Section 47: Failure to keep records

47. Failure to keep records

An accountable institution that fails to—

(a) keep a record of information in terms of section 22(1), or 22A(1) or (2);

(b) keep such records in accordance with section 23 or 24(1); or

(c) comply with the provisions of section 24(3),

is non-compliant and is subject to an administrative sanction.