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South Africa
NATIONAL LEGISLATION OVERVIEWS
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Co-operative Banks Act, No. 40 of 2007

Long title

To promote and advance the social and economic welfare of all South Africans by enhancing access to banking services under sustainable conditions; to promote the development of sustainable and responsible co-operative banks and co-operative financial institutions; to establish an appropriate regulatory framework and regulatory institutions for co-operative banks and co-operative financial institutions that protect members of co-operative banks and co-operative financial institutions; to provide for the registration of deposit-taking financial services co-operatives as co-operative banks and co-operative financial institutions; to provide for the regulation and supervision of co-operative banks and co-operative financial institutions; and to provide for the establishment a development agency for co-operative banks; and to provide for matters connected therewith.

[...amended by Act 2017_009_290_20170822 Sch4] 

Table of contents

SECTION TITLE
ARRANGEMENT OF SECTIONS
CHAPTER I. DEFINITIONS, PURPOSE AND APPLICATION OF ACT
1. Definitions
1A. Relationship between Act and Financial Sector Regulation Act [...inserted by Act 2017_009_290_20170822 Sch4]
1B. Regulatory instruments [...inserted by Act 2017_009_290_20170822 Sch4]
2. Purpose of Act
3. Application of Act
4. Application of Co-operatives Act
5. Types of co-operative banks
CHAPTER II. REGISTRATION, CONSTITUTION, FUNCTIONS, MANAGEMENT AND AUDITOR OF CO- OPERATIVE BANK
Part 1. Application to register, name, and fit and proper requirement
6. Application for registration as co-operative bank
7. Requirements for registration
8. Registration of co-operative bank
9. Fit and proper person
10. Name of co-operative bank
11. Suspension of registration or de-registration
12. Repayment of deposits on de-registration or lapsing of registration
Part 2. Constitution and functions of co-operative bank
13. Constitution of co-operative bank and amendment to constitution
14. Banking services provided by co-operative bank
15. General functions of co-operative bank
Part 3. Management of co-operative bank
16. Duties of directors and officers of co-operative bank
17. Details of directors and officers of co-operative bank
Part 4. Auditor of co-operative bank
18. Functions of auditor in relation to Authority [...Title amended by Act 2017_009_290_20170822 - was entitled "Functions of auditor in relation to supervisor"]
19. Submission of documents to Authority [...Title amended by Act 2017_009_290_20170822 - was entitled "Submission of docuemnts to supervisor"]

CHAPTER III. PRUDENTIAL REQUIREMENTS AND LARGE EXPOSURES
20. Prudential requirements of co-operative bank
21. Inability to meet or maintain prudential requirements
22. Reporting on prudential requirements
23. Large exposures of co-operative bank
CHAPTER IV. DEPOSIT INSURANCE FUND
24. Deposit insurance obligations of co-operative bank
25. Establishment of Co-operative Banks Deposit Insurance Fund
26. Control of Co-operative Banks Deposit Insurance Fund
CHAPTER V. AMALGAMATION, DIVISION, CONVERSION, TRANSFER, JUDICIAL MANAGEMENT AND WINDING-UP OF CO-OPERATIVE BANKS
27. Prohibited transactions
28. Conversion of primary savings co-operative bank
29. Amalgamation or division of or transfer by co-operative bank
30. Winding-up or judicial management of co-operative bank
CHAPTER VI. REPRESENTATIVE BODIES
31. Application for registration as representative body
32. Requirements for registration
33. Registration of representative body
34. Requirements for continued registration
35. Cancellation or suspension of registration
CHAPTER VII. SUPPORT ORGANISATIONS
36. Application for accreditation as support organisation
37. Requirements for accreditation
38. Accreditation of support organisation
39. Requirements for continued accreditation
40. Cancellation or suspension of accreditation
CHAPTER VIIA. CO-OPERATIVE FINANCIL INSTITUTIONS
40A. Application for registration as co-operative financial institution [...inserted by Act 2017_009_290_20170822]
40B. Requirements for registration [...inserted by Act 2017_009_290_20170822]
40C. Registratoin of co-operative financial institution [...inserted by Act 2017_009_290_20170822]
40D. Suspension of registration or de-registration [...inserted by Act 2017_009_290_20170822]
40E. Repayment of deposits on de-registration or lapsing of registration [...inserted by Act 2017_009_290_20170822]
40F. Winding-up or judicial management of co-operative financial insitution [...inserted by Act 2017_009_290_20170822]
CHAPTER VIII. ADMINISTRATION OF ACT
41. ... [...Title amended by Act 2013_045_246_20140116 - was entitled "Supervisors of co-operative banks"] [...repealed by Act 2017_009_290_20170822 - was entitled "Supervisor of co-operative banks"]
42. [...repealed by Act 2013_045_247_20140116 - was entitled "Co-operation and co-ordination between supervisors"]
43. ... [...Title amended by Act 2013_045_248_20140116 - was entitled "Deputy co-operative bank supervisors and designated employees"] [...repealed by Act 2017_009_290_20170822 - was entitled "Deputy co-operative bank supervisors"]
44. Delegation and assignment
45. General powers and functions of Authority [...Title amended by Act 2017_009_290_20170822 - was entitled "General powers and functions of supervisor"]
46. Power to make standards [...amended by Act 2017_009_290_20170822 - was entitled "Power to make rules"]
47. Inspections
48. Directives
49. Administrative penalties
50. Information and reports
51. Records and register of co-operative banks 
52. Reporting
53. Relationship with other regulatory authorities

CHAPTER IX. CO-OPERATIVE BANKS DEVELOPMENT AGENCY

Part 1. Establishment, legal status, functions and powers of Agency
Establishment and legal status
55. General functions
56. General powers
57. Power to make rules
Part 2. Governance of Agency
58. Appointment of board members of Agency
59. Term of office of members of Agency
60. Disqualification from membership and vacation of office
61. Chairperson and deputy chairperson
62. Meetings
63. Decisions
64. Duties of members
65. Managing director
66. Delegations
67. Establishment of committees
Part 3. Funding and financial management of Agency
68. Funding
69. CHAPTER XI. OFFENCES AND PENALTIES
70. Financial management, financial statements and annual report

Part 4. National government oversight and executive authority
71. Executive authority
72. Ministerial representatives
73. Investigations
74. Information

CHAPTER X. APPEALS AND APPEAL BOARD
75. ... [...repealed by Act 2017_009_290_20170822 - was entitled "Appeal against decision of supervisor"] 
76. ... [...repealed by Act 2017_009_290_20170822 - was entitled "Establishment and composition of appeal board" 

CHAPTER XI. OFFENCES AND PENALTIES
77. 77. Unlawful use of word "co-operative bank" [ , Co-operative financial institution" ] or [ unlawful conduct ] conduct of business of co-operative bank [ or cooperative financial instutution ] [...Title amended by Act 2017_009_290_20170822 Sch4 - was entitled "Unlawful use of word 'co-operative bank' or conduct of banking business of co-operative bank"]
78. Untrue information in connection with applications
79. Criminal liability of director, managing director, executive officer and other persons
80. General offences
81. Penalties

CHAPTER XII. GENERAL PROVISIONS
82. Fair administrative action
83. Certification of documents
84. Access to records, register and other documentation
85. Indemnity
86. Regulations
87. Powers of Minister
88. Civil liability of director or managing director
89. Exemptions
90. Amendment of laws
91. Transitional provisions
92. Short title and commencement
Sch. SCHEDULE. LAWS AMENDED (SECTION 90)

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Copyright Rita V. Felgate 2018