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South Africa
NATIONAL LEGISLATION OVERVIEWS
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Credit Rating Services Act, No. 24 of 2012

Long title


To provide for the registration of credit rating agencies; to provide for the regulation of certain activities of credit rating agencies; to provide conditions for the issuing of credit ratings and rules on the organisation and conduct of credit rating agencies; and to provide for matters connected therewith.

Table of contents

SECTION TITLE

TABLE OF CONTENTS

CHAPTER 1. DEFINITIONS, OBJECTS AND APPLICATION
1. Definitions and interpretation
1A. Relationship between Act and Financial Sector Regulation Act [...inserted by Act 2017_009_290_20170822 Sch4 Item2]
1B. Regulatory instruments [...inserted by Act 2017_009_290_20170822 Sch4 Item2]
2. Objects of Act
3. Application of Act
4. Use of credit ratings
CHAPTER 2. REGISTRATION
5. Application for registration
6. Suspension and cancellation of registration
CHAPTER 3. DUTIES OF REGISTERED CREDIT RATING AGENCY
7. Duties
8. Appointment of directors
9. Methodologies, models and key rating assumptions
10. Credit ratings
11. Code of conduct
12. Outsourcing and other services
13. Disclosures
14. Records
15. Annual report
16. Independent compliance unit
17. Accounting and auditing requirements
CHAPTER 4. ENDORSEMENT OF EXTERNAL CREDIT RATINGS
18. Requirements for endorsement of external credit ratings
CHAPTER 5. LIABILITY AND INDEPENDENCE OF REGISTERED CREDIT RATING AGENCIES
19. Liability of registered credit rating agency
20. Independence
CHAPTER 6. ADMINISTRATION OF ACT
21. [...repealed by Act 2017_009_290_20170822 Sch4 Item4- was entitled "Registrar and deputy registrar of credit rating agencies"]
22. [...repealed by Act 2017_009_290_20170822 Sch4 Item4- was entitled "Delegation and assignment"]
23. Powers and functions of registrar
24. Rules
25. [...repealed by Act 2017_009_290_20170822 Sch4 Item8 - was entitled "Inspections and on-site visits"]
26. [...repealed by Act 2017_009_290_20170822 Sch4 Item8 - was entitled "Directives"]
27. [...repealed by Act 2017_009_290_20170822 Sch4 Item8 - was entitled "Exemptions"]
28. [...repealed by Act 2017_009_290_20170822 Sch4 Item8 - was entitled "Fees and penalties"]
29. [...repealed by Act 2013_045_263_20140116 - was entitled "Cooperation with regulatory authorities"]
CHAPTER 7. ENFORCEMENT ACTIONS AND REMEDIES
30. [...repealed by Act 2017_009_290_20170822 Sch4 Item8 - was entitled "\Enforcement committee"]
31. [...repealed by Act 2017_009_290_20170822 Sch4 Item8 - was entitled "Civil action"]
32. Offences and penalties
33. [...repealed by Act 2017_009_290_20170822 Sch4 Item8 - was entitled "Right of appeal"]
CHAPTER 8. GENERAL PROVISIONS
34. Regulations
35. Saving of rights
36. Amendment of law
37. Short title and commencement
Sch. SCHEDULE. LAW AMENDED (SECTION 36) [s36]
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Copyright Rita V. Felgate 2018