Statutes section 151

Section 151

In force date not confirmed

151. (1) Motho o ka neelana ka tumalano e e kwetsweng go bothati jo bo rwalang maikarabelo mabapi le boitshvaro jwa nako e e tlang jwa motho mabapi le ntlha e e 45 laolwang ke molao wa lephata la ditshelete, le tumalano eo, fa e amogelwa ke bothati jo bo maleba, e nna sediriso sa molao se se gatelewang ke bothati jo bo rwalang maikarabelo jaaka go kailwe mo Molaong ono.

(2) Tumalano e e kwetsweng e e kailweng mo karolotlaleletsong (1) e ka akaretsa tumalano go tlamela ka pusetso e tsepamisitsweng ya maemo kwa tlwaelong go 50 barekedi ba ditshelete.

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No. 41060

GOVERNMENT GAZETTE, 22 AUGUST 2017

Act No. 9 of 2017

Financial Sector Regulation Act, 2017

(3) The person who gave an enforceable undertaking may, with the consent of the responsible authority, vary or withdraw the undertaking at any time, except if the undertaking is already a subject of enforcement.

(4) If a financial institution licensed under a specific financial sector law that gave an enforceable undertaking breaches a term of the undertaking, the responsible authority may suspend or withdraw the licence.

(5) The responsible authority must publish each enforceable undertaking that it accepts, and each variation or withdrawal of an enforceable undertaking.

(6) If the Tribunal is satisfied, on application by the responsible authority, that a person has contravened an enforceable undertaking, the Tribunal may make any one or more of the following orders:

(a) An order directing the person to comply with the undertaking;

(b) if the undertaking relates to a past contravention of the financial sector law, an order directing the person to perform a specified act, or refrain from performing a specified act, for one or both of the following purposes:

(i) to remedy the effects of the contravention;

(ii) to ensure that the person does not contravene the undertaking again;

(7) The responsible authority may file with the registrar of a competent court a certified copy of an order in terms of subsection (6), if—

(a) the order has not been complied with; and

(b) either—

(i) no proceedings in a court in relation to the making of the order have been commenced by the end of the period for lodging such appeals; or

(ii) if such proceedings have been commenced, they have been finally disposed of.

(8) The order, on being filed, has the effect of a civil judgment, and may be enforced as if lawfully given in that court.

## Part 4

## Court orders

## Compliance with financial sector laws

152. (1) The responsible authority for a financial sector law may commence proceedings against a person in the High Court for an order to ensure compliance with the financial sector law.

(2) The High Court may make an order in terms of subsection (1)—

(a) if it appears to the High Court that the person is engaging, or proposes to engage, in conduct contravening a financial sector law;

(b) if the person has previously engaged in such conduct;

(c) if there is a danger of substantial or irreparable damage, prejudice or harm if the person engages in conduct contravening a financial sector law; or

(d) even if another remedy is available.

(3) The High Court may not require the responsible authority to give any undertaking as to damages in connection with the application for an order in terms of this section.

(4) The responsible authority must publish each court order, other than interlocutory orders, that it obtains in terms of this section.

## Part 5

## Debarment

153. (1) The responsible authority for a financial sector law may make a debarment order in respect of a natural person if the person has—

(a) contravened a financial sector law in a material way;

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GOVERNMENT GAZETTE, 22 AUGUST 2017

No. 41060 161

Molao wa Taolo ya Lephata la Ditshelete, 2017

Nmr 9 ya 2017

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(3) Motho yo o neetseng tumalano e e gatelelwang o ka, ka tumelelo ya bothati jo bo rwalang maikarabelo, farologantsha kgotsa gogela morago tumalano ka nako nngwe le nngwe, ntle le fa tumalano e setse e le ntlha e e gatelelwang.

(4) Fa setheo sa ditshelete se abetswe laesense ka fa tlase ga molao o o tsepameng wa lephata la ditshelete o o neetseng tumalano e e gatelelwang se tlola peelo ya tumalano, bothati jo bo rwalang maikarabelo bo ka emisa kgotsa gogela morago laesense.

(5) Bothati jo bo rwalang maikarabelo bo tshwanetse go phasalatsa tumalano nngwe le nngwe e gatelwang eo bo e amogelang, le pharologantsho nngwe le nngwe kgotsa kgogelomorago ya tumalano e gatelwang.

(6) Fa Lekgotla le kgotsofetse, mo tirisong ka bothati jo bo rwalang maikarabelo, gore 10 motho o tlotse tumalano e gatelwang, Lekgotla le ka dira e le nngwe kgotsa go feta ya ditaelo tse di latelang:

(a) Taelo e e laelang motho go ikamanya le tumalano;

(b) fa tumalano e amana le tlolo e e fetileng ya molao wa lephata la ditshelete, taelo e e laelang motho go dira tiro e tsepamisitsweng, ka e le nngwe ya 15 kgotsa ka bobedi jwa maitlhomo a a latelang:

(i) go namola ditlamorago tsa tlolo;

(ii) go netefatsa gore motho ga a tlole tumalano gape;

(7) Bothati jo bo rwalang maikarabelo bo ka faela le mokwadisi wa kgotlatshekelo e 20 e nang le bokgoni kgatiso e e kanetsweng ya taelo go ya ka karolotlaleletso (6), fa—

(a) go sa ikamanngwa le taelo; le

(b) ka gongwe—

(i) go se ditsamaiso tse di dirilweng kwa kgotlatshekelong tsa boikuelo kgatihanong le tiragatso ya taelo mo bokhutlong jwa paka e e neilweng 25 mabapi le go dira boikuelo joo; kgotsa

(ii) fa boikuelo joo bo setse bo dirilwe, kwa bokhutlong boikuelo bo diragaditswe.

(8) Taelo, mo go faelweng, e na le poelo mo katlholong ya selegae, e bile e ka gatelelwa jaaka e kete e neilwe semolao kwa kgotlatshekelong eo. 30

Karolo 4

Ditaelo tsa Kgotlatshekelo

Go ikamanya le molao ya lephata la ditshelete