Section 75: Amendment of list of supervisory bodies

75. Amendment of list of supervisory bodies

(1) The Minister may, by notice in the Gazette, amend the list of supervisory bodies in Schedule 2 to—

(a) add to the list any entity or functionary which will be responsible for supervising and enforcing compliance with this Act or any order, determination or directive made in terms of this Act in relation to any category of accountable institutions;

(b) delete any supervisory body from the list if the Minister reasonably believes that supervisory body is not satisfactorily performing or no longer performs supervisory or enforcement functions in terms of this Act in relation to any category of accountable institutions; or

(c) make technical changes to the list.

(2) Before the Minister amends Schedule 2 in terms of subsection (1)(a) or (b), the Minister must consult the Centre, and give the entity or functionary concerned, or the supervisory body concerned, as the case may be, at least 60 days’ written notice to submit written representations to the Minister.

(3) Any addition to or deletion from the list of supervisory bodies in Schedule 2 in terms of subsection (1)(a) or (b) must, before publication in the Gazette, be approved by Parliament.