Statutes section 106

Section 106

In force date not confirmed

106. (1) Bothati jwa Boitshwaro jwa Lephata la Ditshelete bo ka dira maemo a boitshwaro go, kgotsa mabapi le—

(a) ditheo tsa ditshelete;

(b) dikemedi tsa ditheo tsa ditshelete;

(d) bakonteraka.

(2) Maemo a boitshwaro a tshwanetse go nna le maikaelelo a e le nngwe kgotsa go feta ya tse di latelang:

(a) Go netefatsa nonofo le tshiamo ya mebaraka ya ditshelete;

(b) go netefatsa gore ditheo tsa ditshelete le baemedi ba tshola barekedi ba 45 ditshelete ka tolamo;

(c) go netefatsa gore mananeo a thuto ya tsa ditshelete, kgotsa ditiro tse dingwe tse di tsweletsang kitso ya tsa ditshelete di nepagetse;

(d) go fokotsa kotsi ya gore ditheo tsa ditshelete, dikemedii, batho ba ba botlhokwa le bakonteraka ba tsaya karolo mo boitshwarong jwa kgotsa jo bo 50 nang le seabe mo bosenying jwa ditshelete; le

(e) go thusa mo go tshegetseng tlhomamo ya ditshelete.

(3) Ntle le go lekanyetsa dikarolotlaleletso (1) le (2), maemo a boitshwar o ka dirwa mo go nngwe le nngwe ya mereo e e latelang:

(a) Ditlhokego tsa nonofo le tshiamo tsa mebaraka ya ditshelete; 55

(b) mekgwa ya go lwantsha ditiragatso tse di botlhaswa;

This gazette is also available free online at www.gpwonline.co.za

No. 41060

GOVERNMENT GAZETTE, 22 AUGUST 2017

Act No. 9 of 2017

Financial Sector Regulation Act, 2017

(i) the design and suitability of financial products and financial services;

(ii) the promotion, marketing and distribution of, and advice in relation to, those products and services;

(iii) the resolution of complaints and disputes concerning those products and services, including redress;

(iv) the disclosure of information to financial customers; and

(v) principles, guiding processes and procedures for the refusal, withdrawal or closure of a financial product or a financial service by a financial institution in respect of one or more financial customers, taking into consideration relevant international standards and practices, and subject to the requirements of any other financial sector law or the Financial Intelligence Centre Act, including—

(aa) disclosures to be made to the financial customer; and

(bb) reporting of any refusal, withdrawal or closure to a financial sector regulator;

(d) the design, suitability, implementation, monitoring and evaluation of financial education programs, or other initiatives promoting financial literacy;

(e) matters on which a regulatory instrument may be made by the Financial Sector Conduct Authority in terms of a specific financial sector law;

(f) matters that may in terms of any other provision of this Act be regulated by conduct standards; and

(g) any other matter that is appropriate and necessary for achieving any of the aims set out in subsection (2).

(4) A conduct standard may declare specific conduct in connection with a financial product or a financial service to be unfair business conduct if the conduct—

(a) is or is likely to be materially inconsistent with the fair treatment of financial customers;

(b) is deceiving, misleading or is likely to deceive or mislead financial customers;

(c) is unfairly prejudicing or is likely to unfairly prejudice financial customers or a category of financial customers; or

(d) impedes in any other way the achievement of any of the objectives of a financial sector law.

(5) (a) In relation to a credit provider regulated in terms of the National Credit Act, a conduct standard may only be made in relation to a financial service provided in relation to a credit agreement and matters provided for in section 108.

(b) A conduct standard referred to in paragraph (a) may only be made after consultation with the National Credit Regulator.

## Joint standards

107. The Prudential Authority and the Financial Sector Conduct Authority may make joint standards on any matter in respect of which either of them have the power to make a standard.

## Additional matters for making standards