Statutes section 143

Section 143

In force date not confirmed

143. (1) Bothati jwa Tlhokomelo bo ka rebola go mongwe wa batho ba ba latelang:

(a) Setheo sa ditshelete se se tlamelang ka kuno ya ditshelete kgotsa ditirelo tsa dithoto, kgotsa ba e leng thulaganyetso ya popegotheo; le

(b) motho yo o botlhokwa wa setheo sa ditshelete,

taelo e e kwetsweng e e tlhokang motho go tsaya kgato e e tsepamisitsweng mo taelong fa—

(i) setheo sa ditshelete se dira tiro ya sona ka mokgwa o o sa siamang kgotsa wa tsamaiso ya ditshelete e e sokameng le, ka ntlha ya seo, go na le kotsi ya gore setheo sa ditshelete se ka se kgone go ikamanya le ditlamego tsa sona; kgotsa

(ii) setheo sa ditshelete kgotsa motho wa botlhokwa wa setheo sa ditshelete—

(aa) a tlotse kgotsa a ka tlola molao wa lephata la ditshelete o Bothati jwa Tlhokomelo bo tsayang maikarabelo a ona;

(bb) a sa ikamanyang le tumalano e e gatelelwang e e amogetsweng ke Bothati jwa Tlhokomelo;

(cc) yo o amanang kgotsa o o ka amanang le bosenyi jwa ditshelete; kgotsa

(dd) o dira kgotsa o na le seabe mo go sa tsepamang ga thulaganyo ya ditshelete, kgotsa o ka dira jalo.

(2) Bothati jwa Tlhokomelo bo ka rebolela kgwebo e e okameng tse dingwe taelo e e kwetsweng e e lopang kgwebo e e okameng tse dingwe go tsaya kgato e tsepamisitsweng mo taelong fa kgwebo e e okameng tse dingwe kgotsa setlamo se sengwe mo dikgwebong tsa ditshelete tse di tlhakaneng—

(a) se dira tiro ya sona ka mokgwa o o sa siamang kgotsa wa tsamaiso ya ditshelete e e sokameng le, ka ntlha ya seo, go na le kotsi ya gore setheo sa ditshelete se se mo ditheong tse di tlhakaneng se ka se kgone go ikamanya le ditlamego tsa jona;

(b) se sa ikamanya le tumalano e e gatelelwang e e amogetsweng ke Bothati jwa Tlhokomelo;

(d) se amega kgotsa se ka amega mo bosenying jwa ditshelete; kgotsa

(e) se tlisa kgotsa se na le seabe mo go sa tsepamang ga thulaganyo ya ditshelete, kgotsa se ka dira jalo.

(3) Taelo go ya ka karolotlaleletso (1) kgotsa (2) e tshwanetse go lebiswa mo go dithheleleng maikaelelo a Bothati jwa Tlhokomelo a a tlhagisitsweng mo karolong 33 le—

(a) go fokotsa dikotsi dingwe le dingwe tse di kailweng mo karolotlaleletsong (1)(b)(i) kgotsa (2)(a);

(b) go netefatseng gore setheo sa ditshelete kgotsa motho yo o laetsweng o ikamanya le tumalano e e gatelelwang e e amogetsweng ke Bothati jwa Tlhokomelo;

(c) go thibela setheo tsa ditshelete kgotsa setheo se se tlolang melao e e diriswang; ya lephata la ditshelete, kgotsa go fokotsa kotsi ya ditlolo tseo;

(d) go thibela setheo sa ditshelete kgotsa setlamo mo go amegeng mo bosenying jwa ditshelete, le go fokotsa kotsi ya gore se ka amega jalo;

(e) go fokotsa kotsi ya gore tiragalo e e rulagantsweng e ka diragala; kgotsa

(f) go namola ditlamorago tsa tlolo ya molao wa ditshelete kgotsa botsayakarolo jwa motho mo bosenying jwa ditshelete.

(4) Bothati jwa Tlhokomelo bo ka se rebole taelo go setheo sa ditshelete go ya ka mabaka a a tlhalositsweng mo karolotlaleletsong (1)(b)(ii)(dd) ntle le fa bo laetswe jalo go ya ka karolo 18 kgotsa go ya ka tumalano ya Banka ya Resefe.

(5) Tiro e e ka tsepamiswang mo taelong go ya ka karolotlaleletso (1) e akaretsa tse di latelang:

(a) Setheo sa ditshelete se se khutlisang go neelana kgotsa go tlamela ka kuno e tsepameng ya ditshelete;

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No. 41060

GOVERNMENT GAZETTE, 22 AUGUST 2017

Act No. 9 of 2017

Financial Sector Regulation Act, 2017

(b) the financial institution modifying a specific financial product or the terms on which it is provided;

(d) the financial institution not paying a dividend or a specified bonus or performance payment;

(e) the financial institution not entering into a specific transaction or undertaking a specific obligation, contingent or otherwise;

(f) the financial institution remedying the effects of a contravention of a financial sector law.

(6) In addition to its powers to issue regulator’s directives, if a person is engaging, or is proposing to engage, in conduct that contravenes a financial sector law for which the Prudential Authority is the responsible authority, the Prudential Authority may issue a written directive to the person requiring the person to cease engaging, or not to engage, in the conduct.

# Directives by Financial Sector Conduct Authority

144. (1) The Financial Sector Conduct Authority may issue to a financial institution a written directive requiring the financial institution to take action specified in the directive if—

(a) the financial institution is conducting its business in a way that poses a material risk to the efficiency and integrity of financial markets;

(b) the financial institution’s treatment of its financial customers is such that the institution will not be able to comply with its obligations in relation to the fair treatment of financial customers;

(c) the financial institution is providing financial education in a manner that is not in accordance with relevant conduct standards;

(d) the financial institution or a key person, representative or contractor of the financial institution—

(i) has contravened or is likely to contravene a financial sector law for which the Financial Sector Conduct Authority is the responsible authority;

(ii) has not complied with an enforceable undertaking accepted by the Financial Sector Conduct Authority;

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

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

(2) The Financial Sector Conduct Authority may issue to a key person, a representative or a contractor of a financial institution (in this section, a “directed person”) a written directive requiring the directed person to take action specified in the directive if the financial institution or the directed person—

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

(b) has not complied with an enforceable undertaking accepted by the Financial Sector Conduct Authority;

(d) 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 Financial Sector Conduct Authority set out in section 57 and—

(a) stopping the financial institution or the directed person from contravening applicable financial sector laws, or reducing the risk of such contraventions;

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

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

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GOVERNMENT GAZETTE, 22 AUGUST 2017

No. 41060 155

Molao wa Taolo ya Lephata la Ditshelete, 2017

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(b) setheo sa ditshelete se se fetolang kuno e tsepameng ya ditshelete kgotsa dipeelo tseo e tlametsweng ka tsona;

(d) setheo sa ditshelete se se sa dueleng karolelo kgotsa bonase e tsepamisitsweng kgotsa tuelo ya tiro;

(e) setheo sa ditshelete se se sa tseneng mo tirisanong e tsepameng kgotsa se se sa direng tumalano ya tlamego e tsepameng, ya tshoganyetso kgotsa ka mokgwa mongwe;

(f) setheo sa ditshelete se se namolang ditlamorago tsa tlolo ya molao wa lephata la ditshelete.

(6) Mo godimo ga dithata tsa jona tsa go rebola ditaelo tsa molaodi, fa motho a dira, kgotsa a tshitsinya go dira, tlolo ya maitsholo jwa molao wa lephata la ditshelete o Bothati jwa Tlhokomelo e leng bothati jo bo rwalang maikarabelo a ona, Bothati ba Tlhokomelo bo ka rebolela motho taelo e kwetsweng e e lopang motho go emisa go dira kgotsa go se direng, maitsholo ao.

## Ditaelo ka Bothati jwa Boitshvaro jwa Lephata la Ditshelete