Statutes section 131

Section 131

In force date not confirmed

131. (1) (a) Bothati jo bo rwalang maikarabelo a molao wa lephata la ditshelete bo ka, ka kitsiso e e kwetsweng go mongwe le mongwe, kopa motho go tlamela ka tshedimosetso kgotsa lokwalo le tepamisitsweng le te tshotsweng ke, kgotsa le le ka 40 fa tlase ga taolo ya, motho yo o leng maleba mo go thuseng bothati jo bo rwalang maikarabelo go dira ditiro tsa jona go ya ka molao wa lephata la ditshelete.

(b) Setheo se se tlhokometsweng se se neilweng kitsiso go ya ka temana (a) se tshwanetse go ikamanya le ditlhokego tse di mo kitsisong.

(2) (a) Bothati jo bo rwalang maikarabelo mabapi le molao wa lephata la ditshelete bo 45 ka, ka kitsiso e e kwaletsweng setheo se se tlhokometsweng, kopa setheo se se tlhokometsweng go tlamela ka tshedimosetso e tepamisitsweng kgotsa lokwalo le tepamisitsweng leo se le tshotseng la, kgotsa le le ka fa tlase ga taolo ya sona ya, setheo se se maleba go tekanyetso ya bothati jo bo rwalang maikarabelo ya go ikamanya ka setheo se se tlhokometsweng ka, kgotsa kotsi ya ditlolo ka setheo se se tlhokometsweng sa—

(i) molao wa lephata la ditshelete;

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No. 41060

GOVERNMENT GAZETTE, 22 AUGUST 2017

Act No. 9 of 2017

Financial Sector Regulation Act, 2017

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(ii) a regulator’s directive issued by the responsible authority; or

(iii) an enforceable undertaking accepted by the responsible authority.

(b) The responsible authority may require the information or document to be verified as specified in the notice, including by an auditor approved by the responsible authority.

(c) A supervised entity that has been given a notice in terms of paragraph (a) or (b) 5 must comply with the requirements in the notice.

(3) The responsible authority for a financial sector law may, for the purpose of gathering information relevant to its functions, engage in the activity commonly called “mystery shopping” in respect of financial products or financial services, and similar activities. 10

## Part 3

## Supervisory on-site inspections

## Powers to conduct supervisory on-site inspections

132. (1) A financial sector regulator may conduct a supervisory on-site inspection at the business premises of a supervised entity with prior notification to the supervised 15 entity and, if the business premises of a supervised entity is a private residence, with the prior agreement of—

(a) the person apparently in control of the business reasonably believed to be conducted at the private residence; and

(b) the occupant of the private residence or the part of the private residence to be 20 inspected.

(2) The purpose for which a financial sector regulator may conduct a supervisory on-site inspection of a supervised entity is to—

(a) check compliance by the entity with a financial sector law for which the financial sector regulator is the responsible authority, a regulator’s directive 25 issued by the financial sector regulator or an enforceable undertaking accepted by the financial sector regulator;

(b) determine the extent of the risk posed by the entity of contraventions of a financial sector law for which the financial sector regulator is the responsible authority; and 30

(3) (a) A financial sector regulator may determine the time and place of a supervisory on-site inspection, provided that the supervisory on-site inspection must be done at a reasonable time within ordinary business hours. 35

(b) A financial sector regulator must conduct a supervisory on-site inspection with strict regard to—

(i) an affected person’s right to—

(aa) dignity;

(bb) freedom and security;

(cc) privacy; and

(dd) other constitutional rights; and

(ii) decency and good order as the circumstances require, in particular by—

(aa) conducting the supervisory on-site inspection discreetly and with due decorum; 45

(bb) causing as little disturbance as possible; and

(cc) concluding the supervisory on-site inspection as soon as possible.

(4) (a) An official of a financial sector regulator, when conducting a supervisory on-site inspection, may do any of the following:

(i) Request any person who has a specified business document that is relevant to the 50 inspection in his, her or its possession or under his, her or its control to produce that document and examine, make extracts from and copy any business document on the premises;

(ii) question any person on the premises to find out information relevant to the inspection;

(iii) give the supervised entity a written directive to produce to the financial sector regulator, at a time and place and in a manner specified in the directive, a

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No. 41060 139

Molao wa Taolo ya Lephata la Ditshelete, 2017

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(ii) taelo ya molaodi wa lephata la ditshelete e e rebotsweng ke bothati jwa lephata la ditshelete; kgotsa

(iii) tumalano e e gatelelwang e e amogetsweng ke bothati jo bo maleba.

(b) Bothati jo bo rwalang maikarabelo bo ka kopa tshedimosetso kgotsa lokwalo go netefatswa jaaka go tsepamisitswe mo kitsisong, go akaretsa le ka moruni yo o rebotsweng ke bothati jo bo rwalang maikarabelo.

(c) Setheo se se tlhokometsweng se se neetsweng kitsiso go ya ka temana (a) kgotsa (b) se tshwanetse go ikamanya le ditlhokego tse di mo kitsisong.

(3) Bothati jo bo rwalang maikarabelo jwa lephata la ditshelete bo ka, mabapi le maitlhomo a go kgobokanya tshedimosetso e e malebana le ditiro tsa jona, tsaya karolo mo tirong e e itsegeng ka “theko e e makatsang” mabapi le dikuno tsa ditshelete kgotsa ditirelo tsa ditshelete, le ditiro tse di tshwanang.

Karolo 3

Dithathobo tsa botlhokomedi tsa tirong

Dithata tsa go dira ditathathobo tsa botlhokomedi tsa tirong 15