Section 69: Defences

69. Defences

If a person who is an employee, director or trustee of, or a partner in, an accountable institution is charged with committing an offence under section 52, that person may raise as a defence the fact that he or she had—

(a) complied with the applicable obligations in terms of the Risk Management and Compliance Programme relating to the reporting of information of the accountable institution; or

(b) reported the matter to the person charged with the responsibility of ensuring compliance by the accountable institution with its duties under this Act; or

(c) reported the matter to his or her superior, if any, if—

(i) the accountable institution had not appointed such a person or established such Risk Management and Compliance Programme;

(ii) the accountable institution had not complied with its obligations in section 42(3) in respect of that person; or

(iii) the Risk Management and Compliance Programme was not applicable to that person.