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| South Africa NATIONAL LEGISLATION OVERVIEWS  |
||
Financial Sector Regulation Act, No. 9 of 2017
NOTE: Assented to and published in English, with alternative copy in Northern Sotho, except iro title/text/engrossments in the following sections: s290 Sch4 (NSotho/Afrikaans/Afrikaans) other than iro amendments to Act 2004_017, Act 2005_034 and Act 2012_019 in Zulu, to Act 2007_040 in Xhosa, and to Act 2012_024 in Tsonga**
NOTE: Assented to and published in English, with alternative copy in Northern Sotho, except iro title/text/engrossments in the following sections: s290 Sch4 (NSotho/Afrikaans/Afrikaans) other than iro amendments to Act 2004_017, Act 2005_034 and Act 2012_019 in Zulu, to Act 2007_040 in Xhosa, and to Act 2012_024 in Tsonga**
Long title
To establish a system of financial regulation by establishing the Prudential Authority and the Financial Sector Conduct Authority, and conferring powers on these entities; to preserve and enhance financial stability in the Republic by conferring powers on the Reserve Bank; to establish the Financial Stability Oversight Committee; to provide for the establishment of a framework for the resolution of designated institutions to ensure that the impacts or potential impact of a failure of a designated institution on financial stability are managed appropriately; to designate the Reserve Bank as the resolution authority; to establish a deposit insurance scheme, including a Corporation for Deposit Insurance; to regulate and supervise financial product providers and financial services providers; to improve market conduct in order to protect financial customers; to provide for co-ordination, co-operation, collaboration and consultation among the Reserve Bank, the Prudential Authority, the Financial Sector Conduct Authority, the Corporation for Deposit Insurance, the National Credit Regulator, the Financial Intelligence Centre and other organs of state in relation to financial stability and the functions of these entities; to establish the Financial System Council of Regulators and the Financial Sector Inter-Ministerial Council; to provide for making regulatory instruments, including prudential standards, conduct standards and joint standards; to make provision for the licensing of financial institutions; to make comprehensive provision for powers to gather information and to conduct supervisory on-site inspections and investigations; to make provision in relation to significant owners and beneficial owners of financial institutions and the supervision of financial conglomerates in relation to eligible financial institutions that are part of financial conglomerates; to make provision for designated institutions in connection with resolution matters;to provide for powers to enforce financial sector laws, including by the imposition of administrative penalties; to provide for the protection and promotion of rights in the financial sector asset out in the Constitution; to establish the Ombud Council and confer powers on it in relation to ombud schemes; to provide for coverage of financial product and financial service providers by appropriate ombud schemes; to establish the Financial Services Tribunal as an independent tribunal and to confer on it powers to reconsider decisions by financial sector regulators, the Ombud Council and certain market infrastructures; to establish the Financial Sector Information Register and make provision for its operation; to provide for information sharing arrangements; to create offences; to provide for regulation-making powers of the Minister; to amend and repeal certain financial sector laws; to make transitional and savings provisions; and to provide for matters connected therewith.
[...Long title amended by Act 2021_023_060_20220128]
[...Long title amended by Act 2022_022A_064_20221229]**
Table of contents
| SECTION | TITLE |
| ARRANGEMENT OF SECTIONS | |
| CHAPTER 1. INTERPRETATION, OBJECT AND ADMINISTRATION OF ACT | |
| Part 1. Interpretation | |
| 1. | Definitions |
| 2. | Financial products |
| 3. | Financial services |
| 4. | Financial stability |
| 5. | Responsible authorities |
| 6. | Financial institutions that are juristic persons |
| Part 2. Object and administration of Act | |
| 7. | Object of Act |
| 8. | Administration of Act |
| Part 3. Application of other legislation | |
| 9. | Inconsistencies between Act and other laws [...Title amended by Act 2021_023_037_20220128 - was entitled "Inconsistencies between Act and other financial sector laws"] |
| 10. | Application of other legislation |
| CHAPTER 2. FINANCIAL STABILITY | |
| Part 1. Powers and functions of Reserve Bank | |
| 11. | Responsibility for financial stability |
| 12. | Monitoring of risks by Reserve Bank |
| 13. | Financial stability review |
| Part 2. Managing systemic events and risks in relation to systemic events | |
| 14. | Determination of systemic events |
| 15. | Functions of Reserve Bank in relation to systemic events |
| 16. | Information to Minister |
| 17. | Responsibilities of financial sector regulators |
| 18. | Directives to financial sector regulators |
| 19. | Exercise of powers by other organs of state |
| Part 3. Financial Stability Oversight Committee | |
| 20. | Establishment of Financial Stability Oversight Committee |
| 21. | Functions of Financial Stability Oversight Committee |
| 22. | Membership |
| 23. | Administrative support by Reserve Bank |
| 24. | Meetings and procedure |
| Part 4. Financial Sector Contingency Forum | |
| 25. | Financial Sector Contingency Forum |
| Part 5. Roles of financial sector regulators and other organs of state in maintaining financial stability | |
| 26. | Co-operation among Reserve Bank and financial sector regulators in relation to financial stability |
| 27. | Memoranda of understanding [...Title amended by Act 2021_023_039_20220128 - was entitled "Memoranda of understanding relating to financial stability"] |
| 28. | Roles of other organs of state in relation to financial stability and resolution [...Title amended by Act 2021_023_040_20220128 - was entitled "Roles of other organs of state in relation to financial stability"] |
| Part 6. Systemically important financial institutions and payment systems [...Title amended by Act 2021_023_041_20220128 - was entitled "Part 6. Systemically important financial institutions"] | |
| 29. | Designation of systemically important financial institutions |
| 29A. | Designated institutions [...inserted by Act 2021_023_042_20220128] |
| 29B. | Designation of systemically important payment systems [...inserted by Act 2021_023_042_20220128] |
| 30. | Prudential standards and regulator’s directives in respect of systemically important financial institutions and designated institutions [...Title amended by Act 2021_023_043_20220128 - was entitled "Prudential standards and regulator’s directives in respect of systemically important financial institutions"] |
| 31. | ... [...repealed by Act 2021_023_044_20220128 - was entitled "Winding-up and similar steps in respect of systemically important financial institutions"] |
| CHAPTER 3. PRUDENTIAL AUTHORITY | |
| Part 1. Establishment, objective and functions | |
| 32. | Establishment |
| 33. | Objective |
| 34. | Functions |
| Part 2. Governance | |
| 35. | Overall governance objective |
| 36. | Appointment of Chief Executive Officer |
| 37. | Role of Chief Executive Officer |
| 38. | Term of office of Chief Executive Officer |
| 39. | Removal of Chief Executive Officer |
| 40. | Acting Chief Executive Officer |
| 41. | Establishment of Prudential Committee |
| 42. | Role of Prudential Committee |
| 43. | Meetings of Prudential Committee |
| 44. | Decisions of Prudential Committee |
| 45. | Governance and other subcommittees |
| 46. | Duties of members of Prudential Committee and members of subcommittees |
| 47. | Regulatory strategy |
| 48. | Delegations |
| 49. | Disclosure of interests |
| Part 3. Staff, resources and financial management | |
| 50. | Staff and resources |
| 51. | Resources provided by Reserve Bank |
| 52. | Duties of staff members |
| 53. | Financial management duties of Chief Executive Officer |
| 54. | Information by Chief Executive Officer |
| 55. | Annual reports and financial accounts |
| CHAPTER 4. FINANCIAL SECTOR CONDUCT AUTHORITY | |
| Part 1. Establishment, objective and functions | |
| 56. | Establishment |
| 57. | Objective |
| 58. | Functions |
| Part 2. Governance | |
| 59. | Overall governance objective |
| 60. | Establishment and role of Executive Committee |
| 61. | Commissioner and Deputy Commissioners |
| 62. | Roles of Commissioner and Deputy Commissioners |
| 63. | Terms of office |
| 64. | Service conditions |
| 65. | Removal from office |
| 66. | Meetings of Executive Committee |
| 67. | Decisions of Executive Committee |
| 68. | Governance and other subcommittees |
| 69. | Duties of Commissioner, Deputy Commissioners and other subcommittee members |
| 70. | Regulatory strategy |
| 71. | Delegations |
| 72. | Disclosure of interests |
| Part 3. Staff and resources | |
| 73. | Staff and resources |
| 74. | Duties of staff members |
| 75. | Information by Commissioner |
| CHAPTER 5. CO-OPERATION AND COLLABORATION | |
| Part 1. Co-operation and collaboration | |
| 76. | Co-operation and collaboration between financial sector regulators and Reserve Bank |
| 77. | Memoranda of understanding |
| 78. | Other organs of state |
| Part 2. Financial System Council of Regulators | |
| 79. | Financial System Council of Regulators |
| 80. | Meetings |
| 81. | Working groups and subcommittees |
| 82. | Support for Financial System Council of Regulators |
| Part 3. Financial Sector Inter-Ministerial Council | |
| 83. | Financial Sector Inter-Ministerial Council |
| 84. | Meetings |
| 85. | Protection for financial customers in terms of financial sector laws, National Credit Act and Consumer Protection Act |
| 86. | Independent evaluation of effectiveness of co-operation and collaboration |
| CHAPTER 6. ADMINISTRATIVE ACTIONS | |
| Part 1. Administrative action committees | |
| 87. | Establishment and membership |
| 88. | Terms of membership |
| 89. | Meetings |
| 90. | Application of Part to Ombud Council |
| Part 2. Administrative justice | |
| 91. | Applicability of Promotion of Administrative Justice Act [...Title amended by Act 2021_023_045_20220128 - was entitled "Applicability of Promotion of Administrative Justice Act to administrative action by financial sector regulators"] |
| 92. | Procedures for specific administrative action in terms of Act |
| 93. | Processes for determining or amending administrative action procedures |
| 94. | Review of administrative action procedures |
| 95. | Revocation of decisions |
| 96. | Interpretation |
| CHAPTER 7. REGULATORY INSTRUMENTS | |
| Part 1. Regulatory instruments | |
| 97. | Interpretation |
| 98. | Process for making regulatory instruments |
| 99. | Substantially different regulatory instrument |
| 100. | Urgent regulatory instruments |
| 101. | Part does not limit other consultation |
| 102. | Making, publication and commencement of regulatory instruments |
| 103. | Submission of regulatory instruments to Parliament |
| 104. | Reports on consultation processes |
| Part 2. Standards | |
| 105. | Prudential standards |
| 106. | Conduct standards |
| 107. | Joint standards |
| 108. | Additional matters for making standards |
| 109. | Standards requiring concurrence of Reserve Bank |
| 110. | General |
| CHAPTER 8. LICENSING | |
| Part 1. Licensing requirements | |
| 111. | Licence requirement in respect of providers of financial products and financial services, and market infrastructures |
| Part 2. Licences required in terms of section 111(1)(b) or (2) or section 162 | |
| 112. | Interpretation |
| 113. | Power to grant licences |
| 114. | Request for further information or documents by responsible authority |
| 115. | Relevant matters for application for licence |
| 116. | Determination of applications |
| 117. | Reporting obligations of licensee |
| 118. | Licences not transferable |
| 119. | Variation of licences |
| 120. | Suspension of licences |
| 121. | Revocation of licences |
| 122. | Continuation of licensed activity despite suspension or revocation of licence |
| 123. | Procedure for varying, suspending and revoking licences |
| 124. | Applications for licences |
| Part 3. Provisions relating to all licences under financial sector laws | |
| 125. | Application |
| 126. | Concurrence of financial sector regulators on licensing matters |
| 127. | Compulsory disclosure of licences |
| 128. | Publication |
| CHAPTER 9. INFORMATION GATHERING, SUPERVISORY ON-SITE INSPECTIONS AND INVESTIGATIONS | |
| Part 1. Application and interpretation | |
| 129. | Application and interpretation of Chapter |
| 130. | Legal professional privilege |
| Part 2. Information gathering | |
| 131. | Information gathering |
| Part 3. Supervisory on-site inspections | |
| 132. | Powers to conduct supervisory on-site inspections |
| 133. | Interference with supervisory on-site inspections |
| Part 4. Investigations | |
| 134. | Investigators |
| 135. | Powers to conduct investigations |
| 135A. | Investigations into designated institutions in resolution [...inserted by Act 2021_023_050_20220128] |
| 136. | Powers of investigators to question and require production of documents or other items |
| 137. | Powers of investigators to enter and search premises |
| 138. | Warrants |
| 139. | Interference with investigations |
| Part 5. Protections | |
| 140. | Protections |
| CHAPTER 10. ENFORCEMENT | |
| Part 1. Guidance notices and interpretation rulings | |
| 141. | Guidance notices |
| 142. | Interpretation rulings |
| Part 2. Guidance notices and interpretation rulings | |
| 143. | Directives by Prudential Authority |
| 144. | Directives by Financial Sector Conduct Authority |
| 145. | Removal of person from position |
| 146. | Consultation requirements |
| 147. | Period for compliance |
| 148. | Revoking directives |
| 149. | Compliance with directives |
| 150. | Application and interpretation |
| Part 3. Enforceable undertakings | |
| 151. | Enforceable undertakings |
| Part 4. Court orders | |
| 152. | Compliance with financial sector laws |
| Part 5. Debarment | |
| 153. | Debarment |
| 154. | Consultation requirements |
| 155. | Where person cannot be located |
| Part 6. Leniency agreements | |
| 156. | Leniency agreements |
| CHAPTER 11. SIGNIFICANT OWNERS | |
| Part 1. Significant owners | |
| 157. | Significant owners |
| 158. | Approvals and notifications relating to significant owners |
| 159. | Standards in respect of, and regulator’s directives to, significant owners |
| CHAPTER 11A. BENEFICIAL OWNERS [... Title inserted by Act 2022_022A_064_20221229] | |
| 159A. | Beneficial owners [... inserted by Act 2022_022A_064_20221229] |
| 159B. | Standards in relation to beneficial owners [... inserted by Act 2022_022A_064_20221229] |
| 159C. | Regulator's directives in relation to beneficial owners [... inserted by Act 2022_022A_064_20221229] |
| CHAPTER 12. FINANCIAL CONGLOMERATES | |
| Financial conglomerates [sic - heading in TOC but not text] | |
| 160. | Designation of financial conglomerates |
| 161. | Notification by eligible financial institution |
| 162. | Licensing requirements for holding companies of financial conglomerates |
| 163. | Non-operating holding companies of financial conglomerates |
| 164. | Standards for financial conglomerates |
| 165. | Directives to holding companies |
| 166. | Approval and prior notification of acquisitions and disposals |
| CHAPTER 12A. RESOLUTION OF DESIGNATED INSTITUTIONS [... inserted by Act 2021_023_051_20220128[ | |
| Part 1. General provisions with respect to designated institutions [... inserted by Act 2021_023_051_20220128] | |
| 166A | Exercise of Reserve Bank's powers [... inserted by Act 2021_023_051_20220128] |
| 166B | Reserve Bank's resolution objectives [... inserted by Act 2021_023_051_20220128] |
| 166C | Reserve Bank's resolution functions [... inserted by Act 2021_023_051_20220128] |
| 166D | Winding up and similar steps in respect of designated institutions [... inserted by Act 2021_023_051_20220128] |
| 166E | Resolution planning [... inserted by Act 2021_023_051_20220128] |
| 166F | Bridge companies [... inserted by Act 2021_023_051_20220128] |
| 166G | Act of, and evidence of, insolvency [... inserted by Act 2021_023_051_20220128] |
| 166H | Liquidation [... inserted by Act 2021_023_051_20220128] |
| 166 I | Delegation of Reserve Bank's resolution functions [... inserted by Act 2021_023_051_20220128] |
| Part 2. Placing designated institutions in resolution [... inserted by Act 2021_023_051_20220128] | |
| 166J | Determination by Minister to place designated institution in resolution [... inserted by Act 2021_023_051_20220128] |
| 166K | When designated institution ceases to be in resolution [... inserted by Act 2021_023_051_20220128] |
| 166L | Placing designated institution in resolution not termination or acceleration event [... inserted by Act 2021_023_051_20220128] [... inserted by Act 2021_023_051_20220128] |
| 166M | Reserve Bank to manage and control affairs of designated institution [... inserted by Act 2021_023_051_20220128] |
| 166N | Reserve Bank not holding company [... inserted by Act 2021_023_051_20220128] |
| 166O | Resolution practitioners [... inserted by Act 2021_023_051_20220128] |
| 166P | Transfer of shares in designated institutions in resolution [... inserted by Act 2021_023_051_20220128] |
| Part 3. Resolution measures [... inserted by Act 2021_023_051_20220128] | |
| 166Q | Valuation [... inserted by Act 2021_023_051_20220128] |
| 166R | Powers [... inserted by Act 2021_023_051_20220128] |
| 166S | Resolution action, including restructuring and bail in [... inserted by Act 2021_023_051_20220128] |
| 166T | Outcome of resolution actions [... inserted by Act 2021_023_051_20220128] |
| 166U | Creditor hierarchy and equality of claims [... inserted by Act 2021_023_051_20220128] |
| 166V | No creditor worse off' rule [... inserted by Act 2021_023_051_20220128] |
| 166W | Ranking of claims [... inserted by Act 2021_023_051_20220128] |
| 166X | Registration of transactions [... inserted by Act 2021_023_051_20220128] |
| 166Y | Costs of resolution [... inserted by Act 2021_023_051_20220128] |
| Part 4. Protections [... inserted by Act 2021_023_051_20220128] | |
| 166Z | 166Z. Administrative process for actions taken by Reserve Bank in terms of Chapter [... inserted by Act 2021_023_051_20220128[ |
| Part 5. Banks in resolution- covered deposits [... inserted by Act 2021_023_051_20220128[ | |
| 166AA | Corporation to ensure bank depositors have reasonable access to their covered deposits [... inserted by Act 2021_023_051_20220128] |
| 166AB | Limit of cover for covered deposits |
| 166AC | Payments made in error or as result of fraud |
| 166AD | Corporation substituted for depositor in respect of claims |
| Part 6. Corporation for Deposit Insurance- establishment, functions and governance [... inserted by Act 2021_023_051_20220128] | |
| 166AE | Establishment ][... inserted by Act 2021_023_051_20220128] |
| 166AF | Objective and functions [... inserted by Act 2021_023_051_20220128] |
| 166AG | Membership [... inserted by Act 2021_023_051_20220128] |
| 166AH | Governance of Corporation [... inserted by Act 2021_023_051_20220128] |
| 166A I | Board [... inserted by Act 2021_023_051_20220128] |
| 166AJ | Functions of Board [... inserted by Act 2021_023_051_20220128] |
| 166AK | Meetings of Board and decisions [... inserted by Act 2021_023_051_20220128] |
| 166AL | Appointment of Chief Executive Officer of Corporation [... inserted by Act 2021_023_051_20220128] |
| 166AM | Term of office of Chief Executive Officer of Corporation [... inserted by Act 2021_023_051_20220128] |
| 166AN | Removal of Chief Executive Officer of Corporation [... inserted by Act 2021_023_051_20220128] |
| 166AO | Committees [... inserted by Act 2021_023_051_20220128] |
| 166AP | Duties of directors of Board and members of committees [... inserted by Act 2021_023_051_20220128] |
| 166AQ | Disclosure of interests [... inserted by Act 2021_023_051_20220128] |
| 166SR | Share capital [... inserted by Act 2021_023_051_20220128] |
| 166AS | Financial year of Corporation [... inserted by Act 2021_023_051_20220128] |
| 166AT | Surplus funds [... inserted by Act 2021_023_051_20220128] |
| 166AU | Bookkeeping and auditing [... inserted by Act 2021_023_051_20220128] |
| 166AV | Annual report [... inserted by Act 2021_023_051_20220128] |
| 166AW | Winding up of Corporation [... inserted by Act 2021_023_051_20220128] |
| 166AX | Staff and resources [... inserted by Act 2021_023_051_20220128] |
| 166AY | Resources provided by Reserve Bank [... inserted by Act 2021_023_051_20220128] |
| 166AZ | Duties of directors, committee members and staff members [... inserted by Act 2021_023_051_20220128] |
| 166BA | Co-operation and collaboration with financial sector regulators and Reserve Bank [... inserted by Act 2021_023_051_20220128] |
| 166BB | Memoranda of understanding [... inserted by Act 2021_023_051_20220128] |
| 166BC | Deposit insurance levy [... inserted by Act 2021_023_051_20220128] |
| Part 7. Deposit Insurance Fund [... inserted by Act 2021_023_051_20220128] | |
| 166BD | Deposit Insurance Fund [... inserted by Act 2021_023_051_20220128] |
| 166BE | Investment [... inserted by Act 2021_023_051_20220128] |
| 166BF | Information [... inserted by Act 2021_023_051_20220128] |
| Part 8. Contributions to Fund [... inserted by Act 2021_023_051_20220128] | |
| 166BG | Deposit insurance premiums [... inserted by Act 2021_023_051_20220128] |
| 166BH | Fund liquidity [... inserted by Act 2021_023_051_20220128] |
| CHAPTER 13. ADMINISTRATIVE PENALTIES | |
| 167. | Administrative penalties |
| 168. | Payment |
| 169. | Interest |
| 170. | Enforcement |
| 171. | Application of amounts paid as administrative penalties |
| 172. | Administrative penalty taken into account in sentencing |
| 173. | Remission of administrative penalties |
| 174. | Prohibition of indemnity for administrative penalties |
| CHAPTER 14. OMBUDS | |
| Part 1. Ombud Council | |
| 175. | Ombud Council |
| 176. | Objective |
| 177. | Functions of Ombud Council |
| 178. | Overall governance objective |
| 179. | Board of Ombud Council |
| 180. | Appointment of Board members |
| 181. | Terms of office of Board members |
| 182. | Service conditions of Board members |
| 183. | Removal of Board members |
| 184. | Role of Board |
| 185. | Meetings of Board |
| 186. | Decisions of Board |
| 187. | Governance and other committees of Ombud Council |
| 188. | Chief Ombud |
| 189. | Duties of Board members |
| 190. | Delegations |
| 191. | Staff and resources |
| 192. | Duties of staff members |
| 193. | Disclosure of interests |
| Part 2. Recognition of industry ombud schemes | |
| 194. | Recognition of industry ombud schemes |
| 195. | Requirement for further information or documents by Ombud Council |
| 196. | Determination of applications |
| 197. | Varying conditions |
| 198. | Suspension of recognition |
| 199. | Revocation of recognition |
| 200. | Procedure for varying, suspending and revoking recognition |
| Part 3. Powers of Ombud Council | |
| 201. | Ombud Council rules |
| 202. | Directives of Ombud Council |
| 203. | Enforceable undertakings |
| 204. | Compliance with financial sector laws |
| 205. | Debarment |
| 206. | Administrative penalties |
| 207. | Requests for information |
| 208. | Supervisory on-site inspections and investigations |
| Part 4. General provisions | |
| 209. | Access to ombud schemes |
| 210. | Restrictions on financial institutions in relation to ombud schemes |
| 211. | Applicable ombud schemes |
| 212. | Overlaps between ombud schemes |
| 213. | Collaboration between ombuds and ombud schemes |
| 214. | Governing rules of recognised industry ombud scheme |
| 215. | Obligation to comply with governing rules of recognised industry ombud schemes |
| 216. | Suspension of time barring terms |
| 217. | Reporting |
| CHAPTER 15. FINANCIAL SERVICES TRIBUNAL | |
| Part 1. Interpretation | |
| 218. | Definitions |
| Part 2. Financial Services Tribunal | |
| 219. | Establishment and function of Financial Services Tribunal |
| 220. | Members of Tribunal |
| 221. | Term of office and termination of membership |
| 222. | Staff and resources |
| 223. | Duties of staff members |
| 224. | Panels of Tribunal |
| 225. | Panel list |
| 226. | Disclosure of interests |
| 227. | Tribunal rules |
| Part 3. Right to reasons for decisions | |
| 228. | Right to be informed |
| 229. | Right to reasons for decisions |
| Part 4. Reconsideration of decisions | |
| 230. | Applications for reconsideration of decisions |
| 231. | Decision of Tribunal not suspended |
| 232. | Proceedings for reconsideration of decisions |
| 233. | Decisions of panels |
| 234. | Tribunal orders |
| 235. | Judicial review of Tribunal orders |
| 236. | Enforcement of Tribunal orders |
| CHAPTER 16. FEES, LEVIES AND FINANCES | |
| Part 1. Fees and Levies | |
| 237. | Fees, levies and deposit insurance premiums [... Title amended by Act 2022_012_004_20221209 Sch Item4 - was entitled "Fees and levies"] |
| 238. | Fees, levies and deposit insurance premiums to be debts [... Title amended by Act 2022_012_004_20221209 Sch Item5 - was entitled "Fees and levies to be debts"] |
| 239. | Budget, fees, levies and deposit insurance premium proposals [... Title amended by Act 2022_012_004_20221209 Sch Item6 - was entitled "Budget, fees and levies proposals"] |
| 240. | Consultation requirements |
| 241. | Determinations of information required for assessment of levy or deposit insurance premium [... Title amended by Act 2022_012_004_20221209 Sch Item8 - was entitled "Determinations of information required for assessment of levy"] |
| 242. | Assessments of levy or deposit insurance premium [... Title amended by Act 2022_012_004_20221209 Sch Item9 - was entitled "Assessments of levy"] |
| 243. | Payment of fee, levy, deposit insurance premium, or deposit insurance levy by instalments [... Title amended by Act 2022_012_004_20221209 Sch Item10 - was entitled "Payment of fee or levy by instalments"] |
| 244. | Interest on late or non-payment of fees, levies, deposit insurance premiums and deposit insurance levies [... Title amended by Act 2022_012_004_20221209 Sch Item11 - was entitled "Interest on late or non-payment of fees and levies"] |
| 245. | Exemption from fee or deposit insurance premium [... Title amended by Act 2022_012_004_20221209 Sch Item12- was entitled "Exemption from fee"] |
| 246. | Management of fees, levies, deposit insurance premiums and deposit insurance levies [... Title amended by Act 2022_012_004_20221209 Sch Item13 - was entitled "Management of fees and levies"] |
| Part 2. Finances | |
| 247. | Finances of financial sector bodies |
| Part 3. Budgeting, accounting, auditing and financial reporting | |
| 248. | Budgeting, accounting, auditing and financial reporting |
| Part 4. Application of Chapter to Tribunal | |
| 249. | Application of Chapter to Tribunal |
| CHAPTER 17. MISCELLANEOUS | |
| Part 1. Information sharing and reporting | |
| 250. | Designated authority |
| 251. | Information sharing |
| 252. | Reporting by auditors to financial sector regulators |
| 253. | Reporting to financial sector regulators |
| 254. | Prohibition of victimisation |
| 255. | Protected disclosures |
| Part 2. Financial Sector Information Register | |
| 256. | Establishment and operation of Financial Sector Information Register |
| 257. | Purpose of Register |
| 258. | Content of Register |
| 259. | Keeping of Register |
| 260. | Requirements for registered documents |
| 261. | Status of Register and judicial notice |
| 262. | Extracts from Register regarding licence status |
| 263. | Rectification of Register |
| 264. | Delegations by Director-General |
| Part 3. Offences and penalties | |
| 265. | Duties of members and staff of certain bodies |
| 266. | Licensing |
| 267. | Requests for information, supervisory on-site inspections and investigations |
| 268. | Enforcement |
| 269. | Administrative penalties |
| 270. | Ombud schemes |
| 271. | Proceedings in Tribunal |
| 272. | Miscellaneous |
| 273. | False or misleading information |
| 274. | Accounts and records |
| 275. | False assertion of connection with financial sector regulator |
| 276. | Liability in relation to juristic persons |
| Part 4. General matters | |
| 277. | Complaints |
| 278. | Compensation for contraventions of financial sector laws |
| 279. | Extension of period for compliance |
| 280. | Conditions of licences |
| 281. | Exemptions |
| 282. | Requirements for notification and concurrence |
| 283. | Arrangements for engagements with stakeholders |
| 284. | Records and entries in books of account admissible in evidence |
| 285. | Immunities |
| 286. | Notices to licensees |
| 287. | Publication requirements in financial sector laws |
| Part 5. Regulations and Guidelines | |
| 288. | Regulations and guidelines |
| Part 6. Amendments, repeals, transitional and saving provisions | |
| 289. | Interpretation |
| 290. | Amendments and repeals |
| 291. | Transitional provision in relation to medical schemes |
| 292. | Transitional prudential powers of Financial Sector Conduct Authority |
| 293. | Transfer of assets and liabilities of Financial Services Board |
| 294. | Transfer of staff of Financial Services Board |
| 295. | Annual reports |
| 296. | Inspections and investigations |
| 297. | Co-operation agreements with foreign agencies |
| 298. | Enforcement Committee and Appeal Board |
| 299. | Right of appeal of Financial Services Board decisions |
| 300. | Pending proceedings |
| 301 | Savings of approvals, consents, registrations and other acts |
| 302 | Levy |
| 303 | Chief Actuary |
| 304 | Additional transitional arrangements |
| Part 7. Short title and commencement | |
| 305 | Short title and commencement |
| Sch. 1. | SCHEDULE 1. FINANCIAL SECTOR LAWS (Section 1(1)) [s1] |
| Sch. 2. | SCHEDULE 2. RESPONSIBLE AUTHORITIES (Section 5) [s5] |
| Sch. 3. | SCHEDULE 3. DOCUMENTS TO BE PUBLISHED IN THE REGISTER (Section 258) [s258] |
| Sch. 4. | SCHEDULE 4. AMENDMENTS AND REPEALS (Section 290) [s290; s300; s301; s302] |
| Sch 5. | SCHEDULE 5. DEPOSIT INSURANCE PREMIUM (SECTION 166BG) [TOC, 001, 166BG, 237, 239, 245 ] [... inserted by Act 2022_012_004_20221209 Sch Item18] |
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| As amended by Act 2022_012_000_20221209 . | N/A | REQ.INFO | LINK |
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amended by Act 2022_022A_000_20221229 . NOTE Act 2022_022_000 was published in two versions that LegalB refers to as Act 2022_022A_000_20221229 and Act 2022_022B_000_20221229.See Commentary | N/A | REQ.INFO | LINK |
| As amended by ... | N/A | REQ.INFO | LINK |
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