Section 107: Bothati jwa Tlhokomelo le Bothati jwa Boitshwar o jwa Lephata la Ditshelete bo ka dira maemo a a kopantsweng mo morerong mongwe le mongwe mabapi le gore mongwe le mongwe wa bona o na le thata ya go ka dira maemo.

107. Bothati jwa Tlhokomelo le Bothati jwa Boitshwar o jwa Lephata la Ditshelete bo ka dira maemo a a kopantsweng mo morerong mongwe le mongwe mabapi le gore mongwe le mongwe wa bona o na le thata ya go ka dira maemo.

## Mereto ya tlaleletso ya go dira maemo

108. (1) Go fitlhelela maemo a a kailweng a bolaodi jwa lephata la ditshelete jaaka a tlhagisitswe mo dikarolong 33 le 57, maemo a a kailweng mo dikarolong 105, 106 kgotsa 107 a ka dirwa mo go nngwe le nngwe ya dintlha tse di latelang tsa tlaleletso:

(a) Ditlhokego tsa motho yo o itekanetseng a le matshwanedi, go akaretsa mabapi le—

(i) boleng jwa semelo sa motho jwa boikanyego le tshiamo;

(ii) bokgoni, go akaretsa le maitemogelo, borutegi le kitso; le

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122 No. 41060

GOVERNMENT GAZETTE, 22 AUGUST 2017

Act No. 9 of 2017

Financial Sector Regulation Act, 2017

122

(iii) financial standing;

(b) governance, including in relation to—

(i) the composition, membership and operation of governing bodies and of substructures of governing bodies; and

(ii) the roles and responsibilities of governing bodies and their substructures; 5

(c) the appointment, duties, responsibilities, remuneration, reward, incentive schemes and, subject to applicable labour legislation, the suspension and dismissal of, members of governing bodies and of their substructures;

(d) the appointment, duties, responsibilities, remuneration, reward, incentive schemes and, subject to applicable labour legislation, the suspension and dismissal of, key persons;

(e) the operation of, and operational requirements for, financial institutions;

(f) financial management, including—

(i) accounting, actuarial and auditing requirements;

(ii) asset, debt, transaction, acquisition and disposal management; and 15

(iii) financial statements, updates on financial position, and public reporting and disclosures;

(g) risk management and internal control requirements;

(h) the control functions of financial institutions, including the outsourcing of control functions; 20

(i) record-keeping and data management by financial institutions and representatives;

(j) reporting by financial institutions and representatives to a financial sector regulator;

(k) outsourcing by financial institutions; 25

(l) insurance arrangements, including reinsurance, of financial institutions;

(m) the amalgamation, merger, acquisition, disposal and dissolution of financial institutions;

(n) recovery, resolution and business continuity of financial institutions;

(o) requirements for identifying and managing conflicts of interest; 30

(p) requirements for the safekeeping of assets, including requirements pertaining to the approval and supervision of nominees and custodians.

(2) A standard may—

(a) provide for a financial sector regulator or the Reserve Bank to make determinations, in accordance with procedures defined in a standard, for the purposes of the standard; and 35

(b) impose requirements for approval by a financial sector regulator in respect of specified matters.

(3) A standard made by a financial sector regulator may amend or revoke another standard made by the financial sector regulator. 40

## Standards requiring concurrence of Reserve Bank