Statutes section 123

Section 123

In force date not confirmed

123. (1) (a) Pele bothati jo bo rwalang maikarabelo bo farologanya, sekega kgotsa 35 phimola laesense, bo tshwanetse go—

(i) naya moabelwalaesense kitsiso ya kgato e tshitsintsweng le polelo ya mabaka a yona; le

(ii) laletsa moabelwalaesense go dira ditlhagiso ka ga ntlha eno, le go mo naya nako e e lekaneng go dira jalo. 40

(b) Paka e e kailweng mo temaneng (a)(ii) e tshwanetse go nna bonnye kgwedi e le esi.

(c) Bothati jo bo rwalang maikarabelo ga bo tlhoke go ikamanya le temana (a) fa moabelwalaesense a dirile kopo ya kgato e tshitsintsweng gore e tsewe.

(2) Mo go swetseng ka go farologanya, sekega kgotsa phimola laesense, bothati jo bo rwalang maikarabelo bo tshwanetse go tsaya tsia ditlhagiso tsotlhe tse di dirilweng mo 45 pakeng e tsepamisitsweng mo kitsisong go ya ka karolotlaleletso (1)(a)(ii).

(3) Fa tiego e tsa maelana ng le go ikamanya, kgotsa go ikamanya ka gotlhe, le karolotlaleletso (1)(a) mabapi le kgato e tshitsintsweng e na le bokgoni jwa go gobelela barekedi ba ditshelete, ya ama tlhomamo ya ditshelete ka kgobelelo kgotsa ya fenya maikaelelo a kgato, bothati jo bo rwalang maikarabelo bo ka tsaya kgato ntle le go 50 ikamanya, kgotsa go ikamanya ka botlalo, le karolotlaleletso eo.

(4) (a) Fa bothati jo bo rwalang maikarabelo bo tsaya kgato ntle le go ikamanya, kgotsa go ikamanya ka botlalo, le karolotlaleletso (1)(a) go ya ka mabaka a a kailweng mo karolotlaleletsong (3), moabelwalaesense o tshwanetse go abelwa polelo e e kwetsweng ya mabaka a gore goreng go sa ikamanngwa le karolotlaleletso eo. 55

(b) Moabelwalaesense o ka dira ditlhagiso go bothati jo bo rwalang maikarabelo mo kgweding e le esi morago ga go abelwa polelo.

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134 No. 41060

GOVERNMENT GAZETTE, 22 AUGUST 2017

Act No. 9 of 2017

Financial Sector Regulation Act, 2017

(c) The responsible authority must consider the submissions, and notify the licensee, as soon as practicable, whether the responsible authority proposes to amend or revoke the variation, suspension or revocation.

## Applications for licences

124. (1) The responsible authority may, in writing, determine procedures and requirements for applications. 5

(2) Requirements determined in terms of subsection (1) may include requirements with respect to—

(a) the institutional form of an applicant;

(b) an applicant’s business activities; 10

(d) fit and proper person requirements; and

(e) an applicant’s operational, management, governance and risk management arrangements.

(3) An application to the responsible authority for the purposes of this Part must be made in accordance with the relevant procedures in terms of subsection (1). 15

(4) The responsible authority must publish requirements determined in terms of subsection (1).

## Part 3

Provisions relating to all licences under financial sector laws 20

## Application

125. This Part applies in relation to licences in terms of all financial sector laws.

## Concurrence of financial sector regulators on licensing matters

126. (1) The responsible authority may not take any of the actions specified in subsection (2) unless— 25

(a) the other financial sector regulator has concurred; and

(b) if the action relates to or affects a systemically important financial institution, the Reserve Bank has also concurred.

(2) The actions are—

(a) issuing a licence; 30

(b) varying, suspending or revoking a licence, however these are described in the relevant financial sector law; and

## Compulsory disclosure of licences

127. (1) A licensed financial institution must comply with the applicable requirements of a prudential standard, a conduct standard and a joint standard in relation to the identification of relevant licences under financial sector laws in business documentation, including advertisements and other promotional material. 35

(2) A licensed financial institution must make its licence or a copy of its licence available at no cost to any person on request. 40

## Publication