Section 112: Mo Karolong eno—

112. Mo Karolong eno—

“kopo” e kaya kopo ya laesense e e tlhokegang go ya ka karolo 111(1)(b) kgotsa (2) kgotsa karolo 162;

“laesense” e kaya laesense e e tlhokegang go ya ka karolo 111(1)(b) kgotsa (2) kgotsa karolo 162;

“moabelwalaesense” o kaya motho yo o abetsweng laesense go ya ka karolo 111(1)(b) kgotsa (2) kgotsa karolo 162.

# Thata ya go aba dilaesense

113. (1) Bothati jo bo rwalang maikarabelo bo ka, ka kopo, aba laesense.

(2) Kopo e tshwanetse—

(a) go kwalwa le go nna mo foromong e e rebotsweng kgotsa amogetsweng ke bothati jo bo rwalang maikarabelo; le

(b) go akaretsa kgotsa go romelwa le tshedimosetso le dikwalo—

(i) tse di tlhokwang mo foromong; kgotsa

(ii) tse di tlhokwang ke bothati jo bo rwalang maikarabelo.

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GOVERNMENT GAZETTE, 22 AUGUST 2017

Act No. 9 of 2017

Financial Sector Regulation Act, 2017

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# Request for further information or documents by responsible authority

114. (1) The responsible authority may, by notice in writing, require an applicant for a licence to—

(a) give the responsible authority additional information or documents specified by the responsible authority; and

(b) verify any information given by the applicant in connection with the application in a manner specified by the responsible authority.

(2) The responsible authority need not deal further with the application until the applicant has complied with the notice.

# Relevant matters for application for licence

115. The matters to be taken into account in relation to an application for a licence include—

(a) the objective of the responsible authority as set out in section 33 or 57;

(b) the financial and other resources of and available to the applicant;

(c) fit and proper person requirements applicable to the applicant and to any key person or significant owner of the applicant;

(d) the governance and risk management arrangements of the applicant; and

(e) whether the applicant made a statement that is false or misleading, including by omission, in or in relation to the application.

# Determination of applications

116. (1) The responsible authority to which an application for a licence has been made must determine the application by—

(a) granting the application and issuing a licence to the applicant; or

(b) refusing the application and notifying the applicant accordingly.

(2) The responsible authority may not grant a licence to an applicant unless satisfied 25 that—

(a) the applicant has or has available to it sufficient resources and capacity to ensure that it will comply with the requirements of financial sector laws in relation to the licence; and

(b) issuing the licence to the applicant will not be contrary to the interests of 30 financial customers, the financial sector or the public interest.

(3) (a) The responsible authority must determine an application as contemplated in subsection (1) and notify the applicant within three months after the application is made.

(b) The responsible authority may, by notice to the applicant, extend the period of three months in paragraph (a) for one or more further periods, but the total period may 35 not be more than nine months.

(c) In working out when the period mentioned in paragraph (a) or (b) expires, any period between the responsible authority giving the applicant a notice in terms of section 114 and the requirements in the notice being satisfied is not to be counted.

# Reporting obligations of licensee

40

117. (1) A licensee must promptly report any of the following to the responsible authority that issued the licence:

(a) The fact that the licensee has contravened or is contravening, in a material way—

(i) a financial sector law;

(ii) a regulator's directive or a directive in terms of section 202;

(iii) an enforceable undertaking;

(iv) an order of a court made in terms of a financial sector law; or

(v) a decision of the Tribunal;

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

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GOVERNMENT GAZETTE, 22 AUGUST 2017

No. 41060 127

Molao wa Taolo ya Lephata la Ditshelete, 2017

Nmr 9 ya 2017

# Kopo ya tshedimosetso e nngwe kgotsa dikwalo ka bothati jo bo rweleng maikarabelo