Financial Sector Regulation Act 9 of 2017 & Regulations

 

Further Legislative Developments

  • Notice of commencement published in GenN 169 in GG 41549 of 29 March 2018 amended (GN 1019 in GG 41947 of 28 September 2018 (p4) and GenN 142 in GG 42314 of 18 March 2019) (p4)
  • Date of commencement of Chapter 14 (ss. 175 to 217 inclusive): 1 September 2019 (GN 1019 in GG 41947 of 1 August 2018, as amended by GenN 142 in GG 42314 of 18 March 2019, as corrected by GN 657 in GG 42454 of 10 May 2019) (p4)
  • Date of commencement of s. 290 in respect of:
    — item 5 of the amendments to the Pension Funds Act 24 of 1956 in respect of s. 18 (1), and item 6 in respect of s. 19 (5) (a);
    — item 1 (b) of the amendments to the Banks Act 94 of 1990 in respect of the definition of 'board of review' in s. 1 (1), and item 7 in respect of s. 9;
    — the definition of 'appeal board' in s. 1, and s. 26B of the Financial Services Board Act 97 of 1990;
    — item 1 (b) of the amendments to the Mutual Banks Act 124 of 1993 in respect of the definition of 'board of appeal' in s. 1 (1), and item 6 in respect of s. 7 of the Mutual Banks Act;
    — item 9 (a) of the amendments to the Financial Advisory and Intermediary Services Act 37 of 2002 in respect of s. 9 (1) (d);
    — item 1 (a) of the amendments to the Co-operative Banks Act 40 of 2007 in respect of the definition of 'appeal board' in s. 1 (1), and item 18 in respect of ss. 75 and 76; and
    — item 9 of the amendments to the Credit Rating Services Act 24 of 2012 in respect of s. 34 (2):
    28 September 2018: (GN 1019 in GG 41947 of 28 September 2018) (p4)
  • Date of commencement of s. 111 (1) (b), Chapter 16 (ss. 237 to 249 inclusive) and s. 302: 1 April 2020 (GenN 142 in GG 42314 of 18 March 2019) (p4)
  • Date of commencement of s. 290 in respect of:
    — item 2 of the amendments to the Pension Funds Act 24 of 1956 in respect of s. 1A (6), items 13 to 15, and item 17;
    — item 2 of the amendments to the Friendly Societies Act 26 of 1956 in respect of s. 1A (4), and item 7 in respect of s. 47 (1) (bA);
    — item 2 of the amendments to the Banks Act 94 of 1990 in respect of s. 1A (7), and item 12 in respect of s. 90 (1) (g);
    — the repeal of the definitions of 'financial institution' and 'trust property' in s. 1, and items 15A and 16 of the Financial Services Board Act 97 of 1990;
    — item 2 of the amendments to the Mutual Banks Act 124 of 1993 in respect of s. 1A (7), and item 8 in respect of s. 91 (1) (e);
    — item 2 of the amendments to the Long-term Insurance Act 52 of 1998 in respect of s. 1A (7);
    — item 2 of the amendments to the Short-term Insurance Act 53 of 1998 in respect of s. 1A (8);
    — item 2 of the amendments to the Financial Advisory and Intermediary Services Act 37 of 2002 in respect of s. 1A (8), item 4, item 15 in respect of s. 21 (2), item 16, item 17, and item 22 in respect of s. 41 (1) (a);
    — item 2 of the amendments to the Collective Investment Schemes Control Act 45 of 2002 in respect of s. 1A (8), and item 10 in respect of s. 114 (3) (d) and (6);
    — item 2 of the amendments to the Co-operative Banks Act 40 of 2007 in respect of s. 1A (8); and
    — item 2 of the amendments to the Credit Rating Services Act 24 of 2012 in respect of s. 1A (8), item 3, and item 8 in respect of s. 28 (1) and (2):
    1 April 2020: (GenN 142 in GG 42314 of 18 March 2019) (p4)
  • Date of commencement of s. 290 in respect of:
    — item 2 of the amendments to the Pension Funds Act 24 of 1956, to the extent that it provides for the insertion of s. 1B; and
    — item 9 (b) of the amendments to the Co-operative Banks Act 40 of 2007, which provides for the insertion of s. 44 (4):
    18 March 2019 (GenN 142 in GG 42314 of 18 March 2019) (p4)
  • Financial Sector Regulations, 2018 amended (GenN 196 in GG 42359 of 29 March 2019) (p7)

Proposed Future Developments

Contact: myjutapockets@juta.co.za