Section 142

142. (1) Bothati jo bo rwalang maikarabelo mo molaong wa lephata la ditshelete bo ka phasalatsa polelo (“tshwetso ya tlhaloso”) mabapi le tlhaloso kgotsa tiriso kabelo e tsepamisitsweng ya molao oo, mo mabakeng a a tsepamisitsweng mo polelong.

(2) Maitlhomo a tlhaloso ya tshwetso ya tlhaloso ke go ntshetsa pele tlhalosetso, tsepamo le tlhomamo mo go tlhaloseng le tirisong ya melao ya lephata la ditshelete.

(3) Bothati jo bo rwalang maikarabelo bo tshwanetse go tlhalosa le go dirisa kabelo ya molao wa lephata la ditshelete e e amanang le tshwetso ya tlhaloso go tsamaelana le tshwetso ya tlhaloso.

(4) Tlhaloso e e tlamang e khutla go diriswa fa—

(a) kabelo ya molao wa lephata la ditshelete eo e neng e le yona morero wa tshwetso ya tlhaloso e phimolwa kgotsa e tlhabololwa ka mokgwa o o amang segolo tshwetso ya tlhaloso, fa go le jalo tshwetso ya tlhaloso e tla khutlisa go dira go tloga ka letlha la go tsenngwa tirisong ga phimolo kgotsa tlhabololo; kgotsa

(b) kgotlatshekelo e phimola kgotsa fetola tlhaloso ya molao wa lephata la ditshelete o tshwetso ya tlhaloso e theilweng mo go ona, fa go le jalo tshwetso ya tlhaloso e tla khutla go dira go tloga ka letsatsi la katlholo ntle le fa—

(i) tshwetso e le ka fa tlase ga boikuelo;

(ii) tshwetso e tsepamisitswe mo ntlheng e bile tlhaloso ya kakaretso eo tshwetso ya tlhaloso e theilweng mo go yona ga e a amega; kgotsa

(iii) tshupetso go tlhaloso eo tshwetso ya tlhaloso e neng e theilwe mo go yona e ne e se karolo ya neo ya mabaka eo katlholo ya kgotlatshekelo e neng e theilwe mo go yona.

(5) Bothati jo bo rwalang maikarabelo jo bo rebolang tshwetso yathaloso bo ka tlabolola kgotsa phimola tshwetso ya tlhaloso fa go tlhokega gore go dirwe jalo ka ntlha ya phetogo mo molaong kgotsa tshwetso ya boathodi.

(6) Tlhaloso e e tlamang e khutla go diriswa fa go diragala nngwe ya mabaka a a tlhalositsweng mo karolotaleletsong (4), fa bothati jo bo rwalang maikarabelo bo phasaladitse kgotsa bo sa phasalatsa kitsiso ya kgogelomorago kgotsa phetolo ya tlhaloso e tlamang.

(7) Pele bothati jo bo rwalang maikarabelo bo rebola tshwetso ya tlhaloso, bo tshwanetse go phasalatsa—

(a) thalo ya tshwetso ya tlhaloso e tshitsintsweng; le

(b) kitsiso e e laletsang ditshwaelo tsa setshaba tse di kwetseng mo pakeng e tsepamisitsweng mo kitsisong, paka eo tshwanetse go nna bonnye kgwedi e le esi go tloga ka letlha la phasalatso ya kitsiso.

(8) Bothati jo bo rwalang maikarabelo ga bo patelesege go ikamanya le karolotaleletso (7) mabapi le tlhabololo go, kgotsa phimolo ya, tshwetso ya tlhaloso.

(9) Bothati jo bo rwalang maikarabelo jo bo rebolang tshwetso ya tlhaloso bo tshwanetse go e phasalatsa.

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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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## Part 2

## Directives by financial sector regulators

## Directives by Prudential Authority

143. (1) The Prudential Authority may issue to either of the following persons:

(a) A financial institution that provides a financial product or securities services, or that is a market infrastructure; and

(b) a key person of a financial institution,

a written directive requiring the person to take action specified in the directive if—

(i) the financial institution is conducting its business in an improper or financially unsound way and, as a result, there is a risk that the financial institution may not be able to comply with its obligations; or

(ii) the financial institution or key person of a financial institution—

(aa) has contravened or is likely to contravene a financial sector law for which the Prudential Authority is the responsible authority;

(bb) has not complied with an enforceable undertaking accepted by the Prudential Authority;

(cc) is involved or is likely to be involved in financial crime; or

(dd) is causing or contributing to instability in the financial system, or is likely to do so.

(2) The Prudential Authority may issue to a holding company of a financial conglomerate a written directive requiring the holding company to take action specified in the directive, if the holding company or another company in the financial conglomerate concerned—

(a) is conducting its business in an improper or financially unsound way and, as a result, there is a risk that an eligible financial institution in the conglomerate will not be able to comply with its obligations under a financial sector law or in relation to a financial product or financial service that it provides or offers to provide;

(b) has not complied with an enforceable undertaking accepted by the Prudential Authority;

(c) has contravened or is likely to contravene a financial sector law;

(d) is involved or is likely to be involved in financial crime; or

(e) is causing or contributing to instability in the financial system, or is likely to do so.

(3) A directive in terms of subsection (1) or (2) must be aimed at achieving the objective of the Prudential Authority set out in section 33 and—

(a) reducing any risks referred to in subsection (1)(b)(i) or (2)(a);

(b) ensuring that the financial institution or the directed person complies with the enforceable undertaking that was accepted by the Prudential Authority;

(c) stopping the financial institution or company from contravening applicable financial sector laws, or reducing the risk of such contraventions;

(d) stopping the financial institution or company from being involved in financial crime, and reducing the risk that it may be so involved;

(e) reducing the risk that a systemic event may occur; or

(f) remedying the effects of a contravention of a financial sector law or the person's involvement in financial crime.

(4) The Prudential Authority may not issue a directive to a financial institution on the basis set out in subsection (1)(b)(ii)(dd) unless it has been directed in terms of section 18 to do so or with the concurrence of the Reserve Bank.

(5) Action that may be specified in a directive in terms of subsection (1) includes the following:

(a) The financial institution ceasing offering or providing a specific financial product;

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

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GOVERNMENT GAZETTE, 22 AUGUST 2017

No. 41060 153

Molao wa Taolo ya Lephata la Ditshelete, 2017

Nmr 9 ya 2017

151

## Karolo 2

## Ditaelo tsa balaodi ba lephata la ditshelete

## Ditaelo ka Bothati jwa Tlhokomelo