kopo e e mabapi le tshekatshekogape ya tshwetso, Lekgotla le ka, ka taelo— (a) beela tshwetso kwa thoko le go romela morero kwa mothing yo o tsayang tshwetso gore o sekasekwe go ya pele; (b) mabapi le tshwetso ya mefuta e e latelang, dira gape taelo e e beelang kwa thoko tshwetso le go emisetsa tshwetso ya Lekgotla: (i) Tshwetso go ya ka Kgaolo 13; (ii) tshwetso e e kailweng mo temaneng (b) kgotsa (c) ya tlhaloso ya ‘‘tshwetso’’ mo karolong 218; le tshwetso ya mofuta o o rileng e e neetsweng ke melawana mabapi, le maitlhomo a karolo eno; kgotsa (iii) (c) se amogele kopo. (2) Lekgotla le ka, mo mabakeng a a kgethegileng, dira taelo ya gore moamegi mo ditsamaisong tsa kopo mabapi le tshekatshekogape ya tshwetso duelela bontlhabongwe jwa ditshenyegelo kgotsa ditshenyegelo tsotlhe tse di bonweng ka mabaka le ka tshiamo ke moamegi yo mongwe mabapi le ditsamaiso. (3) Dikarolotlaleletso (1) le (2) di go ya ka kabelo nngwe le nngwe ya molao wa lephata la ditsˇhelete e e saakaretseng, thibeleng kgotsa tlhaoleng ditaelo tse di ka dirwang ke Lekgotla mo ditsamaisong mabapi le tshekatshekogape ya tshwetso. (4) Lekgotla le ka, ka taelo, kgapela kwa thoko ka tshosobanyo kopo mabapi le tshekatshekogape ya tshwetso fa kopo e le ya lefela, thumulano kgotsa e e seng botlhokwa. (5) Karolo eno ga e ame tshwanelo nngwe le nngwe e motho a ka tswang a na le yona. Tshekatsheko ya katlholo ya ditaelo tsa Lekgotla
249
The Chairperson of the Tribunal is responsible to ensure that the functions and
Verify source ↗

AI-assisted research summary: The Chairperson of the Tribunal must ensure the Tribunal’s functions and duties under this Chapter are carried out.

249. The Chairperson of the Tribunal is responsible to ensure that the functions and 30 duties of the Tribunal in terms of this Chapter are performed. CHAPTER 17 MISCELLANEOUS Part 1 Information sharing and reporting Designated authority
277
A ﬁnancial sector regulator must, if asked, assist a person to make a complaint
Verify source ↗

AI-assisted research summary: A financial sector regulator must help a person make a complaint to the appropriate ombud if asked.

277. A ﬁnancial sector regulator must, if asked, assist a person to make a complaint to the appropriate ombud about the actions or practices in terms of a ﬁnancial sector law, of a person in connection with providing ﬁnancial products or ﬁnancial services. Compensation for contraventions of ﬁnancial sector laws
278
A person, including a ﬁnancial sector regulator, who suffers loss because of a
Verify source ↗

AI-assisted research summary: A person who suffers loss from another person’s contravention of a financial sector law may sue to recover the loss. Financial sector regulators may extend compliance periods, licences may carry conditions, and a responsible authority may exempt persons from specific provisions.

278. A person, including a ﬁnancial sector regulator, who suffers loss because of a contravention of a ﬁnancial sector law by another person, may recover the amount of the loss by action in a court of competent jurisdiction against— the other person; and (a) (b) any person who was knowingly involved in the contravention. Extension of period for compliance 5 10 15 279. (1) A ﬁnancial sector regulator may, for a valid reason, extend any period for compliance with, or a period prescribed by, a provision of a ﬁnancial sector law, other than a provision that the ﬁnancial sector regulator must comply with. (2) A ﬁnancial sector regulator may grant an extension in terms of subsection (1) more than once, and may do so either before or after the time for compliance has passed or the period prescribed has ended. 20 Conditions of licences 280. (1) A licence may be given subject to conditions speciﬁed in the licence or in the notice of the grant or issue of the licence given to the licensee. (2) A suspension, cancellation or revocation of a licence in terms of a ﬁnancial sector law may be subject to conditions speciﬁed in the notice of the suspension, cancellation or revocation given to the licensee. (3) Contravention of a condition in terms of subsection (2) does not affect the suspension, cancellation or revocation of the licence. (4) In this section, a reference to a licence must be read as including a reference to a consent, agreement, approval or permission of any kind in terms of a ﬁnancial sector law. Exemptions 281. (1) The responsible authority for a ﬁnancial sector law may, in writing and with the concurrence of the other ﬁnancial sector regulator, exempt any person or class of persons from a speciﬁed provision of the ﬁnancial sector law, unless it considers that granting the exemption— (a) will be contrary to the public interest; or (b) may prejudice the achievement of the objects of a ﬁnancial sector law. (2) Subsection (1) applies to the granting of exemptions if a ﬁnancial sector law does not provide a power to grant exemptions. (3) If a ﬁnancial sector law provides a power to grant exemptions, the responsible authority must— 25 30 35 40 (a) grant the exemption in terms of the relevant provisions of the ﬁnancial sector 45 law; and This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 251 249 (b) setheo sa ditsˇhelete se palelwa ke go tsaya dikgato tsotlhe tse di maleba go thibela boitshwaro joo, setheo sa ditsˇhelete se tshwanetse go tsewa gore le sona se dirile tlolo ya molao. Karolo 4 Merero ya kakaretso Dingongorego
277
Molaodi wa lephata la ditsˇhelete o tshwanetse, fa a kopilwe, go thusa motho go
Verify source ↗

AI-assisted research summary: If asked, the financial department official must help a person make a complaint to the appropriate ombud.

277. Molaodi wa lephata la ditsˇhelete o tshwanetse, fa a kopilwe, go thusa motho go dira ngongorego go ombud yo o maleba ka ga ditiro kgotsa ditiragatso go ya ka molao wa lephata la ditsˇhelete, tsa motho mabapi le go tlamela ka dikuno tsa ditsˇhelete kgotsa ditirelo tsa ditsˇhelete. Tuelo ya ditlolo melao tsa lephata la ditsˇhelete
278
Motho, go akaretsa le molaodi wa lephata la ditsˇhelete, yo o itemogelang
Verify source ↗

AI-assisted research summary: This provision lets certain people recover loss in court, allows the financial department manager to extend some periods for good reason, and lets the responsible authority grant exemptions in writing with required agreement.

278. Motho, go akaretsa le molaodi wa lephata la ditsˇhelete, yo o itemogelang tatlhegelo ka ntlha ya tlolo ya molao wa lephata la ditsˇhelete ka motho yo mongwe o ka busetsa madi a tatlhegelo ka tiro kwa kgotlatshekelong ya katlholo e e nonoﬁleng kgatlhanong le— (a) motho yo mongwe; le (b) motho mongwe le mongwe yo o neng a amega ka go itse mo tlolong. Katoloso ya paka ya go ikamanyo 279. (1) Molaodi wa lephata la ditsˇhelete o ka, ka lebaka le le utlwalang, katolosa paka nngwe le nngwe ya go ikamanya le, kgotsa paka e e neetsweng ke, kabelo ya molao wa lephata la ditsˇhelete, ntle le kabelo e molaodi wa lephata la ditsˇhelete a tshwanetseng go ikamanya le yona. (2) Molaodi wa lephata la ditsˇhelete o ka dumelela katoloso go ya ka karolotlaleletso (1) go feta gangwe, o ka dira jalo pele ga kgotsa morago ga nako ya ikamanyo e sena go feta kgotsa paka e e neetsweng e sena go fela. Mabaka a dilaesense 5 10 15 20 25 280. (1) Laesense e ka abelwa go ya ka mabaka a a tsepamisitsweng mo laesenseng kgotsa mo kitsisong ya kabelo kgotsa thebolo ya laesense e e neetsweng moabelwalaesense. (2) Tshekego, phimolo kgotsa phediso ya laesense go ya ka molao wa lephata la ditsˇhelete e ka nna go ya ka mabaka a a tsepamisitsweng mo kitsisong ya tshekego, phimolo kgotsa phediso e e neilweng moabelwalaesense. 30 (3) Tlolo ya lebaka go ya ka karolotlaleletso (2) ga e ame kemiso, phimolo kgotsa phediso ya laesense. (4) Mo karolong eno, kaelo go laesense e tshwanetse go tseelwa gore e akaretsa kaelo go tumelelo, tumalano, thebolo kgotsa tetlelelo ya mofuta mongwe le mongwe go ya ka molao wa lephata la ditsˇhelete. 35 Dikgololo 281. (1) Bothati jo rwalang maikarabelo a molao wa lephata la ditsˇhelete bo ka, ka go kwala le ka tumalano ya molaodi yo mongwe wa lephata la ditsˇhelete, golola motho mongwe le mongwe kgotsa maemo a batho mo kabelong e e tsepamisitsweng ya molao wa lephata la ditsˇhelete ntle le fa bo tseela gore go abelana ka kgololo— (a) go tla nna kgatlhanong le dikgatlhego tsa setsˇhaba; kgotsa (b) go ka gobelela phitlhelelo ya maikaelelo a molao wa lephata la ditsˇhelete. (2) Karolotlaleletso (1) e diriswa mo go abeleng dikgololo fa molao wa lephata la ditsˇhelete o sa tlamele ka thata ya go neelana ka dikgololo. (3) Fa molao wa lephata la ditsˇhelete o tlamela ka thata ya go neelana ka dikgololo, bothati jo bo rwalang maikarabelo bo tshwanetse— (a) go neelana ka kgololo go ya ka dikabelo tse di maleba tsa molao wa lephata la ditsˇhelete; le 40 45 50 This gazette is also available free online at www.gpwonline.co.za
252
No. 41060
Verify source ↗

AI-assisted research summary: The responsible authority must publish each exemption. A financial sector regulator’s notification or need for concurrence can be waived if the other regulator, or the Reserve Bank, agrees in a memorandum of understanding or otherwise.

252 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 250 (b) when deciding whether to grant an exemption, comply with the requirements of subsection (1) in addition to any requirements speciﬁed in the ﬁnancial sector law. (4) The responsible authority must publish each exemption. Requirements for notiﬁcation and concurrence 282. (1) If this Act provides that a ﬁnancial sector regulator must notify the other ﬁnancial sector regulator of a particular matter, the notiﬁcation is not required if the other regulator has agreed, in a section 77 memorandum of understanding or otherwise, that— (a) (b) failure to provide the notice does not prejudice the achievement of its objective; and the notiﬁcation is unnecessary. (2) If this Act provides that a ﬁnancial sector regulator may not take a particular action without the concurrence of the other ﬁnancial sector regulator, the concurrence is not required if the other regulator has agreed, in a section 77 memorandum of understanding or otherwise, that— (a) action of the relevant kind does not prejudice the achievement of its objective; and its concurrence is unnecessary. (b) (3) If this Act provides that a ﬁnancial sector regulator may not take a particular action without the concurrence of the Reserve Bank, the concurrence is not required if the Reserve Bank has agreed, in a memorandum of understanding or otherwise, that the concurrence is unnecessary. Arrangements for engagements with stakeholders
283
Each of the ﬁnancial sector regulators and the Ombud Council must establish
Verify source ↗

AI-assisted research summary: Financial sector regulators and the Ombud Council must set up arrangements to support consultation and exchange of information with financial institutions and customers on matters of mutual interest.

283. Each of the ﬁnancial sector regulators and the Ombud Council must establish to arrangements to facilitate consultation and the exchange of and give effect information with ﬁnancial institutions, ﬁnancial customers, and prospective ﬁnancial customers on matters of mutual interest. Records and entries in books of account admissible in evidence
284
In any proceedings in terms of, or in relation to, a ﬁnancial sector law, the records
Verify source ↗

AI-assisted research summary: In proceedings under or related to a financial sector law, certain records and books of account may be used as evidence.

284. In any proceedings in terms of, or in relation to, a ﬁnancial sector law, the records and books of account of a ﬁnancial institution, and of a person who is engaged by a ﬁnancial institution to perform a control function, are admissible as evidence of the matters, transactions and accounts recorded therein. Immunities
285
The State, the Minister, the Reserve Bank, the Governor and Deputy Governors,
Verify source ↗

AI-assisted research summary: Several listed public and regulatory actors are not liable for loss or damage caused by good-faith decisions or actions taken under a financial sector law.

285. The State, the Minister, the Reserve Bank, the Governor and Deputy Governors, a ﬁnancial sector regulator, a member of the Executive Committee, the Prudential Committee, a member of a subcommittee of the Prudential Authority or the Financial Sector Conduct Authority, a member of the Tribunal, the Ombud Council, a member of the Ombud Board, an employee of the State, a board member or officer of the Reserve Bank, a staff member of a ﬁnancial sector regulator, a staff member of the Reserve Bank, a person appointed by a ﬁnancial sector regulator or the Reserve Bank to exercise a power or perform a function or duty in terms of a ﬁnancial sector law is not liable for, or in respect of, any loss or damage suffered or incurred by any person arising from a decision taken or action performed in good faith in the exercise of a function, power or duty in terms of a ﬁnancial sector law. Notices to licensees 286. (1) A notice in terms of, or relating to, a ﬁnancial sector law to a person who is or was licensed in terms of a ﬁnancial sector law must be served on, or given to— (a) (b) the person; or if the person cannot be found after reasonable inquiry, some other person apparently involved in the management or control of a place where the person carries or carried on the licensed activities. 5 10 15 20 25 30 35 40 45 50 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 253 251 (b) fa bo swetsa ka go neelana ka kgololo, go ikamanya le ditlhokego tsa karolotlaleletso (1) mo godimo ga ditlhokego dingwe le dingwe tse di tsepamisitsweng mo molaong wa lephata la ditsˇhelete. (4) Bothati jo bo rwalang maikarabelo bo tshwanetse go phasalatsa kgololo nngwe le nngwe. Ditlhokego tsa kitsiso le tumalano 282. (1) Fa Molao ono o tlamela gore molaodi wa lephata la ditsˇhelete o tshwanetse go itsise molaodi yo mongwe wa lephata la ditsˇhelete ka ga morero o o rileng, kitsiso ga e tlhokege fa molaodi yo mongwe a dumetse, mo karolong 77 ya memorantamo wa tumalano kgotsa ka gongwe, gore— (a) go palelwa ke go tlamela ka kitsiso ga go gobelele phitlhelelo ya maikaelelo a ona; le (b) kitsiso ga e tlhokagale. (2) Fa Molao ono o tlamela gore molaodi wa lephata la ditsˇhelete o ka se dire tiro epe ntle le tumalano ya molaodi yo mongwe wa lephata la ditsˇhelete, tumalano ga e tlhokege fa molaodi yo mongwe a dumetse, mo karolong 77 ya memorantamo wa tumalano kgotsa ka gongwe, gore— (a) (b) tiro ya mofuta o o maleba ga e gobelele phitlhelelo ya maikaelelo a bona; le tumalano ya bona ga e tlhokagale. (3) Fa Molao ono o tlamela ka gore molaodi wa lephata la ditsˇhelete o ka se dire tiro epe ntle le tumalano ya Banka ya Resefe, tumalano ga e tlhokagale fa Banka ya Resefe e dumetse, mo memorantamong wa tumalano kgotsa ka gongwe, gore tumalano ga e tlhokagale. Dithulaganyo mabapi le ditherisano le batsayakarolo 5 10 15 20
283
Mongwe le mongwe wa balaodi ba lephata la ditsˇhelete le Khansele ya Ombud
Verify source ↗

AI-assisted research summary: Officials of the financial department and the Ombud Council must set up and use arrangements that make consultations and information-sharing with interested stakeholders easier.

283. Mongwe le mongwe wa balaodi ba lephata la ditsˇhelete le Khansele ya Ombud o tshwanetse go tlhoma le go tsenya mo tirisong dithulaganyo tsa go nolofatsa ditherisano le, le thefosano ya tshedimosetso le, batsayakarolo ba kgatlhego e e tshwanang. 25 Direkoto le dikwadiso mo dibukeng tsa go rwala maikarabelo a a amogelwang khaonto tse di amogelesegang jaaka bosupi 30
284
Mo ditsamaisong dingwe le dingwe go ya ka, kgotsa mabapi le, molao wa
Verify source ↗

AI-assisted research summary: Records and account books of a financial institution, and of a person used by it to manage work, may be accepted as evidence of the facts, acts, and accounts recorded in them.

284. Mo ditsamaisong dingwe le dingwe go ya ka, kgotsa mabapi le, molao wa lephata la ditsˇhelete, direkoto le dibuka tsa akhaonto tsa setheo sa ditsˇhelete, le tsa motho yo o diriswang ke setheo sa ditsˇhelete go dira tiro ya go laola, di amogelesega jaaka bosupi jwa dintlha, ditiro le diakhaonto tse di rekotilweng ka fa gare. Dikgololo
285
Puso, Tona, Banka ya Resefe, Mmusisi le Batlatsammusisi, molaodi wa lephata
Verify source ↗

AI-assisted research summary: Certain listed public and Reserve Bank officials are not liable for loss or damage caused by good-faith decisions or acts done under the financial sector law.

285. Puso, Tona, Banka ya Resefe, Mmusisi le Batlatsammusisi, molaodi wa lephata la ditsˇhelete, leloko la Komiti Khuduthamaga, Komiti ya Tlhokomelo, leloko la komiti ya Bolaodi jwa Tlhokomelo, Bolaodi jwa Boitshwaro jwa Lephata la Ditsˇhelete, leloko la Lekgotla, Khansele ya Ombud, leloko la Boto ya Ombud, modiredi wa Puso, Banka ya Resefe, leloko la leloko la boto kgotsa motlhankedi wa Banka ya Resefe, badirimmogo ba Banka ya Resefe, ga ba rwale maikarabelo a, kgotsa mabapi le, tatlhegelo nngwe le nngwe kgotsa kgobalo e e bonweng kgotsa itemogetsweng ke motho mongwe le mongwe ka ntlha ya tshwetso e e tserweng kgotsa tiro e e dirilweng ka mowa o montle mo go diragatseng tiro kgotsa thata go ya ka molao wa lephata la ditsˇhelete. Kitsiso go baabelwadilaesense 286. (1) Kitsiso go ya ka, kgotsa e e amanang le, molao wa lephata la ditsˇhelete go motho yo o kgotsa yo o neng a abetswe laesense go ya ka molao wa lephata la ditsˇhelete e tshwanetse go neelwa go, kgotsa go newa— (a) motho; kgotsa (b) fa motho a sa kgone go ﬁtlhelelwa morago ga patlisiso e e tseneletseng, motho mongwe yo o kileng a amega mo tsamaisong kgotsa taolong ya lefelo leo motho a dirang kgotsa a dirileng ditiro tsa laesense. 35 40 45 50 This gazette is also available free online at www.gpwonline.co.za
254
No. 41060
Verify source ↗

AI-assisted research summary: This section requires certain financial-sector publications to be treated as publication in the Register, and it gives the Minister powers to issue guidelines and make regulations subject to consultation and publication steps.

254 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 252 (2) For the purposes of a ﬁnancial sector law, service in terms of subsection (1)(b) is effective service. Publication requirements in ﬁnancial sector laws 287. (1) A requirement in terms of a ﬁnancial sector law to publish a document or information, including a requirement to publish it in the Gazette, must be read as a requirement also to publish the document or information in the Register. 5 (2) The document or information may also be published on the website of the person required to publish it, or in other effective ways. (3) This section does not require publication of a draft of a document in the Register. Part 5 Regulations and Guidelines Regulations and guidelines 288. (1) The Minister may make Regulations to facilitate the implementation of this Act, including Regulations— (a) (b) that must or may be prescribed in terms of this Act; to provide for other procedural or administrative matters that are necessary to implement the provisions of this Act. (2) A requirement in terms of a ﬁnancial sector law or the Interpretation Act (Act No. 33 of 1957), to publish Regulations in the Gazette must be read as a requirement to publish the Regulations also in the Register. (3) (a) The Minister may issue guidelines for the disclosure of material interests contemplated in sections 49, 72, 193 and 226 to provide guidance to persons who are required to disclose material interests in terms of those sections. (b) Guidelines issued in terms of paragraph (a) do not divest persons who are required to disclose a material interest in terms of sections 49, 72 193 and 226 from their duty to properly apply their minds and disclose all material interests. (4) The Minister may not make a Regulation unless the Minister— (a) has published— 10 15 20 25 (i) a draft of the Regulation; (ii) a statement explaining the need for and the intended operation of the 30 Regulation; (iii) a statement of the expected impact of the Regulation; (iv) a notice inviting submissions in relation to the Regulation and stating where, how and by when submissions are to be made; and (b) has, once submissions referred to in paragraph (a)(iv) have been received and 35 considered, submitted to Parliament, while it is in session,— the documents mentioned in paragraph (a)(i) to (iv); and (i) (ii) a report of the consultation process, which report must include— (aa) a general account of the issues raised in the submissions; and (bb) a response to the issues raised in the submissions. (5) (a) The period allowed for making submissions referred to in subsection (4)(a) must be at least six weeks. (b) The period allowed for Parliamentary scrutiny referred to in subsection (4)(b) must be at least 30 days while Parliament is in session. (6) If a Minister intends, whether or not as a result of a consultation process, to make a Regulation in a materially different form from the draft Regulation published in terms of subsection (4), the Minister must, before making the Regulation, repeat the process referred to in subsection (4). (7) If complying with subsection (4) or (6), in the opinion of the Minister, is likely to lead to prejudice to ﬁnancial customers or harm to the ﬁnancial system, or defeat the object of the proposed Regulation, the Minister must, before making the Regulation— (a) publish— (i) a draft of the Regulation and a statement explaining the need for and the intended operation of the Regulation; 40 45 50 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 255 253 (2) Mabapi le maitlhomo a molao wa lephata la ditsˇhelete, tirelo go ya ka karolotlaleletso (1)(b) ke tirelo e e nonoﬁleng. Ditlhokego tsa phasalatso mo melaong ya lephata la ditsˇhelete 287. (1) Tlhokego go ya ka molao wa lephata la ditsˇhelete ya go phasalatsa lokwalo kgotsa phasalatsa mo le Lokwalodikgannyeng la Puso, go tshwanetse go tseelwa jaaka tlhokego ya go phasalatsa lokwalo kgotsa tshedimosetso mo Rejisetareng. tshedimosetso, tlhokego akaretsa go go ya e 5 (2) Lokwalo kgotsa tshedimosetso e ka phasalatswa mo webesaeteng ya motho yo o tlhokang go e phasalatsa, kgotsa ka mekgwa mengwe e e nonoﬁleng. (3) Karolo eno ga e tlhoke phasalatso ya thalo ya lokwalo mo Rejisetareng. 10 Karolo 5 Melawana le dikaelo Melawana le dikaelo 288. (1) Tona o ka dira Melawana go nolofatsa go tsenngwa mo tirisong ga Molao ono, go akaretsa le Melawana— (a) e e tshwanetseng kgotsa e e ka neelwang go ya ka Molao ono; (b) go tlamela mabapi le merero e mengwe ya tsamaiso le taolo e e botlhokwa go tsenya mo tirisong dikabelo tsa Molao ono. (2) Tlhokego go ya ka molao wa lephata la ditsˇhelete kgotsa Interpretation Act (Molao 33 wa 1957), ya go phasalatsa Melawana mo Lokwalodikgannyeng la Puso e tshwanetse go tseelwa jaaka tlhokego ya go phasalatsa Melawana mo Rejisetareng. (3) (a) Tona o ka rebola dikaelo tsa go senola dikgatlhegelo tse di botlhokwa tse di tlhalositsweng mo dikarolong 49,72, 193 le 226, go tlamela ka kaelo go batho bao ba kopilweng go senola dikgatlhegelo tsa botlhokwa go ya ka dikarolo tseo. (b) Dikaelo tse di rebotsweng go ya ka temana (a) ga di amoge batho ba ba kopilweng go senola kgatlhegelo e e botlhokwa go ya ka dikarolo 49, 72, 193 le 226 ditiro tsa bona tsa go dirisa menagano ya bona ka nepagalo le go senola dikgatlhegelo tsotlhe tse di ka nnang botlhokwa. (4) Tona o ka se dire Melawana ntle le fa Tona— (a) a phasaladitse— (i) melawana e e thadilweng; (ii) polelo e e tlhalosang tlhokego ya le tiro e e ikaeletsweng ya Melawana; (iii) polelo ya kutlwalo e e solofetsweng ya Melawana; (iv) kitsiso e e laletsang ditlhagiso mabapi le Melawana le go itsise gore ditlhagiso di ka dirwa kae, jang le leng; le (b) a, morago ga fa ditlhagiso tse di kailweng mo temaneng (a)(iv) di sena go amogelwa le go sekasekwa, romelele Palamente, fa e kokoane— (i) dikwalo tse di kailweng mo temaneng (a)(i) go ﬁtlha go (iv); le (ii) pegelo ya dikgato tsa ditherisano, e e tla akaretsang— (aa) maikarabelo ka kakaretso a dintlha tse di tlhagisitsweng mo ditlhagisong; le 15 20 25 30 35 40 (bb) tsibogelo go dintlha tse di tlhagisitsweng mo ditlhagisong. (5) (a) Paka e e dumeletsweng ya go dira ditlhagiso tse di kailweng mo temaneng (4)(a) e tshwanetse go nna bonnye dibeke tse thataro. (b) Paka e e letleletsweng mabapi le tshekatsheko e e kailweng mo karolotlaleletsong 45 (4)(b) e tshwanetse go nna bonnye matsatsi a le 30 fa Palamente e kokoane. (6) Fa Tona a ikaelela, ka ntlha ya kgotsa eseng ka ntlha ya ditlamorago tsa kgato ya ditherisano, go dira Melawana ka mokgwa wa pharologano e kgolo go tswa go thalo ya Melawana e e phasaladitsweng go ya ka karolotlaleletso (4), Tona o tshwanetse, pele a dira Melawana, go boeletsa tsamaiso e e kailweng mo karolotlaleletsong (4). (7) Fa go ikamanngwa le karolotlaleletso (4) kgotsa (6), go ya ka mogopolo wa Tona, go ka lere kgobelelo mo barekeding ba ditsˇhelete kgotsa kotsi mo thulaganyong ya ditsˇhelete, kgotsa go fenya maikaelelo a Molawana o o tshitsintsweng, Tona o tshwanetse, pele a dira Molawana— (a) go phasalatsa— (i) Molawana o o thadilweng le polelo e e tlhalosang tlhokego ya le tiro e e ikaeletsweng ya Molawana; 50 55 This gazette is also available free online at www.gpwonline.co.za

Part

Part to fund the performance of speciﬁc functions under this Act and the relevant

235
Moamegi mongwe le mongwe mo kopong mabapi le tshekatshekogape ya
Verify source ↗

AI-assisted research summary: An unhappy applicant in a review application may take the court order to judicial review under PAJA or another relevant law.

235. Moamegi mongwe le mongwe mo kopong mabapi le tshekatshekogape ya tshwetso yo o sa kgotsofatswang ke taelo ya Lekgotla o ka dira ditsamaiso mabapi le thadiso ya boatlhodi ya taelo go ya ka Promotion of Administrative Justice Act kgotsa molao mongwe le mongwe o o maleba. Kgatelelo ya ditaelo tsa Lekgotla 236. (1) Moamegi mongwe le mongwe mo ditsamaisong mabapi le kopo ya tshekatsheko ya tshwetso o ka faela go mokwadisi kgatiso e e kanetsweng ya taelo e e dirilweng go ya ka karolo 234 fa— (a) ditsamaiso mabapi ise di somololwe kwa kgotlatshekelong kwa bokhutlong jwa paka ya tshimololo ya ditsamaiso tseo; kgotsa le go dirwa ga taelo di (b) ditsamaiso tseo di simolotse, ditsamaiso kwa bokhutlong di a dirwa. (2) Taelo, fa e faetswe, e na le tlamorago ya katlholo ya selegae, e bile e ka gatelelwa jaaka e kete e dirilwe semolao ke kgotlatshekelo eo. KGAOLO 16 MATLOTLO, MAKGETHWANA, LE DITSˇHELETE Karolo 1 Dituediso le Makgethwana 5 10 15 20 25 30 35 40 Dituediso le makgethwana 237. (1) (a) Mokgatlho wa lephata la ditsˇhelete o ka duedisa tuelo go tsamaelana le Karolo eno go duelela tiragatso ya ditiro tse di rileng ka fa tlase ga Molao ono le melao ya lephata la ditsˇhelete e e maleba. (b) Makgethwana a ka duediswa ke mokgatlho wa lephata la ditsˇhelete go tsamaelana le Karolo eno, ka puisommogo le molawana o o nayang maatla a go duedisa lekgethwana, go duelela ditiro tsa mokgatlho wa lephata la ditsˇhelete. 45 50 This gazette is also available free online at www.gpwonline.co.za
224
No. 41060
Verify source ↗

AI-assisted research summary: Financial sector bodies must prepare annual budgets and fee/levy proposals, submit them to the Minister, and follow approval rules and limits.

224 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 222 (2) A ﬁnancial sector body must publish fees that have been determined and levies that have been imposed in the Register and on its website. (3) Fees and levies are payable to the ﬁnancial sector body at the time speciﬁed by the ﬁnancial sector body, or at a time agreed to by the ﬁnancial sector body. (4) Different fees may be determined and different levies may be imposed for different 5 types or categories of persons or supervised entities. Fees and levies to be debts 238. (1) A fee or levy payable to a ﬁnancial sector body in terms of section 237 is a debt due to the ﬁnancial sector body. (2) A ﬁnancial sector body may recover the amount of a debt due in terms of this 10 section by way of a judicial process in a competent court. Budget, fees and levies proposals 239. (1) For each ﬁnancial year, each ﬁnancial sector body must prepare and adopt— (a) a budget in accordance with section 248 that includes an estimate of its expenditure; (b) a proposal for the fees that will be charged and levies that will be imposed by the ﬁnancial sector body; and (c) projected estimates of its expenditure for next 2 ﬁnancial years. (2) A proposal for levies may include a proposal for one or more special levies, and in that case, the estimate of expenditure must include an estimate for the special expenditure in relation to a special levy proposal. (3) An estimate of expenditure for a ﬁnancial year may include provision for one or more reserves, but the total accumulated reserves included in the estimate of expenditure may not exceed 15% of the total estimated expenditure, excluding the reserves. (4) The ﬁnancial sector body must take into account submissions made in respect of the budget as well as the fees and levies proposals, which it receives in terms of section 240. (5) The ﬁnancial sector body must submit the ﬁnalised budget, together with the fees and levies proposals, to the Minister. 15 20 25 (6) The Minister must be allowed a period of at least 30 days to consider the proposals 30 and provide comments, if any. (7) In respect of the fees and levies proposals for the ﬁrst ﬁnancial year following the commencement of this section, the Minister must approve the proposals for all the ﬁnancial sector bodies. (8) In respect of the Tribunal, the Minister must approve the fees and levies proposals 35 for any ﬁnancial year following the commencement of this section. (9) (a) In respect of ﬁnancial sector bodies other than the Tribunal, for any ﬁnancial year other than when subsection (7) applies, the Minister must approve the fees or levies proposals, if the fees or levies proposals are based on an estimate of expenditure in excess of the amount calculated as— previous year basis x 1.025 x (current index ÷ previous index). (b) For the purposes of paragraph (a)— ‘‘current index’’ means the value of the index at the date the amount is to be indexed, or if the value is not available, the latest available value for the purposes of the preparation of fees and levies proposals for the current ﬁnancial year; ‘‘index’’ means the Consumer Price Index, as published by Statistics South Africa; ‘‘previous index’’ means the value of the index that was used for the value of the ‘‘current index’’ in the fees and levies proposals prepared for the previous ﬁnancial year; and 40 45 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 225 223 (2) Mokgatlho wa lephata la ditsˇhelete o tshwanetse go phasalatsa dituelo tse di tlhomamisitsweng le makgethwana a a duediswang mo Rejisetareng le mo webesaeteng ya ona. (3) Dituelo le makgethwana di duelwa kwa mokgatlhong wa lephata la ditsˇhelete kgotsa ka nako e e dumetsweng ke mokgatlho wa lephata la ditsˇhelete. 5 (4) Dituelo tse di farologaneng di ka tlhomamiswa le makgethwana a ka duediswa mabapi le mefuta e e farologaneng kgotsa ditlhopha tsa batho kgotsa ditheo tse di tlhokometsweng. Dituediso le makgethwana tse di nnang molato 238. (1) Tuelo kgotsa lekgethwana tse di duelwang mokgatlho wa lephata la ditsˇhelete 10 go ya ka karolo 237 ke molato o o duelwang go mokgatlho wa lephata la ditshelete. (2) Mokgatlho wa lephata la ditsˇhelete o ka ﬁtlhelela madi a molato a a tshwanetseng go duelwa go ya ka karolo eno go ya ka mokgwa wa tsamaiso ya molao kwa kgotlatshekelong e e nang le bokgoni. Ditshitsinyo tsa tekanyetsokabo, dituediso le makgethwana 239. (1) Mabapi le ngwaga mongwe le mongwe wa ditsˇhelete, mokgatlho mongwe le mongwe wa lephata la ditsˇhelete o tshwanetse go baakanya le go amogela— (a) (b) (c) tekanyetsokabo go tsamaelana le karolo 248 e e akaretsang tekanyetso ya ditshenyegelo tsa ona; tshitsinyo mabapi le dituelo tse di tla duediswang le makgethwana a a tla pateletswang ke mokgatlho wa lephata la ditsˇhelete; le tekanyetso e e bonelwang pele ya ditshenyegelo tsa ona mo dingwageng tse pedi tse di tlang tsa ditsˇhelete. (2) Tshitsinyo mabapi le lekgethwana le le kgethegileng le le esi kgotsa go feta, e bile mo lebakeng leo, tekanyetso ya ditshenyegelo e tshwanetse go akaretsa tekanyetso ya tshenyegelo e e kgethegileng mabapi le tshitsinyo ya lekgethwana le le kgethegileng. le makgethwana e ka akaretsa tshitsinyo mabapi (3) Tekanyetso ya tshenyegelo mabapi le ngwaga wa ditsˇhelete e ka akaretsa kabelo ya matlolepeelothoko e le esi kgotsa go feta, mme palogotlhe ya matlolepeelothoko a a bonweng a a akareditsweng mo tekanyetsong ya ditshenyegelo e ka se fete 15% ya tshenyegelo yotlhe e e lekanyeditsweng , go sa akaretswe matlolepeelothoko. (4) Mokgatlho wa lephata la ditsˇhelete o tshwanetse go tsaya tsia ditlhagiso tse di dirilweng mabapi le tekanyetsokabo gape le ditshitsinyo tsa dituelo le makgethwana, ao a a amogelang go ya ka karolo 240. 15 20 25 30 (5) Mokgatlho wa lephata la ditsˇhelete o tshwanetse go romela tekanyetsokabo ya ona 35 e e feleleditsweng, mmogo le ditshitsinyo tsa dituelo le makgethwana, kwa go Tona. (6) Tona o tshwanetse go dumelelwa paka ya bonnye malatsi a le 30 go sekaseka ditshitsinyo le go tlamela ka ditshwaelo, fa di le teng. (7) Mabapi le ditshitsinyo tsa dituelo le makgethwana tsa ngwaga wa ntlha wa ditsˇhelete go latea tshimolo ya karolo eno, Tona o tshwanetse go rebola ditshitsinyo tsa mekgatlho yotlhe ya ditheo tsa ditsˇhelete. (8) Mabapi le Lekgotla, Tona o tshwanetse go rebola ditshitsinyo tsa dituelo le makgethwana a ngwaga mongwe le mongwe wa ditsˇhelete go latela tshimololo ya karolo eno. (9) (a) Mabapi le mekgatlho ya lephata la ditsˇhelete e mengwe ntle le Lekgotla, mabapi le ngwaga mongwe le mongwe wa ditsˇhelete ntle fa karolo (7) e diriswa, Tona o tshwanetse go rebola ditshitsinyo tsa dituelo lkgotsa makgethwana, fa ditshitsinyo tsa dituelo kgotsa makgethwana di ikaegile ka tekanyetso ya ditshenyegelo tsa tlaleletso go thotlhwa e e badilweng jaaka— 40 45 motheo wa ngwagatlola × 1.025 × (tshupanekelo ya gajaana ÷ tshupanekelo e e 50 (b) Mabapi le maitlhomo a temana (a)— fetileng). ‘‘tshupanekelo ya gajaana’’ e kaya boleng jwa tshupanekelo ka letlha le tlhotlhwa e e elwang tlhoko, kgotsa fa boleng bo seyo, boleng jwa gajaana jo bo leng teng mabapi le maitlhomo a go baakanya ditshitsinyo tsa dituelo le makgethwana tsa ngwaga wa gajaana wa ditsˇhelete; ‘‘tshupanekelo’’ e kaya Tshupane ya Tlhotlhwa ya Badirisi, jaaka e phasaladitswe ke Statistics South Africa; le 55 This gazette is also available free online at www.gpwonline.co.za
226
No. 41060
Verify source ↗

AI-assisted research summary: A financial sector body may require levy-related information from a supervised entity, must assess and notify levy payment dates, and must handle instalment offers.

226 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 224 ‘‘previous year basis’’, for a ﬁnancial year, means the estimate of operating expenditure adopted in terms of this section for the ﬁnancial year before the year for which the calculation is being done. Consultation requirements 240. (1) Part 1 of Chapter 7, with the exception of section 100, applies with the necessary changes, to the adoption of the budget, the estimates of expenditure as well as the fees and levies proposals as provided for in section 239. 5 (2) The documents that must be published under section 98 include— (a) the budget, estimates of expenditure and the fees and levies proposals provided for in section 239 for the relevant ﬁnancial year; and 10 (b) an explanation by the ﬁnancial sector body of the budget, estimates of expenditure and fees and levies proposals, and of the variation of the budget, estimates of expenditure and the fees and levies proposals against the budget, estimates of expenditure and the fees and levies proposals adopted for the previous ﬁnancial year. Determinations of information required for assessment of levy 241. (1) A ﬁnancial sector body may, in writing, require a supervised entity to provide it with information relevant to any assessment of the supervised entity’s liability for any levy as speciﬁed in the requirement. (2) A requirement in terms of subsection (1) may be published in the Register or provided to the supervised entity from whom information is required, and must specify the manner in which, and the date by when, the information must be provided. (3) If— (a) (b) the supervised entity fails or refuses to comply with the requirement issued in terms of subsection (1); or the information provided by the supervised entity is incomplete, incorrect or misleading, the supervised entity, and each director or member of the governing body of the supervised entity, are liable to an administrative penalty under Chapter 13. Assessments of levy 15 20 25 30 242. (1) A ﬁnancial sector body must issue to each supervised entity that is liable to pay a levy for the ﬁnancial year, an assessment of a levy payable by the supervised entity. (2) The assessment notice issued to a supervised entity must state the date on which the levy is due and must be paid, which period must not be less than 30 days from the date of receipt of the notice of assessment by the supervised entity. 35 Payment of fee or levy by instalments 243. (1) A person who has been charged a fee, or a supervised entity who has been charged a levy, may offer to pay the fee or levy by speciﬁed instalments, and if an offer is made, the ﬁnancial sector body must— 40 (a) accept the offer; (b) accept a modiﬁed offer; or (c) reject the offer, and must notify the person who made the offer accordingly. This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 227 225 ‘‘tshupanekelo e e fetileng’’ e kaya boleng jwa tshupane jo bo dirisitsweng mabapi le boleng jwa ‘‘tshupanekelo ya ga jaana’’ mo ditshitsinyong tsa dituelo le makgethwana tse di baakanyeditsweng ngwagatlola wa ditsˇhelete; le ‘‘motheo wa ngwagatlola’’, mabapi le ngwaga wa ditsˇhelete, o kaya tekanyetso ya ditshenyegelo tsa tiro tse di amogetsweng go ya ka karolo eno mabapi le ngwaga wa ditsˇhelete pele ga ngwaga o palelo e dirwang ka ona. Ditlhokego tsa therisano 240. (1) Karolo 1 ya Kgaolo 7, ntle le karolo 100, e diriswa le diphetogo tse di tlhokegang, mo kamogelong ya tekanyetsokabo, ditekanyetso tsa ditshenyegelo gape le ditshitsinyo tsa dituelo le makgethwana jaaka di tlametswe mo karolong 239. (b) (a) (2) Dikwalo tse di tshwanetseng go phasalatswa ka fa tlase ga karolo 98 di akaretsa— tekanyetsokabo, tekanyetso ya ditshenyegelo le ditshitsinyo tsa dituelo le makgethwana tse di tlametsweng mo karolong 239 mabapi le ngwaga wa ditsˇhelete o o maleba; le tlhaloso ka mokgatlho wa lephata la ditsˇhelete ya tekanyetsokabo, tekanyetso ya ditshenyegelo le ditshitsinyo tsa dituelo le makgethwana, le ya phapaano ya tekanyetsokabo, tekanyetso ya ditshenyegelo le ditshitsinyo tsa dituelo le makgethwana kgatlhanong le tekanyetsokabo, tekanyetso ya ditshenyegelo le ditshitsinyo tsa dituelo le makgethwana tse di amogetsweng mabapi le ngwagatlola wa ditsˇhelete. Ditlhomamiso tsa tshedimosetso e e tlhokegang mabapi lekgethwana le tshekatsheko ya 241. (1) Mokgatlho wa lephata la ditsˇhelete o ka, ka go kwala, lopa setheo se se tlhokometsweng go o tlamela ka tshedimosetso e e malebana le tekanyetso nngwe le nngwe ya go rwala maikarabelo ga setheo se se tlhokometsweng mabapi le lekgethwana lengwe le lengwe jaaka go tsepamisitswe mo ditlhokegong. (2) Tlhokego go ya ka karolotlaleletso (1) e ka phasalatswa mo Rejisetareng kgotsa ya tlamelwa go setheo se se tlhokometsweng se tshedimosetso e tlhokwang mo go sona, e bile e tshwanetse go tsepamisa mokgwa o ka ona, tshedimosetso e tshwanetseng go tlamelwa. (3) Fa— (a) (b) setheo se se tlhokometsweng se palelwa kgotsa se gana go ikamanya le ditlhokego tse di phasaladitsweng go ya ka karolotlaleletso (1); kgotsa tshedimosetso e e tlametsweng ke setheo se se tlhokometsweng e sa felela, e fosagetse kgotsa e timetsa, Setheo se se tlhokometsweng, le mokaedi mongwe le mongwe kgotsa leloko la mokgatlho o o busang wa setheo se se tlhokometsweng, ba tshwanetswe ke kotlhao ya tsamaiso ka fa tlase ga Kgaolo 13. Tshekatsheko ya lekgethwana 242. (1) Mokgatlho wa lephata la ditsˇhelete o tshwanetse go rebolela setheo sengwe le sengwe se se tlhokometsweng se se tshwanetseng go duela lekgethwana la ngwaga wa ditsˇhelete tekanyetso ya lekgethwana e e duelwang ke setheo se se tlhokometsweng. (2) Kitsiso ya tekanyetso e e reboletsweng setheo se se tlhokometsweng e tshwanetse go tlhagisa letlha le lekgethwana le tshwanetseng go duelwa ka lona, leo paka ya lona e sa tshwanelang go nna malatsi a le kwa tlase ga a le 30 go tloga ka letlha la kamogelo ya kitsiso ya tekanyetso ka setheo se se tlhokometsweng. Tuelelo ya tuediso kgotsa lekgethwana ka dikarolotuelo 243. (1) Motho yo o duediswang tuelo, kgotsa setheo se se tlhokometsweng se se duediswang lekgethwana, o ka ipofa go duela tuela kgotsa lekgethwana ka dikarolotuelo tse di tsepamisitsweng, e bile fa neelo e dirilwe, setheo sa lephata la ditsˇhelete se tshwanetse go— (a) amogela neelo; (b) amogela neelo e e fetotsweng; kgotsa (c) go se amogele neelo, ebile se tshwanetse go itsise motho yo o dirileng neelo, ka tshwanelo. 5 10 15 20 25 30 35 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za
228
No. 41060
Verify source ↗

AI-assisted research summary: This section sets deadlines and interest rules for paying fees and levies, allows instalment offers, lets a financial sector body grant fee exemptions on application, and requires certain fee and levy money to be collected into approved bank accounts.

228 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 226 (2) A person who wishes to make an offer to pay a fee or levy by instalments must make an offer— (a) immediately after being notiﬁed of the fee or levy charged, if the fee or levy must be paid within 14 days after the date on which notiﬁcation is received; or (b) at least 14 days before the date on which the fee or levy must be paid, if 5 paragraph (a) does not apply. (3) The ﬁnancial sector body must notify the person who made an offer in terms of subsection (1) of its decision— (a) immediately after receipt of the offer, in respect of an offer referred to in subsection (2)(a); or 10 (b) within seven days after the receipt of the offer, in respect of an offer referred to in subsection (2)(b). Interest on late or non-payment of fees and levies 244. (1) If a fee or levy is not paid, or not paid in full, within the period speciﬁed for payment, and an offer to pay the fee or levy by instalments has not been accepted as referred to in section 243(1)(a) or (b), the person liable to pay the fee or levy in question must pay interest at the rate referred to in subsection (2), on the amount of the fee or levy that remains unpaid 30 days after the due date. (2) Interest due and payable on an outstanding fee or levy amount must be calculated based on the interest rate prescribed for the time being in terms of the Prescribed Rate of Interest Act, 1975 (Act No. 55 of 1975). (3) Interest charged is a debt due to the ﬁnancial sector body, and may be recovered by a judicial process in a competent court. Exemption from fee 245. (1) A ﬁnancial sector body may, on application by a person who is liable to pay a fee, exempt the person from the payment of a fee, or a part of a fee, to the extent and subject to conditions determined by the ﬁnancial sector body. (2) An application referred to in subsection (1) must include the particulars determined by the ﬁnancial sector body. 15 20 25 (3) A ﬁnancial sector body may only grant an exemption from the payment of a fee, 30 or a part of a fee, for sound reasons. Management of fees and levies 246. (1) Fees determined in accordance with section 237(1)(a), and interest accrued on fees in terms of section 244 must be collected by the ﬁnancial sector body and paid into a bank account designated for that purpose, which is in the name and control of the ﬁnancial sector body. (2) Levies imposed in accordance with section 237(1)(b), and interest accrued on levies in term of section 244 must be collected by the Financial Sector Conduct Authority and paid into a bank account designated for that purpose, which is in the name and control of the Financial Sector Conduct Authority. (3) Each ﬁnancial sector body’s allocation of the levies collected contemplated in subsection (2) must be transferred to the ﬁnancial sector body’s designated account in accordance with a payment schedule agreed between the ﬁnancial sector body and the Financial Sector Conduct Authority. 35 40 (4) The designated bank accounts referred to in subsections (1) to (3) must be 45 approved by the National Treasury. This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 229 227 (2) Motho yo o batlang go dira thulaganyo ya go duela tuelelo kgotsa lekgethwana ka dikarolotuelo o tshwanetse go rulaganya— (a) ka bonako morago ga go itsisiwe ka ga tuelelo kgotsa lekgethwana le le tshwanetseng go duelwa, fa tuelelo kgotsa lekgethwana le tshwanetse go duelwa mo matsatsing a le 14 morago ga letlha le kitsiso e amogetsweng ka lona; kgotsa (b) bonnye matsatsi a le 14 pele ga letlha le tuelelo kgotsa lekgethwana le tshwanetseng go duelwa ka lona, fa temana (a) e sa diragatswe. (3) Mokgatlho wa lephata la ditsˇhelete o tshwanetse go itsise motho yo o dirileng neelo go ya ka karolotlaleletso (1) ka ga tshwetso ya ona— (a) ka bonako morago ga go amogela neelo, mabapi le neelo e e kailweng mo 5 10 karolotlaleletsong (2)(a); kgotsa (b) mo malatsing a le supa morago ga go amogela neelo, mabapi le neelo e e kailweng mo karolotlaleletsong (2)(b). Morokotso mo tuelelong e e thari kgotsa e e sa dirwang le makgethwana 15 244. (1) Fa tuelelo kgotsa lekgethwana le sa duelwa, kgotsa le sa duelwa ka botlalo, mo nakong e e tsepamisitsweng mabapi le tuelelo, mme neelo ya go duelela tuelo kgotsa lekgetho ka dikarolotuelo e sa amogelwa jaaka go kailwe mo karolong 243(1)(a) kgotsa (b), motho yo o tshwanetseng go duela tuelo kgotsa lekgethwana le le umakwang o tshwanetse go duela morokotso ka kelo e e kailweng mo karolotlaleletsong (2), mo tlhotlhweng ya tuelelo kgotsa lekgethwana le le sa duelwang malatsi a le 30 morago ga letlha la bofelo. (2) Morokotso o o tshwanetseng go duelelwa le go duelwa mo tlhotlhweng ya tuelelo kgotsa lekgethwana e e tshwanetseng go duelwa o tshwanetse go balwa go tswa mo kelong ya morokotso e e neetsweng nakwana go ya ka Prescribed Rate of Interest Act, 1975 (Molao 55 wa 1975). (3) Morokotso o o duediswang ke sekoloto se se tshwanetseng go duelwa kwa mokgatlhong wa lephata la ditsˇhelete, e bile o ka busetswa ka ditsamaiso tsa boatlhodi kwa kgotlatshekelong e e nang le bokgoni. Kgololo mo go dueleng 245. (1) Mokgatlho wa lephata la ditsˇhelete o ka, ka kopo ka motho yo o tshwanetseng go duela tuelelo, golola motho mo go dueleng tuelelo, kgotsa karolo ya tuelelo, ka bogolo le go ya ka mabaka a a tlhomamisitsweng ke mokgatlho wa lephata la ditsˇhelete. (2) Kopo e e kailweng mo karolotlaleletsong (1) e tshwanetse go akaretsa dintlha tse di tlhomamisitsweng ke mokgatlho wa lephata la ditsˇhelete. (3) Mokgatlho wa lephata la ditsˇhelete o ka neelana fela ka kgololo mo go dueleng tuelelo, kgotsa karolo ya tuelelo, ka mabaka a a utlwagalang. Taolo ya dituediso le makgethwana 246. (1) Dituelelo tse di tlhomamisitsweng go tsamaelana le karolo 237(1)(a), le morokotso o o bonweng go tswa mo dituelelong go ya ka karolo 244 di tshwanetse go kgobokanngwa ke mokgatlho wa lephata la ditshelete le go duelwa mo akhaontong ya banka e e tlhometsweng maitlhomo ao, eo e leng mo leineng le mo taolong ya mokgatlho wa lephata la ditsˇhelete. (2) Makgethwana a a duediswang go tsamaelana le karolo 237(1)(b), le morokotso o o bonweng mo makgethwaneng go ya ka karolo 244 a tshwanetse go kgobokanngwa ke Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete le go duelwa mo akhaontong e e tlhometsweng maitlhomo ao, e e moleineng le mo taolong ya Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete. (3) Kabo ya makgethwana a a kgobokantsweng go latela karolotlaleletso (2) a mokgatlho mongwe le mongwe wa lephata la ditsˇhelete e tshwanetse go sutisetswa kwa akhaontong e e tlhometsweng mokgatlho wa lephata la ditshelete go tsamaelana le thulaganyo ya tuelelo e go dumalanweng ka yona magareng ga mokgatlho wa lephata la ditsˇhelete le Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete. (4) Diakhaonto tsa banka tse di kailweng mo dikarolotlaleletsong (1) go ﬁtlha go (3) di tshwanetse go rebolwa ke Matlotlo a Bosetsˇhaba. 20 25 30 35 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za
230
No. 41060
Verify source ↗

AI-assisted research summary: Financial sector bodies may use their money only for specified purposes, and several listed bodies must prepare budgets, reports, statements, and comply with public finance requirements.

230 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 228 Part 2 Finances Finances of ﬁnancial sector bodies 247. (1) The money of each ﬁnancial sector body consists of— (a) amounts received by the ﬁnancial sector body as fees and levies; (b) (c) funds accruing to the ﬁnancial sector body from any other source; and interest on amounts standing to the credit of the ﬁnancial sector body in an account. (2) The money of a ﬁnancial sector body may be applied only as follows: (a) To the general administrative and operating costs of the ﬁnancial sector body; (b) to exercise the powers, perform the functions, and fulﬁl the duties of the ﬁnancial sector body in terms of the ﬁnancial sector laws; and to repay amounts paid to it in error. (c) 5 10 Part 3 Budgeting, accounting, auditing and ﬁnancial reporting 15 Budgeting, accounting, auditing and ﬁnancial reporting 248. (1) The accounting authority of the Financial Sector Conduct Authority, the Ombud Council, the Office of the Pension Funds Adjudicator, and the Office for the Ombud for Financial Services Providers is the accounting authority for the designated bank account referred to in section 246(1), and has the duties referred to in Part 2 of Chapter 6 of the Public Finance Management Act. (2) The accounting authority of the Financial Sector Conduct Authority is the accounting authority for the designated bank account referred to in section 246(2), and has the duties referred to in Part 2 of Chapter 6 of the Public Finance Management Act. (3) In respect of the Prudential Authority, the Chief Executive Officer is responsible for accounting for the designated bank account referred to in section 246(1). (4) (a) The Financial Sector Conduct Authority, the Ombud Council, the Office of the Pension Funds Adjudicator, and the Office of the Ombud for Financial Services Providers must— 20 25 (i) prepare an annual budget in accordance with section 53 of the Public Finance Management Act and section 239 of this Act; 30 (ii) prepare an annual report and ﬁnancial statements in accordance with section 55 (iii) (iv) of the Public Finance Management Act; submit information as required in terms of section 54 of the Public Finance Management Act; and comply with Treasury Regulations, circulars, guidelines and practice notes in terms of the Public Finance Management Act. (b) The Tribunal, although it is not a public entity in terms of the Public Finance Management Act, must also comply with the requirements in paragraph (a). (5) (a) The Prudential Authority must prepare an annual budget and estimates of expenditure for the ﬁnancial year in accordance with section 239, and an annual report and ﬁnancial accounts in accordance with section 55. (b) The Chief Executive Officer is responsible for ensuring that the expenditure of the Prudential Authority is in accordance with its approved budget. (6) The Prudential Authority, the Tribunal, the Ombud Council, the Office of the Pension Funds Adjudicator, and the Office of the Ombud for Financial Services Providers must provide the Financial Sector Conduct Authority with its levies that will 35 40 45 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 231 229 Karolo 2 Matlotlo Matlotlo a mekgatlho ya lephata la ditsˇhelete 247. (1) Madi a mokgatlho mongwe le mongwe wa lephata la ditsˇhelete a na le— (a) madi a a amogetsweng ke mokgatlho wa lephata la ditsˇhelete jaaka dituelelo 5 le makgethwana; (b) matlole a a bonwang ke mokgatlho wa lephata la ditsˇhelete go tswa kwa motsweding mongwe le mongwe; le (c) morokotso mo ditlhotlhweng tse di leng mo dikoloto tsa mokgatlho wa lephata la ditsˇhelete mo akhaontong. (2) Madi a mokgatlho wa lephata la ditsˇhelete a ka diriswa fela jaana: (a) Mo tsamaisong ka kakaretso le mo ditshenyegelong tsa tiro tsa mokgatlho wa lephata la ditsˇheleteo; (b) go diragatsa dithata, go dira ditiro, le go diragatsa ditiro tsa mokgatlho wa lephata la ditsˇhelete go ya ka melao ya lephata la ditsˇhelete; le (c) go duela madi a o a duetsweng ka phoso. Kgaolo 3 Go dira tekanyetsokabo, tshupo ya matlotlo, boruni le pegelo ya tsa ditsˇhelete Go dira tekanyetsokabo, tshupo ya motlotlo, boruni le pegelo ya tsa ditsˇhelete 248. (1) Bothati jo bo rwalang maikarabelo Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete , Khansele ya Ombud, Oﬁsi ya Moatlhodi wa Matlole a Phensˇene, le Oﬁsi ya Ombud wa Batlamedi ba Ditirelo tsa Ditsˇhelete ke bothati jo bo rwalang maikarabelo mabapi le akhaonto ya banka e e tlhomilweng e e kailweng mo karolong 246(1), e bile bo dira ditiro tse di kailweng mo Karolong 2 ya Kgaolo 6 ya Public Finance Management Act. (2) Bothati jo bo rwalang maikarabelo a Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete ke bothati jo bo rwalang maikarabelo mabapi le akhaonto e e tlhomilweng ya banka e e kailweng mo karolong 246(2), e bile bo dira ditiro tse di kailweng mo Karolong 2 ya Kgaolo 6 ya Public Finance Management Act. (3) Mabapi le Bothati jwa Tlhokomelo, Motlhankedimogolo wa Khuduthamaga o rwla maikarabelo mabapi le go arabela mabapi le akhaonto ya banka e e kailweng mo karolong 246(1). (4) (a) Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete, Khansele ya Ombud, Oﬁsi ya Moatlhodi wa Matlole a Phensˇene, le Oﬁsi ya Ombud wa Batlamedi ba Ditirelo tsa Ditsˇhelete ba tshwanetse go— (i) (ii) (iii) (iv) baakanya tekanyetsokabo ya ngwaga go tsamaelana le karolo 53 ya Public Finance Management Act le karolo 239 ya Molao ono; baakanya pegelo ya ngwaga le dikanego go tsamaelana le karolo 55 ya Public Finance Management Act; romela tshedimosetso jaaka e tlhokwa go ya ka karolo 54 ya Public Finance Management Act; le ikamanya le Melawana ya Matlotlo, makwalotiko, dikaelo le dintlha tsa tiragats go ya ka Public Finance Management Act. (b) Lekgotla, le fa e se setheo sa setsˇhaba go ya ka Public Finance Management Act, le tshwanetse go ikamanya le ditlhokego tse di mo temaneng (a). (5) (a) Bothati jwa Tlhokomelo bo tshwanetse go baakanya tekanyetsokabo ya ngwaga le ditekanyetso tsa tshenyegelo ya ngwaga wa ditsˇhelete go tsamaelana le karolo 239, le pegelo ya ngwaga le dikarabelo tsa ditsˇhelete go tsamaelana le karolo 55. (b) Motlhankedimogolo wa Khuduthamaga o rwala maikarabelo a go netefatsa gore tshenyegelo ya Bothati jwa Tlhokomelo e go ya ka tekanyetsokabo ya jona e e rebotsweng. (6) Bothati jwa Tlhokomelo, Lekgotla, Khansele ya Ombud, Oﬁsi ya Moatlhodi wa Matlole a Phensˇene, le Oﬁsi ya Ombud wa Batlamedi ba Ditirelo tsa Ditsˇhelete ba tshwanetse go tlamela Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete ka makgethwana a ona a a tla dudiswang mabapi le tiro ya mokgatlho wa lephata la 10 15 20 25 30 35 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za

Part

Chapter 6 of the Public Finance Management Act.

232
No. 41060
Verify source ↗

AI-assisted research summary: Financial sector bodies must publish their annual budget, fees and levies, and include specified statements in annual reports.

232 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 230 be imposed for the operation of the ﬁnancial sector body two months prior to the start of a ﬁnancial year in respect of which the levies will be imposed. (7) In addition to the matters which must be included in the annual report and ﬁnancial statements of the Financial Sector Conduct Authority referred to in section 55 of the Public Finance Management Act, the annual report must set out and contain a statement showing— (a) the total number of supervised entities who paid levies imposed in accordance with section 237(1)(b); the total funds distributed from the designated bank account referred to in section 246(2) to the designated bank account of each ﬁnancial sector body referred to in section 246(1); and any other matter determined by the Minister. (b) (c) (8) In addition to the matters which must be included in the annual reports and ﬁnancial statements or ﬁnancial accounts of a ﬁnancial sector body referred to in subsections (4) and (5), the annual report of a ﬁnancial sector body must contain a statement showing— (a) (b) (c) (d) (e) the total number of persons who paid fees determined by that ﬁnancial sector body in the ﬁnancial year; the total number of supervised entities who paid levies imposed by that ﬁnancial sector body in that ﬁnancial year; the total fees collected by the ﬁnancial sector body; the total levies collected on behalf of and received by the ﬁnancial sector body; and any other matter determined by the Minister. 5 10 15 20 (9) A ﬁnancial sector body must publish its annual budget on their website, and must 25 publish its determined fees and imposed levies in the Register and on its website. Part 4 Application of Chapter to Tribunal Application of Chapter to Tribunal

Part

Part 5

256
No. 41060
Verify source ↗

AI-assisted research summary: This notice says the President assented to the Financial Sector Regulation Act, 2017, and it was published for general information.

256 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 CONTINUES ON PAGE 258 - PART 3 This gazette is also available free online at www.gpwonline.co.za Vol. 626 Cape Town Kaapstad 22 August 2017 No. 41060 PART 3 OF 5 THE PRESIDENCY MO-PRESIDENTE No. 853 22 August 2017 No. 853 22 August 2017 It is hereby notified that the President has as- sented to the following Act, which is hereby published for general information:— Mo go tsebiswa gore Mo-Presidente o dumetse molao o latelago, wona o tla gatiswa e le tsebi- so ya kakaretso:— Act No. 9 of 2017: Financial Sector Regula- tion Act, 2017 Nmr 9 ya 2017: Molao wa Taolo ya Lephata la Ditshelete , 2017 ISSN 1682-5843 41060 9 7 7 1 6 8 2 5 8 4 0 0 3 curethe is Prevention 0800-0123-22 HELPLINE: AIDS REPUBLIC OF SOUTH AFRICAGovernment Gazette

Part

PART 3 OF 5

258
No. 41060
Verify source ↗

AI-assisted research summary: The Minister must submit certain consultation documents and reports to Parliament, publish a consultation report with each Regulation, and meet minimum consultation periods.

258 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 254 (ii) a notice inviting submissions in relation to the Regulation and stating where, how and by when submissions are to be made; and (iii) a statement of the reasons why the delay involved in complying with subsections (4) and (6) is considered likely to lead to prejudice to ﬁnancial customers or harm to the ﬁnancial system, or defeat the object of the proposed Regulation; and 5 (b) submit to Parliament the documents mentioned in paragraph (a). (8) (a) The period allowed for making submissions referred to in subsection (7)(a)(ii) must be at least seven days. (b) The period allowed for submission to Parliament referred to in subsection (7)(b) 10 must be at least seven days, whether Parliament is in session or not. (c) The period referred to in paragraph (b) may run concurrently with the period referred to in paragraph (a). (9) The Minister must, after making a Regulation pursuant to subsections (7) and (8), within 30 days of making the Regulation, submit to Parliament a report of the consultation process referred to in subsections (13) to (15). (10) This section does not prevent the Minister from engaging in consultations in addition to those required in terms of this section. (11) In deciding whether to make a Regulation, the Minister must take into account all submissions received by the expiry of the period referred to in subsection (5)(a) or (8)(a) and any deliberations of Parliament. (12) A Regulation comes into effect— (a) on the date that it is published in the Register; or (b) if the Regulation provides that it comes into effect on a later date, on the later date. (13) With each Regulation, the Minister must publish a consultation report. (14) A consultation report must include— (a) a general account of the issues raised in the submissions made during the consultation; and (b) a response to the issues raised in the submissions. (15) If the Minister did not comply with subsection (4) or (6) for the reason stated in subsection (7), the consultation report must be published 30 days after the instrument was made and the report must include a statement of the reasons why the delay involved in complying, or complying fully, with subsection (4) or (6) was considered likely to lead to prejudice to ﬁnancial customers or harm to the ﬁnancial system, or defeat the object of the Regulation. Part 6 Amendments, repeals, transitional and saving provisions Interpretation

Part

Part 6

289
In this Part—
Verify source ↗

AI-assisted research summary: This section defines several terms used in the Part and sets consultation and publication duties for the Minister when making regulations.

289. In this Part— ‘‘Appeal Board’’ means the Appeal Board established by section 26A of the Financial Services Board Act; ‘‘Directorate of Market Abuse’’ means the Directorate of Market Abuse established by section 12 of the Insider Trading Act, 1998 (Act No. 135 of 1998) and continued in terms of the Securities Services Act, 2004 (Act No. 36 of 2004) and then the Financial Markets Act; ‘‘Enforcement Committee’’ means the Enforcement Committee established in terms of section 10A of the Financial Services Board Act or section 97 of the Securities Services Act, 2004 (Act No. 36 of 2004); ‘‘Financial Services Board’’ means the Financial Services Board as deﬁned in the Financial Services Board Act; and ‘‘Financial Services Board Act’’ means the Financial Services Board Act, 1990 (Act No. 97 of 1990). 15 20 25 30 35 40 45 50 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 259 255 (ii) kitsiso e e laletsang ditlhagiso mabapi le Molawana e bile e tlhagisa gore ditlhagiso di ka dirwa kae, jang le gore leng; le (iii) polelo ya mabaka a gore goreng tiego yago ikamanyeng le dikarolotlaleletso (4) le (6) e tseelwa gore eka tlisa kgobelelo mo barekeding ba ditsˇhelete kgotsa kotsi mo thulaganyong ya ditsˇhelete, kgotsa ya fenya maikaelelo a Molawana o o tshitsintsweng; le (b) go romelela Palamente dikwalo tse di kailweng mo temaneng (a). (8) (a) Nako e e letleletsweng ya go dira ditlhagiso tse di kailweng mo karolotlaleletsong (7)(a)(ii) e tshwanetse go nna bonnye malatsi a le supa. (b) Nako e e letleletsweng ya go romela ditlhagiso kwa Palamenteng jaaka go kailwe mo karolotlaleletsong (7)(b) e tshwanetse go nna bonnye malatsi a le supa, Palamente e ka tswa e kokoane kgotsa e sa kokoana. (c) Nako e e kailweng mo temaneng (b) e ka tsamaya ka nako e le nngwe le nako e e kailweng mo temaneng (a). (9) Tona o tshwanetse, morago ga go dira Molawana o o tsamaelanang le dikarolotlaleletso (7) le (8), mo malatsing a le 30 a go dira Molawana, go romelela Palamente pegelo ya kgato ya ditherisano e e kailweng mo dikarolotlaleletsong (13) go ﬁtlha go (15). (10) Karolo eno ga e thibele Tona mo go direng ditherisano mo godimo ga tse di tlhokegang go ya ka karolo eno. (11) Mo go swetseng ka ga go dira Molawana, Tona o tshwanetse go tsaya tsia ditlhagiso tsotlhe tse di amogetsweng ka letlha la bofelo la nako e e kailweng mo karolotlaleletsong (5)(a) kgotsa (8)(a) le dipuisano tsa Palamete. (12) Molawana o tsenngwa mo tirisong— (a) ka letlha le o phasaladitsweng mo Rejisetareng ka lona; kgotsa (b) fa Molawana o tlamela gore o tla tsenngwa mo tirisong ka letlha le le kwa moragonyana, ka letlha le le kwa moragonyana. (13) Mabapi le Molawana mongwe le mongwe, Tona o tshwanetse go phasalatsa pegelo ya ditherisano. (14) Pegelo ya ditherisano e tshwanetse go akaretsa— (a) boikarabelo ka kakaretso jwa dintlha tse di tlhagisitsweng mo ditlhagisong tse di dirilweng ka nako ya ditherisano; le tsibogelo go dintlha tse di tlhagisitsweng mo ditlhagisong. (b) (15) Fa Tona a sa ikamanya le karolotlaleletso (4) kgotsa (6) mabapi le mabaka a a boletsweng mo karolotlaleletsong (7), pegelo ya ditherisano e tshwanetse go phasalatswa mo malatsing a le 30 morago ga go dirwa ga sediriso e bile pegelo e tshwanetse go akaretsa polelo ya mabaka a gore goreng tiego e e nnileng teng mo go ikamanyeng, kgotsa mo go ikamanyeng ka botlalo, le karolotlaleletso (4) kgotsa (6) e tseetswe gore e bakile kgobelelo mo barekeding ba ditsˇhelete kgotsa kotsi mo thulaganyong ya ditsˇhelete, kgotsa e fentse maikaelelo a Molawana. Karolo 6 Ditlhabololo, diphediso, dikabelo tsa kgabaganyo le tshomarelo Tlhaloso
289
Mo Karolong eno—
Verify source ↗

AI-assisted research summary: This section defines several terms used in the statute, including the Market Abuse Directorate, the Board of Appeal, the Complaints Committee, the Financial Services Board, and the Financial Services Board Act.

289. Mo Karolong eno— jwa Tirisobotlhaswa ya Mmaraka’’ bo kaya Bokaedi ‘‘Boto ya Boikuelo’’ e kaya Boto ya Boikuelo e e tlhomilweng ke karolo 26A ya Financial Services Board Act; ‘‘Bokaedi jwa Tirisobotlhaswa ya Mmaraka jo bo tlhomilweng ke karolo 12 ya Insider Trading Act, 1998 (Molao 135 wa 1998) le go tsweletswa go ya ka Securities Services Act, 2004 (Molao 36 wa 2004) le Financial Markets Act ya nako eo; ‘‘Komiti ya Kgatelelo’’ e kaya Komiti ya Kgatelelo e e tlhomilweng go ya ka karolo 10A ya Financial Services Board Act kgotsa karolo 97 ya Securities Services Act, 2004 (Molao 36 wa 2004); ‘‘Boto ya Ditirelo tsa Ditsˇhelete’’ e kaya Boto ya Ditirelo tsa Ditsˇhelete jaaka e tlhalositswe mo Financial Services Board Act; le ‘‘Molao wa Boto ya Ditirelo tsa Ditsˇhelete’’ e kaya Financial Services Board Act, 1990 (Molao 97 wa 1990). 5 10 15 20 25 30 35 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za
260
No. 41060
Verify source ↗

AI-assisted research summary: This provision is a section heading for amendments and repeals, with no substantive rule shown in the provided text.

260 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Amendments and repeals 256
290
The Acts listed in Schedule 4 are amended or repealed as set out in that Schedule.
Verify source ↗

AI-assisted research summary: This section moves certain medical-scheme functions and prudential powers to the Council for Medical Schemes or the Financial Sector Conduct Authority, and it provides for related transitional transfers and record updates.

290. The Acts listed in Schedule 4 are amended or repealed as set out in that Schedule. Transitional provision in relation to medical schemes 291. (1) The functions of the Prudential Authority in relation to medical schemes and the associated powers and duties of the Prudential Authority are, to the extent determined by, and subject to any conditions determined by, the Minister, to be exercised by the Council for Medical Schemes instead of the Prudential Authority, but with the concurrence of the Prudential Authority. (2) The functions of the Financial Sector Conduct Authority in relation to medical schemes and the associated powers and duties of the Financial Sector Conduct Authority are, to the extent determined by, and subject to any conditions determined by, the Minister, to be exercised by the Council for Medical Schemes instead of the Financial Sector Conduct Authority, but with the concurrence of the Financial Sector Conduct Authority. (3) A determination in terms of subsection (1) or (2) must be published. (4) The concurrence of a ﬁnancial sector regulator in terms of subsection (1) or (2) to the exercise of a particular power or the performance of a particular function or duty is not required if the ﬁnancial sector regulator has agreed in writing that— (a) (b) the exercise of the power or the performance of the function or duty does not prejudice the achievement of its objective; and its concurrence is unnecessary. 5 10 15 20 Transitional prudential powers of Financial Sector Conduct Authority 292. (1) This section applies for the period of three years from the date on which this section comes into effect but the Minister may, by notice in the Gazette, determine a shorter or longer period. 25 (2) The power of the Prudential Authority to make prudential standards, to be complied with by the following ﬁnancial institutions, with respect to the safety and soundness of those ﬁnancial institutions and otherwise to achieve the objectives of the Prudential Authority, is to be exercised by the Financial Sector Conduct Authority: (a) Collective investment schemes as deﬁned in section 1(1) of the Collective 30 Investment Schemes Control Act, 2002 (Act No. 45 of 2002); (b) pension funds as deﬁned in section 1(1) of the Pension Funds Act; (c) friendly societies as deﬁned in section 1(1) of the Friendly Societies Act. (3) A prudential standard in terms of subsection (2) may only impose requirements that may be imposed under the speciﬁc ﬁnancial sector law relevant to the ﬁnancial institution concerned. 35 (4) The Financial Sector Conduct Authority may exercise its other powers in terms of ﬁnancial sector laws with respect to the ﬁnancial institutions referred to in subsection (2) to achieve the objective of the Prudential Authority. (5) Subsection (3) does not affect the powers of the Financial Sector Conduct 40 Authority in respect of a ﬁnancial institution. Transfer of assets and liabilities of Financial Services Board 293. (1) At the date on which this section comes into effect, the assets and liabilities of the Financial Services Board cease to be assets and liabilities of the Board and become assets and liabilities of the Financial Sector Conduct Authority without any conveyance, transfer or assignment. (2) A person or authority who, in terms of a law or of a trust instrument or in any other way is required to keep or maintain a database in relation to assets or liabilities must, and may without any application or otherwise, record in the database the transfer of the asset or liability in terms of subsection (1). 45 50 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 261 Ditlhabololo le diphediso 257
290
Melao e e neetsweng mo Sˇejuleng 4 e atlhabololwa kgotsa phimolwa jaaka go
Verify source ↗

AI-assisted research summary: Laws listed in Schedule 4 are amended or repealed as described in that Schedule.

290. Melao e e neetsweng mo Sˇejuleng 4 e atlhabololwa kgotsa phimolwa jaaka go tlhalositswe mo Sˇejuleng eo. Kabelo ya kgabaganyo mabapi le dikema tsa kalafo 291. (1) Ditiro tsa Bothati jwa Tlhokomelo mabapi le dikema tsa kalaﬁ le dithata tse di di patileng le ditiro tsa Bothati jwa Tlhokomelo, ka bogolo jo bo tlhomamisitsweng ke, le go ya ka mabaka mangwe le mangwe a a tlhomamisitsweng ke, Tona, di tshwanetse go diragatswa ke Khansele ya Dikema tsa Kalaﬁ e seng Bothati jwa Tlhokomelo, mme fela ka tumalano le Bothati jwa Tlhokomelo. (2) Ditiro tsa Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete mabapi le dikema tsa kalaﬁ le maatla le ditiro tse di di patileng tsa Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete, ka bogolo jo bo tlhomamisitsweng ke, le go ya ka mabaka mangwe le mangwe a a tlhomamisitsweng ke, Tona, di tshwanetse go diragatswa ke Khansele ya Dikema tsa Kalaﬁ e seng Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete, mme fela ka tumalano le Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete. (3) Tlhomamiso go ya ka karolotlaleletso (1) kgotsa (2) e tshwanetse go phasalatswa. (4) Tumalano ya bolaodi ja lephata la ditsˇhelete go ya ka karolotlaleletso (1) kgotsa (2) ya tiragatso ya thata e e rileng kgotsa go dirwa ga tiro e e rileng ga go tlhokege fa bolaodi jwa lephata la ditsˇhelete bo dumetse ka go kwala gore— (a) (b) tiragatso ya thata kgotsa go dirwa ga tiro ga go gobelele phitlhelelo ya maikaelelo a jona; le tumalano ya jona ga e tlhokege. Dithata tsa kgaba ganyo tsa tlhokomelo ya Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete 292. (1) Karolo eno e diriswa mo pakeng ya dingwaga tse tharo go simolola ka letlha la go tsenngwa mo tirisong ga karolo eno mme Tona o ka, ka kitsiso mo Lokwalodikgannyeng la Puso, tlhomamisa paka e khutshwane kgotsa e telele. (2) Thata ya Bothati jwa Tlhokomelo ya go dira maemo a tlhokomelo, eo ditheo tsa ditsˇhelete tse di latelang di tshwanetseng go ikamanya le yona, mabapi le tshireletsego le tlhomamo ya ditheo tseo tsa ditsˇhelete le go ﬁtlhelela maikaelelo a Bothati jwa Tlhokomelo, e tshwanetse go diragatswa ke Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete: 5 10 15 20 25 30 (a) Dikema tsa peeletsommogo jaaka di tlhalositswe mo karolong 1(1) ya Collective Investment Schemes Control Act, 2002 (Molao 45 wa 2002); (b) matlole a pensˇene jaaka a tlhalositswe mo karolong 1(1) ya Pension Funds 35 Act; (c) mekgatlho ya botsalano jaaka e tlhalositswe mo karolong 1(1) ya Friendly Societies Act. (3) Maemo a tlhokomelo go ya ka karolotlaleletso (2) a ka pateletsa fela ditlhokego tse di ka pateletswang ka fa tlase ga molao wa lephata la ditsˇhelete o o rileng o o maleba go setheo sa ditsˇhelete se se amegang. (4) Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete bo ka diragatsa dithata tsa jona tse dingwe go ya ka melao ya lephata la ditsˇhelete mabapi le ditheo tsa ditsˇhelete tse di kailwaeng mo karolotlaleletsong (2) go ﬁtlhelela maikaelelo a Bothati jwa Tlhokomelo. (5) Karolotlaleletso (3) ga e ame dithata tsa Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete mabapi le setheo sa ditsˇhelete. Tshutiso ya dithoto le melato ya Boto ya Ditirelo tsa Ditsˇhelete 293. (1) Ka letlha leo karolo eno e tsenngwang mo tirisong ka lona, dithoto le melato ya Boto ya Ditirelo tsa Ditsˇhelete di khutla go nna dithoto le melato ya Boto mme di nna dithoto le melato ya Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete ntle le thebolelo, tshutiso kgotsa kabo. (2) Motho kgotsa bothati jo, go ya ka molao kgotsa sediriso sa terasete kgotsa ka mokgwa ofe bo tlhokang go tshola kgotsa tshegetsa deithabeise mabapi le dithoto kgotsa melato bo tshwanetse, e bile bo ka ntle le tiriso kgotsa ka mokgwa mongwe, rekota mo deithabeising tshutiso ya dithoto kgotsa melato go ya ka karolotlaleletso (1). 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za
262
No. 41060
Verify source ↗

AI-assisted research summary: The Prudential Authority and the Financial Sector Conduct Authority must prepare certain annual reports. The Financial Sector Conduct Authority also becomes liable for a specified medical-scheme subsidy liability, and the Minister or an authorised person may certify certain asset or liability transfers in writing.

262 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 258 (3) A transfer of an asset in terms of subsection (1) does not give rise to any liability to duty or tax. (4) (a) The Minister or a person authorised by the Minister for the purposes of this section may certify in writing that a speciﬁed asset or liability of the Financial Services Board became an asset or liability of the Financial Sector Conduct Authority on the date on which this section came into effect. (b) A certiﬁcate in terms of paragraph (a) is conclusive proof that a speciﬁed asset or liability of the Financial Services Board is an asset or liability of the Financial Sector Conduct Authority. Transfer of staff of Financial Services Board 294. (1) (a) At the date on which this section comes into effect, the staff of the Financial Services Board must be transferred to the Financial Sector Conduct Authority and the South African Reserve Bank, respectively, in accordance with section 197 of the Labour Relations Act, 1995 (Act No. 66 of 1995). (b) Any reference in section 197 of the Labour Relations Act, 1995, to— (i) the ‘‘old employer’’ must be read as a reference to the Financial Services Board; and the ‘‘new employer’’ must be read as a reference to the Financial Sector Conduct Authority or the South African Reserve Bank, as the case may be, in respect of the staff to be transferred to either of these entities. (ii) (c) The agreements referred to in section 197 of the Labour Relations Act, 1995, must address the transfer of the staff of the Financial Services Board to the pension fund of the South African Reserve Bank, where applicable. (2) The Financial Sector Conduct Authority, at the date on which this section comes into effect, becomes liable for the liability of the Financial Services Board to subsidise the cost of the contributions payable to a medical scheme registered under the Medical Schemes Act by— (a) a person who was employed by the Financial Services Board as at 1 January 1998 and remained continuously so employed until he or she retired from the Financial Services Board; or (b) a person who was the spouse or dependant of a person contemplated in paragraph (a) at the time of the person’s retirement from the Financial Services Board, or the person’s death while employed by the Financial Services Board. (3) If the beneﬁt payable to a member in terms of the rules of the Financial Services Board Pension Fund on retirement would have been subject to special tax treatment, the beneﬁt payable to that employee on his or her retirement by the pension fund of the Financial Sector Conduct Authority and the South African Reserve Bank, if applicable, must be subject to the same tax treatment. (4) At the date on which this section comes into effect, the pension fund of the Financial Services Board becomes the pension fund of the Financial Sector Conduct Authority. Annual reports 295. (1) The Prudential Authority must prepare each annual report of a ﬁnancial sector regulator required by a ﬁnancial sector law for which it is the responsible authority, for the reporting period during which this section comes into effect. (2) The Financial Sector Conduct Authority must prepare each annual report of the Financial Services Board or another ﬁnancial sector regulator required by a ﬁnancial sector law for which it is the responsible authority, for the reporting period during which this section comes into effect. (3) A report in terms of subsection (1) or (2) may be published as part of the ﬁrst annual report of the Prudential Authority or the Financial Sector Conduct Authority, as the case may be. 5 10 15 20 25 30 35 40 45 50 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 263 259 (3) Tshutiso ya thoto go ya ka karolotlaleletso (1) ga e bake koketsego go molato mongwe le mongwe go tiro kgotsa lekgetho. (4) (a) Tona kgotsa motho yo o letleletsweng ke Tona mabapi le maitlhomo a karolo eno o ka kanela ka go kwala gore thoto e e tsepamisitsweng kgotsa molato ya Boto ya Ditirelo tsa Ditsˇhelete e nnile thoto kgotsa molato wa Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete ka letlha leo karolo eno e tsentsweng mo tirisong ka lona. (b) Setiﬁkeiti go ya ka temana (a) ke bosupi jo bo konotelelang jwa gore thoto kgotsa molato o o tsepamisitsweng wa Boto ya Ditirelo tsa Ditsˇhelete ke thoto kgotsa molato wa Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete. Tshutiso ya badiri ba Boto ya Ditirelo tsa Ditsˇhelete 294. (1) (a) Ka letlha leo karolo eno e tsenang mo tirisong ka lona, badiri ba Boto ya Ditirelo tsa Ditsˇhelete ba tshwanetse go sutisetswa kwa Bothating jwa Boitshwaro jwa Lephata la Ditsˇhelete le Banka ya Resefe, ka tatelano, go ya ka karolo 197 ya Labour Relations Act, 1995 (Molao 66 wa 1995). (b) Kaelo nngwe le nngwe mo karolong 197 ya Labour Relations Act, 1995, go— (i) ‘‘mothapi wa kgale’’ e tshwanetse go tsewa jaaka kaelo go Boto ya Ditirelo tsa Ditsˇhelete; le ‘‘mothapi yo mosˇwa’’ e tshwanetse go tsewa jaaka kaelo go Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete kgotsa Banka ya Resefe, go ya ka mabaka, mabapi le badiri ba ba tla sutisetswang go nngwe ya ditheo tseno. (ii) (c) Ditumalano tse di kailweng mo karolong 197 ya Labour Relations Act, 1995, di tshwanetse go sekaseka tshutiso ya badiri ba Boto ya Ditirelo tsa Ditsˇhelete go matlole a phensˇene a Banka ya Resefe ya Aforikaborwa, mo go tlhokegang. (2) Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete, ka letlha leo karolo eno e tsenngwang mo tirisong ka lona, bo rwala maikarabelo, mabapi le maikarabelo a Boto ya Ditirelo tsa Ditsˇhelete a go etleetsa tshenyegelo ya dikabelo tse di duelwang go sekema sa kalaﬁ se se kwadisitsweng ka fa tlase ga Medical Schemes Act ke— (a) motho yo o neng a thapilwe ke Boto ya Ditirelo tsa Ditsˇhelete go simolola ka 1 Ferikgong 1997 a be a tswelela go thapiwa jalo go ﬁtlhela a rola tiro mo Botong ya Ditirelo tsa Ditsˇhelete; kgotsa (b) motho yo o neng e le mogatsa kgotsa moikaegi wa motho yo o tlhalositsweng mo temaneng (a) ka nako ya go rola tiro mo Botong ya Ditirelo tsa Ditsˇhelete, kgotsa go tlhokafala ga motho fa a ne e le modiri wa Boto ya Ditirelo tsa Ditsˇhelete. (3) Fa dikunomolemo tse di duelwang leloko go ya ka melawana ya Letlole la Pensˇene la Boto ya Ditirelo tsa Ditsˇhelete ka nako ya go rola tiro di ne di tla nna go ya ka tsholo ya lekgetho le le kgethegileng, dikunomolemo tse di duelwang modiri yoo ka nako ya go rola tiro ga gagwe ke Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete le Banka ya Resefe ya Aforikaborwa, fa go kgonega, di tshwanetse go dirwa go ya ka tsholo ya lekgetho e etshwanang le eo. (4) Ka letlha le karolo eno e tsenngwang mo tirisong ka lona, letlole la pensˇene la Boto ya Ditirelo tsa Ditsˇhelete e nna letlole la pensˇene la Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete. Dipegelo tsa ngwaga 295. (1) Bothati jwa Tlhokomelo bo tshwanetse go baakanya pegelo nngwe le nngwe ya ngwaga ya bolaodi jwa lephata la ditsˇhelete e e tlhokwang ke molao wa lephata la ditsˇhelete oo e leng bolaodi jo bo rwalang maikarabelo a yona mabapi le paka ya go bega e mo go yona letlha le karolo eno e tshwanetseng go tsenngwa mo tirisong ka lona. (2) Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete bo tshwanetse go baakanya pegelo nngwe le nngwe ya ngwaga ya Boto ya Ditirelo tsa Ditsˇhelete kgotsa bolaodi bongwe jwa lephata la ditsˇhelete e e tlhokwang ke molao wa lephata la ditsˇhelete o e leng ona bothati jo bo rwalwang maikarabelo mabapi le paka ya go bega eo mo go yona karolo eno e tsenngwang mo tirisong ka yona. (3) Pegelo go ya ka karolotlaleletso (1) kgotsa (2) e ka phasalatswa jaaka karolo ya pegelo ya ntlha ya ngwaga ya Bothati jwa Tlhokomelo kgotsa Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete, go ya ka mabaka. 5 10 15 20 25 30 35 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za
264
No. 41060
Verify source ↗

AI-assisted research summary: Pending inspections or investigations may be continued and concluded by the Prudential Authority, or by the Financial Sector Conduct Authority for certain insurance-related matters.

264 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Inspections and investigations 260 296. (1) An inspection or investigation in terms of the Banks Act, the Reserve Bank Act, the Mutual Banks Act, 1993 (Act No. 124 of 1993), the Co-operative Banks Act, 2007 (Act No. 40 of 2007), the Short-term Insurance Act or the Long-term Insurance Act that is pending and not concluded immediately before the date on which this section comes into effect may be continued and concluded by the Prudential Authority in terms of the relevant provisions of this Act, or by the Financial Sector Conduct Authority in relation to an inspection or investigation in terms of the Short-term Insurance Act or the Long-term Insurance Act. (2) An inspection or investigation in terms of a ﬁnancial sector law or legislation referred to in the deﬁnition of ‘‘Financial Services Board legislation’’ in section 1 of the Financial Services Board Act, other than those referred to in subsection (1), that is pending but not concluded immediately before the date on which this Chapter comes into effect may be continued and concluded by the Financial Sector Conduct Authority in terms of the relevant provisions of this Act. Co-operation agreements with foreign agencies
297
An arrangement in terms of a ﬁnancial sector law between a registrar, supervisor
Verify source ↗

AI-assisted research summary: An existing financial-sector-law arrangement can continue, and the Financial Sector Conduct Authority must support the Enforcement Committee and panels.

297. An arrangement in terms of a ﬁnancial sector law between a registrar, supervisor or other ﬁnancial sector regulator and a foreign government agency that is in force on the date on which this section comes into effect continues in effect as with the substitution of the relevant ﬁnancial sector regulator for the registrar, supervisor or the other ﬁnancial sector regulator, but may be amended or terminated in accordance with the terms of the arrangement. Enforcement Committee and Appeal Board 298. (1) (a) Despite the repeals effected in the terms of this Part— (i) the Enforcement Committee is to continue to deal with any matter that it was dealing with immediately before the date on which this Part comes into effect; and a panel of the Appeal Board is to continue to deal with any matter that it was dealing with immediately before that date. (ii) 5 10 15 20 25 (b) The Enforcement Committee and the panels referred to in paragraph (a)(ii) 30 continue in existence for the purposes of paragraph (a) only. (2) The Financial Sector Conduct Authority must provide administrative and other support to the Enforcement Committee and the panels. (3) For the purposes of this section, proceedings are instituted if— (a) (b) in the case of the Enforcement Committee established in terms of section 97 of the Securities Services Act, 2004 (Act No. 36 of 2004), the pleadings envisaged in section 102(1) of that Act have been referred to the Enforcement Committee; in the case of the Enforcement Committee established in terms of section 10A of the Financial Services Board Act, the pleadings envisaged in section 6B(1) of the Financial Institutions (Protection of Funds) Act, 2001 (Act No. 28 of 2001) have been delivered in terms of section 6B(2)(a) of that Act. Right of appeal of Financial Services Board decisions
299
Despite the repeals effected in terms of section 290, section 26 of the Financial
Verify source ↗

AI-assisted research summary: Section 26 of the Financial Services Board Act keeps applying for decisions made before the repeal takes effect, and any appeal under that section goes to the Tribunal.

299. Despite the repeals effected in terms of section 290, section 26 of the Financial Services Board Act continues in effect in respect of decisions made before the date those repeals come into effect, but the appeal contemplated by that section is made to the Tribunal. Pending proceedings 300. (1) Despite the repeal of section 9 of the Banks Act in terms of Schedule 4, an application for a review made in terms of that section but not ﬁnally determined before the date on which this section comes into effect may be continued before the board of review, which is to exercise the powers of the Tribunal in relation to the application. 35 40 45 50 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 265 Ditlhatlhobo le dipatlisiso 261 296. (1) Tlhatlhobo kgotsa patlisiso go ya ka Banks Act, Mutual Banks Act, 1993 (Molao 124 wa 1993) Act, Co-operative Banks Act, 2007 (Molao 40 wa 2007), Short Term Insurance Act kgotsa Long Term Insurance Act e e sa letilweng e bile e sa konosetswa ka bonako pele ga letlha leo ka lona karolo eno e tsenngwang tirisong e ka tsweletswa le go khutliswa ke Bothati jwa Tlhokomelo go ya dikabelo tse di maleba tsa Molao ono, kgotsa ke Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete mabapi le tlhatlhobo kgotsa patlisiso go ya ka Short-term Insurance Act kgotsa Long-term Insurance Act. (2) Tlhatlhobo kgotsa patlisiso go ya ka molao wa lephata la ditsˇhelete kgotsa molawana o o kailweng mo tlhalosong ya ‘‘molawana wa Boto ya Ditirelo tsa Ditsˇhelete ‘‘mo karolong 1 ya Financial Services Board Act, ntle le eo e kailweng mo karolotlaleletsong (1), e e letilweng mme e sa konosetswa ka bonako pele ga letlha la go tsenngwa mo tirisong ga Kgaolo eno e ka tsweletswa le go knosetswa ke Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete go ya ka dikabelo tse di maleba tsa Molao ono. Ditumalano tsa tirisanommogo le diejensi tsa kwa ntle
297
Thulaganyo mabapi le molao wa lephata la ditsˇhelete magareng ga mokwadisi,
Verify source ↗

AI-assisted research summary: Transitional rules keep certain financial-services appeal matters going and require administrative support for the relevant committees and panels.

297. Thulaganyo mabapi le molao wa lephata la ditsˇhelete magareng ga mokwadisi, motlhokomedi kgotsa molaodi yo mongwe wa lephata la ditsˇhelete le ejensi ya puso ya boditsˇhaba e e diriswang ka letlha leo karolo eno e tsenngwang mo tirisong ka lona e tswelela go diriswa jaaka le ka kemisetso ya molaodi wa lephata la ditsˇhelete yo o maleba mabapi le mokwadisi, motlhokomedi kgotsa molaodi yo mongwe wa lephata la ditsˇhelete, mme e ka tlhabololwa kgotsa khutliswa go tsamaelana le dipeelo tsa thulaganyo eo. Komiti ya Kgatelelo le Boto ya Boikuelo 298. (1) (a) Go sa nyatswe phediso e e dirilweng go ya ka Karolo eno— (i) Komiti ya Kgatelelo e tla tswelela go samagana le morero mongwe le mongwe o e neng e samagane le ona ka bonako pele ga letlha la go tsenngwa tirisong ga Karolo eno; le panele ya Boto ya Boikuelo e tla tswelela go samagana le morero mongwe le mongwe o e neng e samagane le ona ka bonako pele ga letlha leo. (ii) (b) Komiti ya Kgatelelo le dipanele tse di kailweng mo temaneng (a)(ii) di tswelela go nna teng mabapi le maitlhomo a temana (a) fela. (2) Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete bo tshwanetse go tlamela Komiti ya Kgatelelo le dipanele tse dingwe ka tshegetso ya tsamaiso le e nngwe. (3) Mabapi le maitlhomo a karolo eno, ditsamaiso di a diragatswa fa— (a) mo lebakeng la Komiti ya Kgatelelo e e tlhomilweng go ya ka karolo 97 ya Securities Sevices Act, 2004 (Molao 36 wa 2004), boikuelo jo bo bonetsweng pele mo karolong 102(1) ya Molao oo bo rometswe kwa Komiting ya Kgatelelo; (b) mo lebakeng la Komiti ya Kgatelelo e e tlhomilweng go ya ka karolo 10A ya Financial Services Board Act, boikuelo jo bo bonetsweng pele mo karolong 6B(1) ya Financial Institutions (Protection of Funds) Act, 2001 (Molao 28 wa 2001) bo diragaditswe go ya ka karolo 6B(2)(a) ya Molao oo. Tshwanelo ya boikuelo jwa ditshwetso tsa Boto ya Ditirelo tsa Ditsˇhelete
299
Go sa nyatswe diphimolo tse di dirisitsweng go ya ka karolo 290, karolo 26 ya
Verify source ↗

AI-assisted research summary: Older appeal and review matters can still be dealt with under the repealed provisions, and the appeal goes to the Tribunal while the review board handles qualifying review applications.

299. Go sa nyatswe diphimolo tse di dirisitsweng go ya ka karolo 290, karolo 26 ya Financial Services Board Act e tswelela go diriswa mabapi le ditshwetso tse di dirilweng pele ga letlha leo boikuelo bo tsenngwang mo tirisong ka lona, mme boikuelo jo bo tlhalositsweng mo karolong eo bo dirwa go Lekgotla. Ditsamaiso tse di letetsweng 300. (1) Go sa nyatswe phimolo ya karolo 9 ya Banks Act go ya ka Sˇejule 4, kopo ya tshekatsheko e e dirilweng go ya ka karolo eo mme e ise e tlhomamiswe ka konotelelo pele ga letlha leo karolo eno e tsenngwang mo tirisong ka lona e ka tsweletswa fa pele ga boto ya tshekatsheko, eo e tshwanetseng go diragatsa dithata tsa Lekgotla mabapi le kopo. 5 10 15 20 25 30 35 40 45 50 This gazette is also available free online at www.gpwonline.co.za
266
No. 41060
Verify source ↗

AI-assisted research summary: This section shifts certain pending proceedings to the Prudential Authority or the Financial Sector Conduct Authority, preserves existing financial-sector permissions and rules, and lets the Ombud Council extend one transitional rule in limited cases.

266 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 262 (2) The Prudential Authority must be substituted as a party in any pending proceedings, whether in a court, tribunal or before an arbitrator or any other person or body, that have been commenced but not ﬁnally determined immediately before the date on which this section comes into effect, for the Reserve Bank or a registrar in terms of the Banks Act, the Mutual Banks Act, 1993 (Act No. 124 of 1993), the Co-operative Banks Act, 2007 (Act No. 40 of 2007), the Short-term Insurance Act or the Long-term Insurance Act. (3) The Financial Sector Conduct Authority must be substituted as a party in any pending proceedings, whether in a court, tribunal or before an arbitrator or any other person or body, that have been commenced but not ﬁnally determined immediately before the date on which this section comes into effect, for the Financial Services Board, the Directorate of Market Abuse, where applicable, or a registrar in terms of a ﬁnancial sector law other than the Banks Act. Savings of approvals, consents, registrations and other acts 301. (1) A licence, authorisation, approval, registration, consent or similar permission given in terms of a ﬁnancial sector law and in force immediately before the date on which this section comes into effect remains in force for the purposes of the ﬁnancial sector law, but may be amended or revoked by the responsible authority for the ﬁnancial sector law, in accordance with the provisions of that ﬁnancial sector law. (2) Rules made in terms of section 26 of the Financial Advisory and Intermediary Services Act and in force immediately before the date on which this section come into effect have effect as Ombud Council rules, and may be amended or revoked by Ombud Council rules in accordance with this Act. (3) A regulatory instrument or Regulation made or issued in terms of a ﬁnancial sector law and in force immediately before the date on which this section comes into effect remains in force for the purposes of the ﬁnancial sector law but may be amended or revoked by a regulatory instrument made by the responsible authority for the ﬁnancial sector law in accordance with the relevant ﬁnancial sector law. (4) Consultations undertaken before the date on which Part 1 of Chapter 7 comes into effect in relation to a regulatory instrument proposed to be made under a speciﬁc ﬁnancial sector law or a proposed ﬁnancial sector law after that Part came into effect are taken to meet the requirements of this Act for consultation to the extent that they— (a) meet the requirements of the speciﬁc ﬁnancial sector law for consultation prior to the amendment of that law in accordance with Schedule 4; or substantially meet the requirements of this Act for consultation on the proposed regulatory instrument. (b) (5) Regulations made in terms of section 5 of the Financial Supervision of the Road Accident Fund Act, 1993 (Act No. 8 of 1993), and in force on the date on which this section comes into effect continue in force, but may be amended or repealed by Regulations made in terms of section 5 by the Prudential Authority. (6) An ombud scheme that, immediately before the repeal of the Financial Services Ombuds Schemes Act, 2004 (Act No. 37 of 2004), came into effect, was recognised in terms of that Act must be taken to be a recognised industry ombud scheme as if it had been recognised under this Act. (7) Subsection (6) ceases to have effect at the end of 12 months after Chapter 14 takes effect, but the Ombud Council may, on application and for good reason, extend the application of that subsection in a particular case for a further period of not more than 6 months. 5 10 15 20 25 30 35 40 45 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 267 263 (2) Bothati jwa Tlhokomelo bo tshwanetse go emisetswa jaaka mokgatlho mo ditsamaisong dingwe le dingwe tse di letetsweng, kwa kgotlatshekelong, lekgotleng kgotsa fa pele ga motsereganyi kgotsa motho mongwe le mongwe yo mongwe kgotsa mokgatlho, tse di neng di simolotswe mme di ise di tlhomamiswe ka konotelelo ka bonako pele ga letlha leo ka lona karolo eno e tsenngwang mo tirisong, mabapi le Banka ya Resefe kgotsa mokwadisi go ya ka Banks Act, the Mutual Banks Act, 1993 (Molao 124 wa 1993), Co-operative Banks Act, 2007 (Molao 40 wa 2007), Short Term Insurance Act kgotsa Long Term Insurance Act. (3) Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete bo tshwanetse go emisetswa jaaka mokgatlho mo ditsamaisong dingwe le dingwe tse di letetsweng, kwa kgotlatshekelong, lekgotleng kgotsa fa pele ga motsereganyi kgotsa motho mongwe le mongwe yo mongwe kgotsa mokgatlho, tse di neng di simolotswe mme di ise di tlhomamiswe ka konotelelo ka bonako pele ga letlha leo ka lona karolo eno e tsenngwang mo tirisong, mabapi le Boto ya Ditirelo tsa Ditsˇhelete, Bokaedi jwa Tirisobotlhaswa ya Mmaraka kgotsa mokwadisi go ya ka molao wa lephata la ditsˇhelete ntle le Banks Act. Ditshomarelo tsa dithebolo, ditumelelo, dikwadiso le ditiro tse dingwe 301. (1) Laesense, tetla, thebolo, kwadiso, tumalano kgotsa tumelelo e e tshwanang e e neilweng go ya ka molao wa lephata la ditsˇhelete le go diragatswa ka bonako pele ga letlha le ka lona karolo eno e tsenngwang mo tirisong e sala go nna mo tirisong mabapi le maitlhomo a molao wa lephata la ditsˇhelete mme e ka tlhabololwa kgotsa phimolwa ke bothati jo bo rwalang maikarabelo mabapi le molao wa lephata la ditsˇhelete, go tsamaelana le dikabelo tsa molao oo wa lephata la ditsˇhelete. (2) Melawana e e dirilweng go ya ka karolo 26 ya Financial Advisory and Intermediary Services Act le go tsenngwa mo tirisong ka bonako pele ga letlha leo karolo eno e tsenngwang mo tirisong ka lona e na le ditlamorago jaaka melawana ya Khansele ya Ombud, e bile e ka tlhabololwa kgotsa phimolwa ke Khansele ya Ombud go tsamaelana le Molao ono. (3) Sediriso sa bolaodi se se dirilweng kgotsa rebotsweng go ya ka molao wa lephata la ditsˇhelete le go diriswa ka bonako pele ga letlha leo karolo eno e tsenngwang mo tirisong ka lona se sala go nna mo tirisong mabapi le maitlhomo a molao wa lephata la jo bo rwalang ditsˇhelete mme se ka tlhabololwa kgotsa phimolwa ke bothati maikarabelo mabapi le molao wa lephata la ditsˇhelete go tsamaelana le molao wa lephata la ditsˇhelete o o maleba. (4) Ditherisano tse di dirilweng pele ga letlha le Karolo 1 ya Kgaolo 7 e tsenngwang mo tirisong ka lona mabapi le sediriswa sa bolaodi se se tshitsintsweng go dirwa ka fa tlase ga molao wa lephata la ditsˇhelete o o tsepamisitsweng kgotsa molao wa lephata la ditsˇhelete o o tshitsintsweng morago ga fa Karolo eo e tsenngwa mo tirisong di tsewa gore di tsamaelana le ditlhokego tsa Molao ono mabapi le therisano ya bogolo jwa gore di— (a) (b) tsamaelana le ditlhokego tsa molao wa lephata la ditsˇhelete o o tsepamisitsweng mabapi le therisano pele ga tlhabololo ya molao oo go tsamaelana le Sˇejule 4; kgotsa tsamaelana segolo le ditlhokego tsa Molao ono mabapi le therisano mo sedirisong sa bolaodi se se tshitsintsweng. (5) Melawana e e dirilweng go ya ka karolo 5 ya Financial Supervision of the Road Accident Fund Act, 1993 (Molao 8 wa 1993), le go nna mo tirisong ka letlha leo karolo eno e tsenngwang mo tirisong ka lona e tswelela go diriswa, mme e ka tlhabololwa kgotsa phimolwa ke Melawana e e dirilweng go ya ka karolo 5 ke Bothati jwa Tlhokomelo. (6) Sekema sa ombud se, ka bonako pele ga go tsenngwa mo tirisong ga phimolo ya Financial Services Ombuds Schemes Act, 2004 (Molao 37 wa 2004), se amogetsweng go ya ka Molao oo se tshwanetse go tsewa jaaka sekema se se amogetsweng sa bodirelo sa ombud jaaka e kete se amogetswe ka fa tlase ga Molao ono. (7) Karolotlaleletso (6) e khutlisa go diriswa kwa bokhutlong jwa dikgwedi tse 12 morago ga go tsenngwa tirisong ga Kgaolo 14, mme Khansele ya Ombud e ka, ka kopo le ka lebaka le le utlwalang, atolosetsa tiriso ya karolotlaleletso eo mo morerong o o rileng mo nakong e nngwe gape e e safeteng dikgwedi tse 6. 5 10 15 20 25 30 35 40 45 50 55 This gazette is also available free online at www.gpwonline.co.za
268
No. 41060
Verify source ↗

AI-assisted research summary: A levy imposed under section 15A continues under this Act until the Minister fixes a date by notice in the Register, and it is treated as a levy for this Act from the section’s effective date.

268 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Levy 264 302. (1) Despite the repeal of the Financial Services Board Act in terms of Schedule 4, a levy imposed in terms of section 15A of the Financial Services Board Act continues in force subject to this Act, until a date ﬁxed by the Minister by notice published in the Register. (2) A levy referred to in subsection (1) is, from the date on which this section takes 5 effect, taken to be a levy for the purposes of this Act. Chief Actuary
303
A reference in any Act or subordinate legislation to the Chief Actuary is, after the
Verify source ↗

AI-assisted research summary: The Minister may set the commencement date of the Act by notice in the Gazette, and may set different commencement dates for different provisions. References to the Chief Actuary must be read as references to the Prudential Authority after the section starts to apply.

303. A reference in any Act or subordinate legislation to the Chief Actuary is, after the date on which this section comes into effect, to be read as a reference to the Prudential Authority. 10 Additional transitional arrangements 304. (1) In order to facilitate the coming into effect, appropriate implementation and operation of this Act, the Minister may make Regulations providing for transitional arrangements regarding the exercise of powers, the performance of functions and duties, and other matters that may be necessary in relation to— (a) (b) (c) the establishment of the ﬁnancial sector regulators and other bodies in terms of this Act; the coming into operation of different provisions of this Act; and the repeal or amendment of different provisions of a law repealed or amended by this Act. (2) Without limiting subsection (1), Regulations in terms of this section may provide for— (a) (b) the Reserve Bank to exercise speciﬁed powers and to perform speciﬁed functions and duties of the Prudential Authority, should it be necessary for powers and functions of the Prudential Authority in terms of this Act to be exercised for a period prior to the Prudential Authority being formally established; and the Financial Services Board to exercise speciﬁed powers and perform speciﬁed functions and duties of the Financial Sector Conduct Authority, should it be necessary for the powers and functions of the Financial Sector Conduct Authority in terms of this Act to be exercised prior to the Financial Sector Conduct Authority being formally established. Part 7 Short title and commencement Short title and commencement 305. (1) This Act is called the Financial Sector Regulation Act, 2017, and comes into effect on a date determined by the Minister by notice in the Gazette. (2) Different dates may be determined by the Minister in respect of the coming into effect of— (a) different provisions of this Act; (b) different provisions of this Act in respect of different categories of ﬁnancial (c) institutions; and the repeal or amendment of different provisions of a law repealed or amended by this Act. 15 20 25 30 35 40 45 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 269 Lekgethwana 265 302. (1) Go sa nyatswe go phimolwa ga Financial Services Board Act go ya ka Sˇejule 4, lekgethwana le le duediswang go ya ka karolo 15A ya Financial Services Board Act le tswelela go diriswa go ya ka Molao ono, go ﬁtlhela ka letlha le le beilweng ke Tona ka kitsiso e e phasaladitsweng mo Rejisetareng. (2) Lekgethwana le le kailweng mo karolotlaleletsong (1) le, go simolola ka letlha leo karolo eno e tsenngwang mo tirisong ka lona, tseelwa gore ke lekgethwana mabapi le maitlhomo a Molao ono. 5 Mogakolodimogolo

Part

Part 7

303
Kaelo mo Molaong mongwe le mongwe kgotsa molaotlaleletso go
Verify source ↗

AI-assisted research summary: The Minister may make transitional regulations and set commencement dates for the Act by notice.

303. Kaelo mo Molaong mongwe le mongwe kgotsa molaotlaleletso go Mogakolodimogolo e, morago ga letlha leo karolo eno e tsenngwang mo tirisong ka lona, tsewa jaaka kaelo go Bothati jwa Tlhokomelo. 10 Dithulaganyetso tsa kgabaganyo tsa tlaleletso 304. (1) Gore go nolofatswe go tsenngwa mo tirisong, tsenyotirisong e e maleba le tiro ya Molao ono, Tona o ka dira Melawana e e tlamelang mabapi le dithulaganyetso tsa kgabaganyo mabapi le tiragatso ya dithata, go dirwa ga ditiro, le merero e mengwe e e ka tswang e le botlhokwa mabapi le— 15 (a) go tlhongwa ga balaodi ba lephata la ditsˇhelete le mekgatlho e mengwe go ya ka Molao ono; (b) go tsenngwa mo tirisong ga dikabelo tse di farologaneng tsa Molao ono; le (c) phimolo le tlhabololo ya dikabelo tse di farologaneng tsa molao tse di 20 phimotsweng kgotsa tlhabolotsweng ke Molao ono. (2) Ntle le go lekanyetsa karolotlaleletso (1), Melawana go ya ka karolo eno e ka tlamela mabapi le— (a) Banka ya Resefe gore e diragatse dithata tse di tsepamisitsweng le go dira ditiro tse di tsepamisitsweng tsa Bothati jwa Tlhokomelo, fa go ka tlhokega gore dithata le ditiro tsa Bothati jwa Tlhokomelo go ya ka Molao ono di diragatswe mabapi le nako ya pele ga go tlhongwa semmuso ga Bothati jwa Tlhokomelo; le (b) Boto ya Ditirelo tsa Ditsˇhelete go diragatsa dithata tse di tsepamisitsweng le go dira ditiro tse di tsepamisitsweng tsa Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete, fa go ka tlhokega gore dithata le ditiro tsa Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete go ya ka Molao ono di diragatswe pele jwa Boitshwaro jwa Lephata la ga go tlhongwa semmuso ga Bothati Ditsˇhelete. 25 30 35 Karolo 7 Setlhogo se se khutshwane le tshimologo Setlhogo se se khutshwane le tshimologo 305. (1) Molao ono o bidiwa Molao wa Taolo ya Lephata la Ditsˇhelete, 2017, e bile o tsenngwa mo tirisong ka letlha le le tlhomamisitsweng ke Tona ka kitsiso mo Lokwalodikgang la Puso. 40 (2) Matlha a a farologaneng a ka tlhomamiswa ke Tona mabapi le go tsenngwa tirisong ga— (a) dikabelo tse di farologaneng tsa Molao ono; (b) dikabelo tse di farologaneng tsa Molao ono mabapi le ditlhopha tse di 45 farologaneng tsa ditheo tsa ditsˇhelete; le (c) phimolo kgotsa tlhabololo ya dikabelo tse di farologaneng tsa molao o o phimotsweng kgotsa tlhabolotsweng ke Molao ono. This gazette is also available free online at www.gpwonline.co.za
270
No. 41060
Verify source ↗

AI-assisted research summary: This schedule lists the financial sector laws covered by section 1(1).

270 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 266 SCHEDULE 1 FINANCIAL SECTOR LAWS (Section 1(1)) Pension Funds Act, 1956 (Act No. 24 of 1956) Friendly Societies Act, 1956 (Act No. 25 of 1956) Banks Act, 1990 (Act No. 94 of 1990) Financial Services Board Act, 1990 (Act No. 97 of 1990) Financial Supervision of the Road Accident Fund Act, 1993 (Act No. 8 of 1993) Mutual Banks Act, 1993 (Act No. 124 of 1993) Long-term Insurance Act, 1998 (Act No. 52 of 1998) Short-term Insurance Act, 1998 (Act No. 53 of 1998) Financial Institutions (Protection of Funds) Act, 2001 (Act No. 28 of 2001) Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002) Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002) Co-operative Banks Act, 2007 (Act No. 40 of 2007) Financial Markets Act, 2012 (Act No. 19 of 2012) Credit Rating Services Act, 2012 (Act No. 24 of 2012) This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 271 267 SˇEJULE 1 MELAO YA LEPHATA LA DITSˇHELETE (Karolo 1(1)) Pension Funds Act, 1956 (Molao 24 wa 1956) Friendly Societies Act, 1956 (Molao 25 wa 1956) Banks Act, 1990 (Molao 94 wa 1990) Financial Services Board Act, 1990 (Molao 97 wa 1990) Financial Supervision of the Road Accident Fund Act, 1993 (Molao 8 wa 1993) Mutual Banks Act, 1993 (Molao 124 wa 1993) Long-term Insurance Act, 1998 (Molao 52 wa 1998) Short-term Insurance Act, 1998 (Molao 53 wa 1998) Financial Institutions (Protection of Funds) Act, 2001 (Molao 28 wa 2001) Financial Advisory and Intermediary Services Act, 2002 (Molao 37 wa 2002) Collective Investment Schemes Control Act, 2002 (Molao 45 wa 2002) Co-operative Banks Act, 2007 (Molao 40 wa 2007) Financial Markets Act, 2012 (Molao 19 wa 2012) Credit Rating Services Act, 2012 (Molao 24 wa 2012) This gazette is also available free online at www.gpwonline.co.za

Part

SCHEDULE 1

272
No. 41060
Verify source ↗

AI-assisted research summary: This schedule lists the responsible authority for several financial sector laws and related instruments.

272 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 268 SCHEDULE 2 RESPONSIBLE AUTHORITIES (Section 5) Financial sector law Pension Funds Act, 1956 (Act No. 24 of 1956) Friendly Societies Act, 1956 (Act No. 25 of 1956) Banks Act, 1990 (Act No. 94 of 1990) Financial Supervision of the Road Accident Fund Act, 1993 (Act No. 8 of 1993) Mutual Banks Act, 1993 (Act No. 124 of 1993) Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002) Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002) Co-operative Banks Act, 2007 (Act No. 40 of 2007) Financial Markets Act, 2012 (Act No. 19 of 2012) Credit Rating Services Act, 2012 (Act No. 24 of 2012) The Long-term Insurance Act, 1998 (Act No. 52 of 1998) and the Short-term Insurance Act, 1998 (Act No. 53 of 1998), so far as they relate to matters within the objectives of— (a) (b) the Prudential Authority the Financial Sector Conduct Authority A regulatory instrument made by the Prudential Author- ity A regulatory instrument made by the Financial Sector Conduct Authority A joint standard, so far as it relates to matters within the objectives of— (a) (b) the Prudential Authority the Financial Sector Conduct Authority Responsible authority Financial Sector Conduct Authority Financial Sector Conduct Authority Prudential Authority Prudential Authority Prudential Authority Financial Sector Conduct Authority Financial Sector Conduct Authority Prudential Authority Financial Sector Conduct Authority Financial Sector Conduct Authority Prudential Authority Financial Sector Conduct Authority Prudential Authority Financial Sector Conduct Authority Prudential Authority Financial Sector Conduct Authority This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 273 269 SˇEJULE 2 BOTHATI JO BO RWALANG MAIKARABELO (Karolo 5) Molao wa lephata la ditsˇhelete Pension Funds Act, 1956 (Molao 24 wa 1956) Friendly Societies Act, 1956 (Molao 25 wa 1956) Banks Act, 1990 (Molao 94 wa 1990) Financial Supervision of the Road Accident Fund Act, 1993 (Molao 8 wa 1993) Mutual Banks Act, 1993 (Molao 124 wa 1993) Financial Advisory and Intermediary Services Act, 2002 (Molao 37 wa 2002) Collective Investment Schemes Control Act, 2002 (Molao 45 wa 2002) Co-operative Banks Act, 2007 (Molao 40 wa 2007) Financial Markets Act, 2012 (Molao 19 wa 2012) Credit Rating Services Act, 2012 (Molao 24 wa 2012) Long-term Insurance Act, 1998 (Molao 52 wa 1998) le Short-term Insurance Act, 1998 (Molao 53 wa 1998), jaaka ga o amana le merero e e mo maikaelelong a— (a) Bothati jwa Tlhokomelo (b) Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete Sediriswa sa bolaodi se se dirilweng ke Sediriswa sa bolaodi se se dirilweng ke Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete Maemo a a kopanetsweng, jaaka ga a amana le merero e e mo maikaelelong a— (a) Bothati jwa Tlhokomelo (b) Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete Bothati jo bo rwalang maikarabelo Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete Bothati jwa Tlhokomelo Bothati jwa Tlhokomelo Bothati jwa Tlhokomelo Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete Bothati jwa Tlhokomelo Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete Bothati jwa Tlhokomelo Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete Bothati jwa Tlhokomelo Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete Bothati jwa Tlhokomelo Bothati jwa Boitshwaro jwa Lephata la Ditsˇhelete This gazette is also available free online at www.gpwonline.co.za

Part

SCHEDULE 2

274
No. 41060
Verify source ↗

AI-assisted research summary: This schedule lists the kinds of documents that must be published in the register under section 258.

274 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 270 SCHEDULE 3 DOCUMENTS TO BE PUBLISHED IN THE REGISTER (Section 258) 1. 2. 3. 4. 5. 6. 7. 8. 9. This Act Financial sector laws Regulations made in terms of ﬁnancial sector laws Regulatory instruments made in terms of ﬁnancial sector laws Administrative action procedures Guidance notes and interpretation rulings issued under Part 1 of Chapter 10 Enforceable undertakings Orders of a court under section 152 or 204, other than interlocutory orders Debarment orders 10. Licences (including their terms and the conditions to which they are subject)

Part

SCHEDULE 3

11
Notice of variations, suspensions and revocations of licences (including any
Verify source ↗

AI-assisted research summary: This section concerns notice of licence variations, suspensions, and revocations, including any applicable conditions.

11. Notice of variations, suspensions and revocations of licences (including any applicable conditions)
12
Notices in terms of section 122
Verify source ↗

AI-assisted research summary: This text appears to be a heading or reference to notices under section 122 and Tribunal rules.

12. Notices in terms of section 122 13. 14. The Panel list Tribunal rules
15
Decisions of the Tribunal
Verify source ↗

AI-assisted research summary: 15. Decisions of the Tribunal

15. Decisions of the Tribunal
16
Governing rules of recognised industry ombud schemes
Verify source ↗

AI-assisted research summary: This section is about the governing rules and recognition conditions for recognised industry ombud schemes.

16. Governing rules of recognised industry ombud schemes 17. The terms of recognition of industry ombud schemes and the conditions of recognition
18
Notice of variations, suspensions and revocations of recognition of industry
Verify source ↗

AI-assisted research summary: This section concerns notice of variations, suspensions, and revocations of recognition of industry ombud schemes, including any applicable conditions.

18. Notice of variations, suspensions and revocations of recognition of industry ombud schemes (including any applicable conditions)
19
Determinations of fees in terms of section 237(1)(a)
Verify source ↗

AI-assisted research summary: This section refers to determinations of fees under section 237(1)(a) and exemptions under section 281, including any applicable conditions.

19. Determinations of fees in terms of section 237(1)(a) 20. Exemptions under section 281 (including any applicable conditions)
21
Documents that a ﬁnancial sector law provides are to be published in the
Verify source ↗

AI-assisted research summary: Documents that a financial sector law provides must be published in the Register.

21. Documents that a ﬁnancial sector law provides are to be published in the Register
22
Amendments to and revocations of documents referred to in items 1 to 21
Verify source ↗

AI-assisted research summary: This section concerns amendments to and revocations of documents referred to in items 1 to 21.

22. Amendments to and revocations of documents referred to in items 1 to 21 This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 275 271 SˇEJULE 3 DIKWALO TSE DI PHASALATSWANG MO REJISETARENG (Karolo 258) Molao ono Melao ya lephata la ditsˇhelete Melawana e e dirilweng go ya ka melao ya lephata la ditsˇhelete Didiriswa tsa bolaodi tse di dirilweng go ya ka melao ya lephata la ditsˇhelete Dikgato tsa tiro ya tsamaiso Dikitsiso tsa kaelo le ditshwetso tsa tlhaloso tse di tlamang tse di rebotsweng ka fa tlase ga Karolo 1 ya Kgaolo 10 Ditumalano tse di gatelelwang Ditaelo tsa kgotlatshekelo tse di ka fa tlase ga karolo 152 kgotsa 204, ntle le ditaelo tsa puisano Ditaelo tsa kganelo 1. 2. 3. 4. 5. 6. 7. 8. 9.
10
Dilaesense (go akaretsa le dipeelo le mabaka tseo di leng ka fa tlase ga tsona)
Verify source ↗

AI-assisted research summary: This section is titled “Dilaesense” and appears to refer to appeals and the reasons given below them.

10. Dilaesense (go akaretsa le dipeelo le mabaka tseo di leng ka fa tlase ga tsona)
11
Kitsiso ya diphetolo, dikemiso le diphimolo tsa dilaesense (go akaretsa le
Verify source ↗

AI-assisted research summary: This section concerns notifying changes, cancellations, and deletions of licenses, including other applicable reasons.

11. Kitsiso ya diphetolo, dikemiso le diphimolo tsa dilaesense (go akaretsa le mabaka mangwe le mangwe a a diriswang)
12
Dikitsiso go ya ka karolo 122
Verify source ↗

AI-assisted research summary: Heading only: “Dikitsiso go ya ka karolo 122” and “Lenane la Panele.”

12. Dikitsiso go ya ka karolo 122 13. Lenane la Panele
14
Melawana ya Lekgotla
Verify source ↗

AI-assisted research summary: Section 14 is titled "Melawana ya Lekgotla".

14. Melawana ya Lekgotla
15
Ditshwetso tsa Lekgotla
Verify source ↗

AI-assisted research summary: Section title: “Ditshwetso tsa Lekgotla” (Council decisions).

15. Ditshwetso tsa Lekgotla
16
Melawana ya puso ya dikema tsa bodirelo tsa ombud tse di amogetsweng
Verify source ↗

AI-assisted research summary: Section 16 heading for adopted ombud sector governance rules.

16. Melawana ya puso ya dikema tsa bodirelo tsa ombud tse di amogetsweng
17
Dipeelo tsa kamogelo ya dikema tsa bodirelo tsa ombud le mabaka a kamogelo
Verify source ↗

AI-assisted research summary: Section 17 concerns the acceptance requirements for ombud administrative schemes and the reasons for acceptance.

17. Dipeelo tsa kamogelo ya dikema tsa bodirelo tsa ombud le mabaka a kamogelo
18
Kitsiso ya dipharologano, dikemiso le diphimolo tsa kamogelo ya dikema tsa
Verify source ↗

AI-assisted research summary: Section 18 concerns notices of discrepancies, amendments, and cancellations of acceptance for ombud service schemes.

18. Kitsiso ya dipharologano, dikemiso le diphimolo tsa kamogelo ya dikema tsa bodirelo tsa ombud (go akaretsa le mabaka mangwe le mangwe a a diriswang)
19
Ditlhomamiso tsa dituediso go ya ka karolo 237(1)(a)
Verify source ↗

AI-assisted research summary: This section is about payment arrangements under section 237(1)(a).

19. Ditlhomamiso tsa dituediso go ya ka karolo 237(1)(a)
20
Dikgololo ka fa tlase ga karolo 281 (go akaretsa le mabaka mangwe le mangwe
Verify source ↗

AI-assisted research summary: Heading about exemptions under section 281, including any other applicable reasons.

20. Dikgololo ka fa tlase ga karolo 281 (go akaretsa le mabaka mangwe le mangwe a a diriswang)
21
Dikwalo tse di tlamelwang ke molao wa lephata la ditsˇhelete di tshwanetse go
Verify source ↗

AI-assisted research summary: Records required by the finance department’s law must be published in the Register.

21. Dikwalo tse di tlamelwang ke molao wa lephata la ditsˇhelete di tshwanetse go phasalatswa mo Rejisetareng
22
Ditlhabololo le diphimolo tsa dikwalo tse di kailweng mo dintlheng 1 go Fitlha
Verify source ↗

AI-assisted research summary: Heading referring to amendments and repeals of the laws listed in items 1 to 21.

22. Ditlhabololo le diphimolo tsa dikwalo tse di kailweng mo dintlheng 1 go Fitlha go 21 This gazette is also available free online at www.gpwonline.co.za
276
No. 41060
Verify source ↗

AI-assisted research summary: This schedule lists an amendment or repeal entry for the Insolvency Act, 1936 under section 290.

276 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 272 SCHEDULE 4 AMENDMENTS AND REPEALS (Section 290) Act No. and year Act No. 24 of 1936 Short Title Insolvency Act, 1936 Extent of repeal or amendment

Part

SCHEDULE 4

1
The addition in section 35A(1) in the
Verify source ↗

AI-assisted research summary: This provision adds two types of entities to the definition of “market infrastructure”: a licensed central counterparty and a licensed external central counterparty.

1. The addition in section 35A(1) in the deﬁnition of ‘‘market infrastructure’’ of the following paragraphs: ‘‘(d) a central counterparty as deﬁned in section 1 of that Act and licensed under section 49 of that Act; or (e) a licensed external central counterparty as deﬁned in section 1 of that Act;’’.
2
The amendment of section 83—
Verify source ↗

AI-assisted research summary: The trustee may take over certain non-security property within 7 days, and the creditor may realise the property in specified cases before the second meeting of creditors.

2. The amendment of section 83— (a) by the substitution for subsection (2) of the following subsection: ‘‘(2) If such property consists of [a marketable security] securities as deﬁned in section 1(1) of the Fi- nancial Markets Act, 2012 (Act No. 19 of 2012), [or] a bill of exchange or a ﬁnancial instrument or a foreign ﬁnancial instrument as deﬁned in section [1 of the Financial Markets Control Act, 1989 (Act No. 55 of 1989)] 1(1) of the Financial Sector Regulation Act, 2017, the creditor may, after giving the notice men- tioned in subsection (1) and before the second meeting of creditors, realise the property in the manner and on the conditions mentioned in subsection (8).’’; (b) by the substitution for subsection (3) of the following subsection: ‘‘(3) If such property does not consist of [a marketable security] securities or a bill of exchange, the trustee may, within seven days as from the receipt of the notice men- tioned in subsection (1) or within seven days as from the date which the certiﬁcate of appointment issued by the Master in terms of subsection (1) of section eighteen or subsection (2) of section ﬁfty six reached him, whichever be the later, take over the property from the creditor at a value agreed upon between the trustee and the creditor or at the full amount of the creditor’s claim, and if the trustee does not so take over the property the creditor may, after the expiration of the said period but be- fore the said meeting, realise the property in the manner and on the conditions mentioned in subsection (8).’’; and This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 277 273 SˇEJULE 4 DITLHABOLOLO LE DIPHIMOLO (Karolo 290) Nomoro ya Molao le ngwaga Wet No. 24 van 1936 Setlhogo se se khutshwane Insolvensiewet, 1936 Bogolo jwa phimolo kgotsa tlhabololo
1
Die omskrywing van ‘‘markinfra-
Verify source ↗

AI-assisted research summary: This provision amends the definition of “market infrastructure” by adding and expanding the listed categories.

1. Die omskrywing van ‘‘markinfra- struktuur’’ word by artikel 35A(1) gevoeg en verder gewysig deur paragrawe (d) en (e) by te voeg: ‘‘ ‘markinfrastruktuur’— (a) ’n beurs soos omskryf in artikel 1 en gelisensieer kragtens artikel 9 van die ‘Financial Markets Act’, 2012; en (b) ’n sentralesekuriteitebewaarplek soos omskryf in artikel 1 en kragtens artikel 29 van daardie Wet gelisensieer; of ’n verrekeningshuis soos omskryf in artikel 1 van daardie Wet en kragtens artikel 49 van die ‘Financial Markets Act, 2012’, gelisensieer; ’n sentrale teenparty soos in artikel 1 van daardie Wet as ’n ‘central counter party’ omskryf en kragtens artikel 49 van daardie Wet gelisensieer; of ’n gelisensieerde eksterne sentrale teenparty soos in artikel 1 van daardie Wet omskryf as ’n ‘external central counter party;’’. (c) (d) (e)
2
Artikel 83 word gewysig—
Verify source ↗

AI-assisted research summary: This amendment changes Article 83 and lets a creditor realize certain goods, after giving the required notice and before the second meeting of creditors, on the manner and conditions set out in subarticle (8).

2. Artikel 83 word gewysig— (a) deur subartikel (2) deur die volgende subartikel te vervang: ‘‘(2) As daardie goed bestaan uit effekte soos omskryf in artikel 1(1) van die ‘Financial Markets Act’, 2012 (Wet No. 19 van 2012, ’n wissel [of], ’n ﬁnansiële instrument of ’n buitelandse ﬁnansiële instrument soos omskryf in artikel 1(1) van die [Wet op Beheer van Finansiële Markte, 1989 (Wet No. 55 van 1989)] ‘Financial Sector Regulation Act’, 2017, dan kan die skuldeiser, nadat hy kennis gegee het soos bepaal in subartikel (1) en voor die tweede byeenkoms van skuldeisers, die goed te gelde maak op die wyse en voorwaardes bepaal in subartikel (8).’’; (b) deur in subartikel (8) paragraaf (a) deur die volgende paragraaf te vervang: ‘‘(a) as dit bestaan[— (i)] uit goed van ’n soort wat gewoonlik deur ’n This gazette is also available free online at www.gpwonline.co.za
278
No. 41060
Verify source ↗

AI-assisted research summary: A creditor may immediately sell certain property through an authorised user, external authorised user, or regulated person, subject to the relevant Act and applicable rules.

278 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Act No. and year Short Title 274 Extent of repeal or amendment (c) by the substitution in subsection (8) for paragraph (a) of the following para- graph: ‘‘(a) if it is [— (i)] any property of a class ordinarily sold through [a stockbroker as deﬁned in section 1 of the Stock Exchanges Control Act, 1985 (Act No. 1 of 1985)] an authorised user or an external authorised user, on an exchange or an external exchange, each deﬁned in section 1(1) of the Financial Markets Act, 2012 (Act No. 19 of 2012) or, where applicable, a person prescribed by the Minister of Finance as a regulated person in terms of section 5 of that Act, the creditor may, subject to the provisions of [the said] that Act and [(where] applicable[) the] standards and rules [referred to in sec- tion 12 thereof, forth- with] in terms of that Act, immediately sell it through [a stock- broker] an authorised user, external authorised user or such regulated per- son, or if the creditor is [a stockbroker] an authorised user, external authorised user or regu- lated person, also to an- other [stockbroker] authorised user, external authorised user or regu- lated person; [or (ii) a ﬁnancial instrument referred to in subsection (2) the creditor may, sub- ject to the provisions of the Financial Markets Control Act, 1989, and rules referred to in sec- tions 17 thereof, forth- with sell it through a ﬁ- nancial instrument trader as deﬁned in section 1 of the said Act, or, if the creditor is a ﬁnancial in- strument trader or ﬁnan- cial instrument principal as deﬁned in section 1 of This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 279 275 Nomoro ya Molao le ngwaga Setlhogo se se khutshwane Bogolo jwa phimolo kgotsa tlhabololo [effektemakelaar soos omskryf in artikel 1 van die Wet op Beheer van Effektebeurse, 1985 (Wet No. 1 van 1985)] gemagtigde gebruiker of ’n eksterne gemagtigde gebruiker, op ’n beurs of ’n eksterne beurs, elk omskryf in artikel 1(1) van die ‘Financial Markets Act’, 2012 (Wet No. 19 van 2012) omskryf, of, waar van toepassing, iemand deur die Minister van Finansies voorgeskryf as ’n gereguleerde persoon ingevolge artikel 5 van daardie Wet, verkoop word, kan die skuldeiser dit, behoudens die bepalings van [genoemde] daardie Wet en [(waar van toepassing) die] toepaslike standaarde en reëls [bedoel in artikel 12 daarvan, onverwyld] ingevolge daardie Wet, onmiddellik verkoop deur ’n [effektemakelaar] ’n gemagtigde gebruiker, eksterne gemagtigde gebruiker of sodanige gereguleerde persoon, of, indien die skuldeiser ’n [effektemakelaar] ’n gemagtigde gebruiker, eksterne gemagtigde gebruiker of gereguleerde persoon is, ook aan ’n ander [effektemakelaar] gemagtigde gebruiker, eksterne gemagtigde gebruiker of gereguleerde persoon; [of (ii) ’n ﬁnansiële instrument bedoel in subartikel (2), kan die skuldeiser dit, behoudens die bepalings van die Wet op Beheer van Finansiële Markte, 1989, en reëls bedoel in artikel 17 daarvan, onverwyld verkoop deur ’n ﬁnansiële instrument- handelaar soos omskryf in artikel 1 van genoemde Wet, of, indien die skuldeiser ’n This gazette is also available free online at www.gpwonline.co.za
280
No. 41060
Verify source ↗

AI-assisted research summary: This gazette entry records an amendment or repeal reference involving the Pension Funds Act, 1956.

280 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Act No. and year Short Title Extent of repeal or amendment 276 Act No. 24 of 1956 Pension Funds Act, 1956 the said Act, also to another ﬁnancial instrument trader or ﬁnancial instrument principal; and]’’.
1
The amendment of section 1—
Verify source ↗

AI-assisted research summary: Section 1 is amended by inserting several new definitions and deleting some existing ones.

1. The amendment of section 1— (a) by the insertion in subsection (1) after the deﬁnition of ‘‘audit-exempt fund’’ of the following deﬁnition: ‘‘ ‘Authority’ means the Financial Sector Conduct Authority estab- lished in terms of section 56 of the Financial Sector Regulation Act;’’; (b) by the insertion in subsection (1) after the deﬁnition of ‘‘complaint’’ of the following deﬁnition: ‘‘ ‘conduct standard’ has the same meaning ascribed to it in terms of section 1(1) of the Financial Sector Regulation Act;’’; (c) by the insertion in subsection (1) after the deﬁnition of ‘‘fair value’’ of the following deﬁnition: ‘‘‘Financial Sector Regulation Act’ means the Financial Sector Regula- tion Act, 2017;’’; (d) by the deletion in subsection (1) of the deﬁnitions of ‘‘Financial Services Board’’ and ‘‘prescribed’’; (e) by the insertion in subsection (1) after the deﬁnition of ‘‘investment reserve account’’ of the following deﬁnition: ‘‘ ‘joint standard’ has the same meaning ascribed to it in terms of section 1(1) of the Financial Sector Regulation Act;’’; (f) by the insertion in subsection (1) after the deﬁnition of ‘‘provident preserva- tion fund’’ of the following deﬁnition: ‘‘‘prudential standard’ has the same meaning ascribed to it in terms of section 1(1) of the Financial Sec- tor Regulation Act;’’; (g) by the insertion in subsection (1) after the deﬁnition of ‘‘publish’’ of the fol- lowing deﬁnition: ‘‘ ‘Register’ means the Financial Sector Information Register referred to in section 256 of the Financial Sector Regulation Act;’’; (h) by the deletion in subsection (1) of the deﬁnition of ‘‘registrar’’; This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 281 277 Nomoro ya Molao le ngwaga Setlhogo se se khutshwane Bogolo jwa phimolo kgotsa tlhabololo Wet No. 24 van 1956 Wet op Pensioenfondse, 1956 ﬁnansiële instrument- handelaar of ’n ﬁnansiële instrument- prinsipaal is soos omskryf in artikel 1 van genoemde Wet, ook aan ’n ander ﬁnansiële instrument-handelaar of ﬁnansiële instrument- prinsipaal;]’’.
1
Artikel 1 word gewysig—
Verify source ↗

AI-assisted research summary: This section amends Article 1 by adding and removing defined terms.

1. Artikel 1 word gewysig— (a) deur in subartikel (1) na die omskrywing van ‘‘eggenoot’’ die volgende omskrywing in te voeg: ‘‘ ‘Financial Sector Regulation Act’ beteken die ’Financial Sector Regulation Act’, 2016;’’; (b) deur in subartikel (1) die volgende omskrywing na die omskrywing van ‘‘gebeurlikheidsreserwerekening’’ in te voeg: ‘‘ ‘gedragstandaard’ dit wat ingevolge artikel 1(1) van die ‘Financial Sector Regulation Act’ aan ‘conduct standard’ toegeskryf word;’’; (c) deur in subartikel (1) die volgende omskrywing na die omskrywing van ‘‘geregistreerde kantoor’’ in te voeg: ‘‘ ‘gesamentlike standaard’ dit wat ingevolge artikel 1(1) aan die ‘Financial Sector Regulation Act’ aan ‘joint standard’ toegeskryf word;’’; (d) deur in subartikel (1) na die omskrywing van ‘‘ontslag weens personeelinkorting’’ die volgende omskrywing in te voeg: ‘‘ ‘Owerheid’ die Gedragsowerheid op die Finansiële Sektor ingestel ingevolge artikel 56 van die ‘Financial Sector Regulation Act’;’’; (e) deur in subartikel (1) die omskrywing van ‘‘Raad op Finansiële Dienste’’ te skrap; (f) deur in subartikel (1) die volgende omskrywing na die omskrywing van ‘‘raadslid’’ in te voeg: ‘‘ ‘Register’ die Register van Finansiële Sektorinligting bedoel in artikel 256 van die ‘Financial Sector Regulation Act’;’’; (g) deur in subartikel (1) die omskrywing van ‘‘registrateur’’ te skrap; (h) deur in subartikel (1) na die omskrywing van ‘‘surplustoedelingsdatum’’ die volgende omskrywing in te voeg: ‘‘ ‘Tribunaal’ die Tribunaal vir Finansiële Dienste ingestel ingevolge artikel 219 van die ‘Financial Sector Regulation Act’;’’; This gazette is also available free online at www.gpwonline.co.za
282
No. 41060
Verify source ↗

AI-assisted research summary: This text amends another Act by adding a definition of “Tribunal” and a rule that undefined words take their meaning from the Financial Sector Regulation Act unless context says otherwise.

282 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Act No. and year Short Title 278 Extent of repeal or amendment (i) by the insertion in subsection (1) after the deﬁnition of ‘‘this Act’’ of the fol- lowing deﬁnition: ‘‘ ‘Tribunal’ means the Financial Services Tribunal established in terms of section 219 of the Financial Sector Regulation Act;’’; and (j) by the addition of the following subsec- tion: ‘‘(3) Unless the context otherwise indicates, words and expressions not deﬁned in subsection (1) have the same meaning ascribed to them in terms of the Financial Sector Regula- tion Act.’’.
2
The insertion after section 1 of the
Verify source ↗

AI-assisted research summary: This section changes how references and undefined terms in the Act are read, and expands the Authority’s powers and duties under the Act.

2. The insertion after section 1 of the following sections: ‘‘Relationship between Act and Finan- cial Sector Regulation Act 1A. (1) A reference in this Act to the registrar or the Financial Services Board must be read as a reference to the Au- thority. (2) Except as otherwise provided by this Act or the Financial Sector Regula- tion Act, the powers and duties of the Authority in terms of this Act are in ad- dition to the powers and duties that it has in terms of the Financial Sector Regulation Act. (3) A reference in this Act to the Au- thority determining or publishing a mat- ter by notice in the Gazette must be read as including a reference to the Authority determining or publishing the matter by notice published in the Register. (4) Unless expressly provided other- wise in this Act, or this Act requires a matter to be prescribed by regulation, a reference in this Act to a matter being prescribed must be read as— (a) a reference to the matter being pre- scribed in a prudential standard, a conduct standard or a joint standard; or (b) a reference to the Authority deter- mining the matter in writing and registering the determination in the Register. This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 283 279 Nomoro ya Molao le ngwaga Setlhogo se se khutshwane Bogolo jwa phimolo kgotsa tlhabololo (i) deur in subartikel (1) die volgende omskrywing na die omskrywing van ‘‘voorsorgbewaringsfonds’’ in te voeg: ‘‘ ‘voorsorgstandaard’ dit wat ingevolge artikel 1(1) van die ‘Financial Sector Regulation Act’ aan ‘prudential standard’ toegeskryf word;’’; (j) deur in subartikel (1) die omskrywing van ‘‘voorgeskryf’’ te skrap; en (k) deur die volgende subartikel by te voeg: ‘‘(3) Tensy die samehang anders aandui, het woorde en uitdrukkings wat nie in subartikel (1) omskryf is nie, die betekenis wat ingevolge die ‘Financial Sector Regulation Act’ daaraan toegeskryf is.’’.
2
Die volgende artikels word na
Verify source ↗

AI-assisted research summary: This section says how references in the Act should be read, and confirms that the Authority has its powers and duties under this Act alongside those under the Financial Sector Regulation Act unless otherwise provided.

2. Die volgende artikels word na artikel 1 ingevoeg: ‘‘Verhouding tussen Wet en ‘Financial Sector Regulation Act’ 1A. (1) ’n Verwysing in hierdie Wet na die Raad op Finansiële Dienste, moet as ’n verwysing na die Owerheid gelees word. (2) Buiten soos anders deur hierdie Wet of die ‘Financial Sector Regulation Act’ bepaal, het die Owerheid die bevoegdhede en pligte ingevolge hierdie Wet benewens die bevoegdhede en pligte wat die Owerheid ingevolge die ‘Finan- cial Sector Regulation Act’ het. (3) ’n Verwysing in hierdie Wet na die Owerheid wat besluit oor ’n aangeleent- heid en dit by kennisgewing in die Staatskoerant publiseer, moet gelees word as ’n verwysing na die Owerheid wat die aangeleentheid bepaal of publiseer by kennisgewing in die Register. (4) Tensy uitdruklik anders in hierdie Wet bepaal, of tensy hierdie Wet vereis dat ’n aangeleentheid by regulasie voorgeskryf word, moet ’n verwysing in hierdie Wet na die voorskryf van ’n aangeleentheid gelees word as— (a) ’n verwysing daarna dat die aangeleentheid in ’n voorsorg- standaard, ’n gedragstandaard of ’n gesamentlike standaard voorgeskryf word; of (b) ’n verwysing daarna dat die Owerheid die aangeleentheid skriftelik bepaal en die bepaling in die Register registreer. This gazette is also available free online at www.gpwonline.co.za
284
No. 41060
Verify source ↗

AI-assisted research summary: This section changes how certain references in the Act are read, including publication by the Authority, fees, and appeals.

284 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Act No. and year Short Title Extent of repeal or amendment 280 (5) (a) A reference in this Act to the Authority announcing or publishing in- formation or a document on a web site must be read as a reference to the Au- thority publishing the information or document in the Register. (b) The Authority may also publish the information or document on its web site. (6) A reference in this Act to a deter- mined or prescribed fee must be read as a reference to the relevant fee deter- mined in terms of section 237 and Chap- ter 16 of the Financial Sector Regulation Act. (7) A reference in this Act to an ap- peal of a decision of the Authority must be read as a reference to a reconsidera- tion of the decision by the Tribunal in terms of the Financial Sector Regulation Act. Regulatory instruments
1B
For the purposes of the deﬁnition
Verify source ↗

AI-assisted research summary: For this definition, a matter prescribed by the Authority is a “regulatory instrument” if the Act specifically requires notice in the Gazette.

1B. For the purposes of the deﬁnition of ‘‘regulatory instrument’’ in sec- tion 1(1) of the Financial Sector Regula- tion Act, any matter prescribed by the Authority in respect of which notice in the Gazette is speciﬁcally required by this Act is a regulatory instrument.’’.
3
The repeal of section 2(5).
Verify source ↗

AI-assisted research summary: This section repeals section 2(5).

3. The repeal of section 2(5).
4
The repeal of section 3.
Verify source ↗

AI-assisted research summary: This section repeals section 3.

4. The repeal of section 3.
5
The amendment of section 18—
Verify source ↗

AI-assisted research summary: The Authority may direct a registered fund to submit a scheme if returns show it is not in sound financial condition, and may publish information or documents on its website.

5. The amendment of section 18— (a) by the substitution for subsection (1) of the following subsection: ‘‘(1) [The registrar may pre- scribe criteria for ﬁnancial sound- ness, and when] If any return under this Act indicates that a registered fund is not in a sound ﬁnancial con- dition as determined in accordance with prudential standards, the [regis- trar] Authority may, save as pro- vided in section 29, direct the fund to submit a scheme setting out the arrangements which have been made, or which it intends to make, to bring the fund into a ﬁnancially sound condition within such period, and subject to such conditions, as determined by the [registrar] Au- thority.’’; and This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 285 281 Nomoro ya Molao le ngwaga Setlhogo se se khutshwane Bogolo jwa phimolo kgotsa tlhabololo (5) (a) ’n Verwysing in hierdie Wet na die Owerheid wat inligting of ’n dokument op ’n webwerf publiseer, moet gelees word as ’n verwysing na die Owerheid wat die inligting of dokument in die Register publiseer. (b) Die Owerheid kan ook die inligting of dokument op die Owerheid se webwerf publiseer. (6) ’n Verwysing in hierdie Wet na vasgestelde of voorgeskrewe gelde moet gelees word as ’n verwysing na die tersaaklike gelde ingevolge artikel 237 en Hoofstuk 16 van die ‘Financial Sector Regulation Act’ vasgestel. (7) ’n Verwysing in hierdie Wet na ’n appèl teen ’n besluit van die Owerheid moet gelees word as ’n verwysing na ’n heroorweging van die besluit deur die Tribunaal ingevolge die ‘Financial Sec- tor Regulation Act’. Reguleringsinstrumente
1B
By die toepassing van die
Verify source ↗

AI-assisted research summary: This section defines certain prescribed matters as a “regulatory instrument” for the Act.

1B. By die toepassing van die omskrywing van ‘reguleringsinstrument’ (‘regulatory instrument’) in artikel 1(1) van die ‘Financial Sector Regulation Act’, is enige aangeleentheid deur die Owerheid voorgeskryf ten opsigte waarvan kennisgewing in die Staatskoerant spesiﬁek deur hierdie Wet vereis word, ’n reguleringsinstrument.’’.
3
Artikel 2(5) word herroep.
Verify source ↗

AI-assisted research summary: Article 2(5) is repealed.

3. Artikel 2(5) word herroep.
4
Artikel 3 word herroep.
Verify source ↗

AI-assisted research summary: Article 3 is repealed.

4. Artikel 3 word herroep.
5
Artikel 18 word gewysig—
Verify source ↗

AI-assisted research summary: If a registered fund is shown not to be financially sound, the Authority may order it to submit a scheme for restoring financial health.

5. Artikel 18 word gewysig— (a) deur subartikel (1) deur die volgende subartikel te vervang: ‘‘(1) [Die registrateur kan maatstawwe voorskryf vir ﬁnansiële gesondheid, en wanneer] Indien ’n opgawe ingevolge hierdie Wet aantoon dat ’n geregistreerde fonds nie in ’n gesonde ﬁnansiële toestand, soos ooreenkomstig voorsorgstandaarde bepaal, is nie, kan die [registrateur] Owerheid, behoudens die bepalings van artikel 29, gelas dat die fonds ’n skema voorlê waarin uiteengesit word die reëlings wat getref is, of wat die fonds van plan is om te tref om die fonds binne sodanige tydperk in ’n ﬁnansieel gesonde toestand te bring, en onderworpe aan sodanige voorwaardes, soos deur die [registrateur] Owerheid bepaal.’’; en This gazette is also available free online at www.gpwonline.co.za
286
No. 41060
Verify source ↗

AI-assisted research summary: The Authority may order an investigation or audit of a fund’s financial position when needed to protect the fund’s members.

286 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Act No. and year Short Title 282 Extent of repeal or amendment (b) by the substitution in subsection (5) for paragraph (a) of the following para- graph: ‘‘(a) The [registrar] Authority may at any time, [following an in- spection carried out or investiga- tion conducted under section 25, or for any other reason which the registrar may consider] if it is nec- essary in the interests of the mem- bers of a fund, direct that an investi- gation in terms of section 16 or an audit or both an audit and such in- vestigation be conducted into the ﬁnancial position of a fund generally or with reference to any ﬁnancial aspect of the fund.’’.
6
The amendment of section 19—
Verify source ↗

AI-assisted research summary: This section amends section 19 by replacing part of subsection (5) and deleting subsection (7).

6. The amendment of section 19— (a) by the substitution in subsection (5) for the words preceding paragraph (a) of the following words: ‘‘A registered fund may, if its rules so permit and subject to [the regula- tions] prudential standards, grant a loan to a member by way of invest- ment of its funds or furnish a guar- antee in favour of a person other than the fund in respect of a loan granted or to be granted by such other person to a member to enable the member—’’; and (b) by the deletion of subsection (7).
7
The repeal of section 25.
Verify source ↗

AI-assisted research summary: Section 7 repeals section 25.

7. The repeal of section 25.
8
The substitution in section 26 for sub-
Verify source ↗

AI-assisted research summary: The Authority may direct an investigation, an audit, or both into a fund’s financial position, and may issue directives about a fund’s rules.

8. The substitution in section 26 for sub- section (1) of the following subsection: ‘‘(1) [The registrar may, after con- sidering the interests of the members of a fund (or of the several categories of members if there is more than one such category)— (a) declare that a speciﬁc practice or method of conducting business is unacceptable, irregular or unde- sirable and that such fund, ad- ministrator or person must re- frain from conducting such practice or method of conducting business; or (b)] Without limiting what a directive of a ﬁnancial sector regulator may include, the Authority may, through a directive, direct that the rules of [the] a fund, including rules relat- ing to the appointment, powers, This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 287 283 Nomoro ya Molao le ngwaga Setlhogo se se khutshwane Bogolo jwa phimolo kgotsa tlhabololo (b) deur in subartikel (5) paragraaf (a) deur die volgende paragraaf te vervang: ‘‘(a) Die [registrateur] Owerheid kan te eniger tyd, [nadat ’n inspeksie of ondersoek uitgevoer is kragtens artikel 25, of vir enige ander rede wat die registrateur] indien dit nodig [ag] is in die belang van die lede van ’n fonds, opdrag gee dat ’n ondersoek ingevolge artikel 16 uitgevoer word, of ’n oudit of beide ’n oudit en sodanige ondersoek uitgevoer word na die ﬁnansiële posisie van ’n fonds oor die algemeen of met verwysing na enige ﬁnansiële aspek van die fonds.’’.
6
Artikel 19 word gewysig—
Verify source ↗

AI-assisted research summary: This provision amends Article 19 by replacing wording in subarticle (5) and deleting subarticle (7).

6. Artikel 19 word gewysig— (a) deur in subartikel (5) die woorde wat paragraaf (a) voorafgaan deur die volgende woorde te vervang: ‘‘ ’n Geregistreerde fonds kan, indien sy statute dit toelaat en behoudens [die regulasies] voorsorgstandaarde, by wyse van belegging van sy fondse ’n lening aan ’n lid toestaan of ’n waarborg verstrek ten gunste van ’n ander persoon as die fonds ten opsigte van ’n lening toegestaan of toegestaan te word deur so ’n ander persoon aan ’n lid ten einde die lid in staat te stel—’’; en (b) deur subartikel (7) te skrap.
7
Artikel 25 word herroep.
Verify source ↗

AI-assisted research summary: Article 25 is repealed.

7. Artikel 25 word herroep.
8
Subartikel (1) in artikel 26 word deur
Verify source ↗

AI-assisted research summary: The registrar and the Authority may issue orders affecting a fund, including stopping an unacceptable practice and directing changes to a fund’s statutes.

8. Subartikel (1) in artikel 26 word deur die volgende subartikel vervang: ‘‘(1) [Die registrateur kan, nadat die belange van die lede van ’n fonds (of van die verskeie kategorieë van lede indien daar meer as een sodanige kategorie is) in oënskou geneem is— (a) verklaar dat ’n bepaalde praktyk of metode van sake bedryf onaanvaarbaar, onreëlmatig of ongewens is en dat sodanige fonds, administrateur of persoon moet ophou om sodanige praktyk of metode van sake bedryf, te beoefen; of (b)] Sonder om te beperk wat ’n lasgewing van ’n reguleerder van die ﬁnansiële sektor kan insluit, kan die Owerheid, deur ’n lasgewing, opdrag gee dat die statute van [die] ’n fonds, insluitend statute betreffende die aanstelling, This gazette is also available free online at www.gpwonline.co.za
288
No. 41060
Verify source ↗

AI-assisted research summary: This section says the relevant fund rules may be amended when the fund is financially unsound, non-compliant, poorly managed, or has failed to act under section 18.

288 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Act No. and year Short Title Extent of repeal or amendment 284 remuneration (if any) and removal of the board, be amended if [the results of an inspection or on-site visit under section 25 necessitates amendment of the rules of the fund or if the registrar is of the opinion that] the fund— [(i)](a) is not in a sound ﬁnancial condition or does not com- ply with the provisions of this Act or the regulations affecting the ﬁnancial soundness of the fund; [(ii)](b) has failed to act in accor- dance with the provisions of section 18; or [(iii)](c) is not being managed in accordance with this Act or the rules of the fund.’’.
9
The insertion in Chapter VA before
Verify source ↗

AI-assisted research summary: The ombud scheme for complaints under this Chapter is declared to be a statutory ombud scheme for the Financial Sector Regulation Act.

9. The insertion in Chapter VA before section 30A of the following section: ‘‘Ombud scheme 30AA. The ombud scheme in relation to complaints regulated in terms of this Chapter is declared to be a statutory ombud scheme for the purposes of the Financial Sector Regulation Act.’’.

Part

Chapter is declared to be a statutory

10
The substitution in section 30C(1)
Verify source ↗

AI-assisted research summary: This section amends section 30C(1) by replacing the opening words before paragraph (a) with wording that begins: “The Minister shall[, after consultation with the Financial Services Board,] appoint—”.

10. The substitution in section 30C(1) for the words preceding paragraph (a) of the following words: ‘‘The Minister shall[, after consultation with the Financial Services Board,] appoint—’’.
11
The substitution for section 30D of
Verify source ↗

AI-assisted research summary: The Adjudicator must dispose of certain complaints and, where appropriate, apply principles of equity.

11. The substitution for section 30D of the following section: ‘‘Main object of Adjudicator 30D. (1) The main object of the Adju- dicator shall be to dispose of complaints lodged in terms of section 30A(3) of this Act, and complaints for which the Adju- dicator is designated in terms of section 211 of the Financial Sector Regulation Act [in a procedurally fair, economical and expeditious manner]. (2) In disposing of complaints in terms of subsection (1) the Adjudicator must— (a) apply, where appropriate, principles of equity; This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 289 285 Nomoro ya Molao le ngwaga Setlhogo se se khutshwane Bogolo jwa phimolo kgotsa tlhabololo bevoegdhede, vergoeding (indien enige) en verwydering van die raad, gewysig word indien [die uitslag van ’n inspeksie of besoek ter plaatse kragtens artikel 25 wysiging van die statute van die fonds verg of indien die registrateur van mening is dat] die fonds— [(i)](a) nie in ’n gesonde ﬁnansiële toestand is nie of nie voldoen aan die bepalings van hierdie Wet of die regulasies wat die ﬁnansiële gesondheid van die fonds raak nie; [(ii)](b) versuim het om ooreenkomstig die bepalings van artikel 18 op te tree; of [(iii)](c) nie bestuur word ooreenkomstig hierdie Wet of die statute van die fonds nie.’’.
9
Die volgende artikel word in Hoofstuk
Verify source ↗

AI-assisted research summary: The ombud scheme for complaints under this Chapter is declared to be a statutory ombud scheme for purposes of the Financial Sector Regulation Act.

9. Die volgende artikel word in Hoofstuk VA voor artikel 30A ingevoeg: ‘‘Ombudskema 30AA. Die ombudskema in verband met die klagtes ingevolge hierdie Hoofstuk gereguleer, word verklaar ’n statutêre ombudskema by die toepassing van die ‘Financial Sector Regulation Act’, te wees.’’.
10
In artikel 30C(1) word die woorde
Verify source ↗

AI-assisted research summary: This section changes article 30C(1) by replacing the words before paragraph (a) with new wording about the Minister appointing someone, after consultation with the Financial Services Board.

10. In artikel 30C(1) word die woorde wat paragraaf (a) voorafgaan deur die volgende woorde vervang: ‘‘Die Minister stel[, na oorleg met die Raad op Finansiële Dienste] aan—’’.
11
Artikel 30D word deur die volgende
Verify source ↗

AI-assisted research summary: The Judge must apply equality principles when deciding complaints, where appropriate.

11. Artikel 30D word deur die volgende artikel vervang: ‘‘Hoofoogmerk van Beregter 30D. (1) Die hoofoogmerk van die Beregter is om [op ’n prosedureel regverdige, ekonomiese en spoedige wyse] oor klagtes, ingedien ingevolge artikel 30A(3) van hierdie Wet, en klagtes waarvoor die Beregter ingevolge artikel 211 van die ‘Financial Sector Regulation Act’ aangestel is, te beskik. (2) By beskikking oor klagtes ingevolge subartikel (1), moet die Beregter— (a) waar, gepas, gelykheidsbeginsels toepas; This gazette is also available free online at www.gpwonline.co.za
290
No. 41060
Verify source ↗

AI-assisted research summary: The excerpt requires consideration of the complainant’s contractual or legal relationship with a financial institution, the Act, and fair, economical, and expeditious handling.

290 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Act No. and year Short Title Extent of repeal or amendment 286 (b) have regard to the contractual ar- rangement or other legal relationship between the complainant and any ﬁnancial institution; (c) have regard to the provisions of this Act; and (d) act in a procedurally fair, economi- cal and expeditious manner.’’.
12
The substitution in section 30Q for
Verify source ↗

AI-assisted research summary: Section 12 substitutes wording in section 30Q so the Adjudicator may act with the concurrence of the Financial Services Board.

12. The substitution in section 30Q for the words preceding paragraph (a) of the following words: ‘‘The Adjudicator may [with the con- currence of the Financial Services Board]—’’.
13
The substitution in section 30R(1)
Verify source ↗

AI-assisted research summary: This section replaces paragraph (a) of section 30R(1) with new wording about funds accruing to the Adjudicator.

13. The substitution in section 30R(1) for paragraph (a) of the following para- graph: ‘‘(a) funds [provided by the Financial Services Board] accruing to the Adjudicator in terms of legislation on the grounds of a budget submit- ted to, and approved [of] by, the [Financial Services Board] Minis- ter; and’’.
14
The substitution in section 30S for
Verify source ↗

AI-assisted research summary: This provision replaces “Financial Services Board” with “Minister” wherever it appears in section 30S.

14. The substitution in section 30S for the expression ‘‘Financial Services Board’’, wherever occurring in the section, of the expression ‘‘Minister’’.
15
The substitution in section 30T for
Verify source ↗

AI-assisted research summary: The Adjudicator is the accounting authority of the Office of the Adjudicator.

15. The substitution in section 30T for subsection (1) of the following subsection: [Despite the provisions of the ‘‘(1) Public Finance Management Act, 1999 (Act No. 1 of 1999), the board of the Financial Services Board as deﬁned in section 1 of the Financial Services Board Act, 1990 (Act No. 97 of 1990),] The Adjudicator is the accounting au- thority of the Office of the Adjudicator.’’.
16
The repeal of sections 33, 33A and
Verify source ↗

AI-assisted research summary: This section repeals sections 33, 33A, and 34.

16. The repeal of sections 33, 33A and 34.
17
The deletion in section 36 of subsec-
Verify source ↗

AI-assisted research summary: This section deletes subsections (1)(bA) and (3) from section 36.

17. The deletion in section 36 of subsec- tions (1)(bA) and (3).
18
The deletion in section 37 of subsec-
Verify source ↗

AI-assisted research summary: This provision records the deletion of subsections (2) to (5) in section 37.

18. The deletion in section 37 of subsec- tions (2) to (5).
19
The amendment of the arrangement
Verify source ↗

AI-assisted research summary: This section amends the arrangement of sections by inserting a new item 1A after item 1.

19. The amendment of the arrangement of sections— (a) by the insertion after item 1 of the fol- lowing items: ‘‘1A. Relationship between Act and Financial Sector Regulation Act
1B
Regulatory Instruments’’; and
Verify source ↗

AI-assisted research summary: This text inserts a new item called “30AA. Ombud scheme” before item 30A.

1B. Regulatory Instruments’’; and (b) by the insertion before item 30A of the following item: ‘‘30AA. Ombud scheme’’. This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 291 287 Nomoro ya Molao le ngwaga Setlhogo se se khutshwane Bogolo jwa phimolo kgotsa tlhabololo (b) let op die kontraktuele reëling of ander regsverhouding tussen die klaer en enige ﬁnansiële instelling; (c) op die bepalings van hierdie Wet let; en (d) prosedureel regverdig, ekonomies en vinnig handel.’’.
12
Die woorde wat paragraaf (a) in
Verify source ↗

AI-assisted research summary: This section replaces the words before paragraph (a) in section 30Q with new wording.

12. Die woorde wat paragraaf (a) in artikel 30Q voorafgaan word deur die volgende woorde vervang: ‘‘Die Beregter kan [met die instemming van die Raad op Finansiële Dienste]—’’.
13
Paragraaf (a) in artikel 30R(1) word
Verify source ↗

AI-assisted research summary: This provision replaces paragraph (a) of article 30R(1) with a new paragraph about funds that accrue to the Presiding Officer under legislation, based on a budget presented to and approved by the Minister.

13. Paragraaf (a) in artikel 30R(1) word deur die volgende paragraaf vervang: ‘‘(a) fondse [voorsien deur die Raad op Finansiële Dienste] wat ingevolge wetgewing aan die Beregter toeval op grond van ’n begroting voorgelê aan, en goedgekeur deur, die [Raad op Finansiële Dienste] Minister; en’’.
14
Die uitdrukking ‘‘Raad op Finansiële
Verify source ↗

AI-assisted research summary: In article 30S, the expression “Raad op Finansiële Dienste” is replaced with “Minister”.

14. Die uitdrukking ‘‘Raad op Finansiële Dienste’’ word in artikel 30S vervang deur die uitdrukking ‘‘Minister’’.
15
Subartikel (1) van artikel 30T word
Verify source ↗

AI-assisted research summary: This provision says the Adjudicator is the accounting authority for the office of the Adjudicator.

15. Subartikel (1) van artikel 30T word deur die volgende subartikel vervang: ‘‘(1) [Ondanks die bepalings van die Wet op Openbare Finansiële Bestuur, 1999 (Wet No. 1 van 1999), is die raad van die Raad op Finansiële Dienste soos in artikel 1 van die Wet op die Raad op Finansiële Dienste, 1990 (Wet No. 97 van 1990), omskryf,] Die Beregter is die rekenpligtige gesag van die kantoor van die Beregter.’’.
16
Artikels 33, 33A en 34 word herroep.
Verify source ↗

AI-assisted research summary: Articles 33, 33A and 34 are repealed.

16. Artikels 33, 33A en 34 word herroep.
17
Subartikels (1)(bA) en (3) van
Verify source ↗

AI-assisted research summary: Subsections (1)(bA) and (3) of section 36 are deleted.

17. Subartikels (1)(bA) en (3) van artikel 36 word geskrap.
18
Subartikels (2) tot (5) van artikel 37
Verify source ↗

AI-assisted research summary: Subsections (2) to (5) of section 37 are deleted.

18. Subartikels (2) tot (5) van artikel 37 word geskrap.
19
Die indeling van artikels word
Verify source ↗

AI-assisted research summary: Section 19 amends the article schedule by inserting item 1A after item 1.

19. Die indeling van artikels word gewysig— (a) deur die volgende item na item 1 in te voeg: ‘‘1A. Verhouding tussen Wet en ‘Financial Sector Regulation Act’
1B
Reguleringsinstrumente’’; en
Verify source ↗

AI-assisted research summary: This amendment inserts item 30AA, “Ombudskema”, after item 30A in the list of regulatory instruments.

1B. Reguleringsinstrumente’’; en (b) deur die volgende item na item 30A in te voeg: ‘‘30AA. Ombudskema’’. This gazette is also available free online at www.gpwonline.co.za
292
No. 41060
Verify source ↗

AI-assisted research summary: This entry references Act No. 25 of 1956, the Friendly Societies Act, 1956, under “Extent of repeal or amendment.”

292 No. 41060 GOVERNMENT GAZETTE, 22 AUGUST 2017 Act No. 9 of 2017 Financial Sector Regulation Act, 2017 Act No. and year Act No. 25 of 1956 Short Title Friendly Societies Act, 1956 288 Extent of repeal or amendment
1
The amendment of section 1—
Verify source ↗

AI-assisted research summary: This section amends the definitions in section 1 by adding and deleting terms, and adds an interpretive rule for undefined words.

1. The amendment of section 1— (a) by the insertion in subsection (1) after the deﬁnition of ‘‘assets’’ of the follow- ing deﬁnition: ‘‘ ‘Authority’ means the Financial Sector Conduct Authority estab- lished by section 56 of the Financial Sector Regulation Act;’’; (b) by the insertion in subsection (1) after the deﬁnition of ‘‘assets’’ of the follow- ing deﬁnition: ‘‘ ‘conduct standard’ has the same meaning ascribed to it in terms of section 1(1) of the Financial Sector Regulation Act;’’; (c) by the insertion in subsection (1) after the deﬁnition of ‘‘court’’ of the follow- ing deﬁnition: ‘‘ ‘Financial Sector Regulation Act’ means the Financial Sector Regulation Act, 2017;’’; (d) by the insertion in subsection (1) after the deﬁnition of ‘‘Insurance Act’’ of the following deﬁnition: ‘‘ ‘joint standard’ has the same meaning ascribed to it in terms of section 1(1) of the Financial Sector Regulation Act;’’; (e) by the deletion in subsection (1) of the deﬁnition of ‘‘prescribed’’; (f) by the insertion in subsection (1) after the deﬁnition of ‘‘principal officer’’ of the following deﬁnition: ‘‘ ‘prudential standard’ has the same meaning ascribed to it in terms of section 1(1) of the Financial Sec- tor Regulation Act;’’; (g) by the insertion in subsection (1) after the deﬁnition of ‘‘principal officer’’ of the following deﬁnition: ‘‘ ‘Register’ means the Financial Sector Information Register referred to in section 256 of the Financial Sector Regulation Act;’’; (h) by the deletion in subsection (1) of the deﬁnition of ‘‘registrar’’; and (i) by the addition of the following subsec- tion: ‘‘(3) Unless the context otherwise indicates, words and expressions not deﬁned in subsection (1) have the same meaning ascribed to them in terms of the Financial Sector Regula- tion Act.’’. This gazette is also available free online at www.gpwonline.co.za Molao wa Taolo ya Lephata la Ditshelete , 2017 Nmr 9 ya 2017 GOVERNMENT GAZETTE, 22 AUGUST 2017 No. 41060 293 289 Nomoro ya Molao le ngwaga Wet No. 25 van 1956 Setlhogo se se khutshwane Wet op Onderlinge Hulpverenigings, 1956 Bogolo jwa phimolo kgotsa tlhabololo
1
Artikel 1 word gewysig—
Verify source ↗

AI-assisted research summary: This section updates several definitions and says undefined words generally keep the meaning given by the Financial Sector Regulation Act unless context shows otherwise.

1. Artikel 1 word gewysig— (a) deur in subartikel (1) die volgende omskrywings na die omskrywing van ‘‘boekjaar’’ in te voeg: ‘‘ ‘Financial Sector Regulation Act’ die ‘Financial Sector Regula- tion Act’, 2017; ‘gedragstandaard’ dit wat ingevolge artikel 1(1) van die ‘Financial Sector Regulation Act’ aan ‘conduct standard’ toegeskryf word;’’; (b) deur in subartikel (1) na die omskrywing van ‘‘geregistreerde kantoor’’ die volgende omskrywing in te voeg: ‘‘ ‘gesamentlike standaard’ dit wat ingevolge artikel 1(1) van die ‘Financial Sector Regulation Act’ aan ‘joint standard’ toegeskryf word;’’; (c) deur in subartikel (1) na die omskrywing van ‘‘onderlinge hulpvereniging’’ die volgende omskrywing in te voeg: ‘‘ ‘Owerheid’ die Owerheid op Gedrag in die Finansiële Sektor ingestel by artikel 56 van die ‘Financial Sector Regulation Act’;’’; (d) deur in subartikel (1) na die omskrywing van ‘‘persoon’’ die volgende omskrywing in te voeg: ‘‘ ‘Register’ die Inligtingsregister op die Finansiële Sektor bedoel in artikel 256 van die ‘Financial Sector Regulation Act’;’’; (e) deur in subartikel (1) die omskrywing van ‘‘registrateur’’ te skrap; (f) deur in subartikel (1) die omskrywing van ‘‘voorgeskryf’’ te skrap; (g) deur in subartikel (1) na die omskrywing van ‘‘voorgeskryf’’ die volgende omskrywing in te voeg: ‘‘ ‘voorsorgstandaard’ dit wat in artikel 1(1) van die ‘Financial Sector Regulation Act’ aan ‘prudential standard’ toegeksryf word;’’; en (h) deur die volgende subartikel by te voeg: ‘‘(3) Tensy die samehang anders aandui, het woorde en uitdrukkings wat nie in subartikel (1) omskryf is nie, dieselfde betekenis wat inge- volge die ‘Financial Sector Regula- tion Act’ daaraan toegeskryf is.’’. This gazette is also available free online at www.gpwonline.co.za

Provision text is displayed from LexChat’s stored statute record. Use the official source links to verify amendments, commencement, and current legal force.

About this LexChat collection

Publisher and coverage

LexChat is published by Esheria. Coverage reflects the legislation currently mapped from identified source collections; it may be incomplete, delayed, or later corrected. The official source controls where it differs from this research page.

AI and research method

AI-generated material is explicitly labelled and published only through LexChat's quality controls. It is a research aid, not the source document.

Corrections and reporting

Report a source mismatch, factual issue, personal-data concern, or licensing question to support@esheria.co.ke. Include this page's URL and the supporting official source so the record can be reviewed, corrected, restricted, or withdrawn.

Legal-information disclaimer

LexChat provides legal information and research tools, not legal advice. Verify currency, status, citations, and jurisdiction with authoritative sources and a qualified professional where appropriate.