Statutes section 154

Section 154

In force date not confirmed

154. (1) Pele go dirwa taelo ya kganelo mabapi le motho ka esi, bothati jo bo rwalang maikarabelo bo tshwanetse go—

(a) naya motho ka esi thalo ya taelo ya kganelo le go molaodi yo mongwe wa lephata la ditshelete, mmogo le mabaka a le tshedimosetso e nngwe e e maleba ka ga, kganelo e tshitsintsweng; le

(b) laletsa motho ka esi go dira ditlhagiso ka ga ntlha eo, le go mo naya nako e e lekaneng go dira jalo.

(2) Nako e e kailweng go ya ka karolotlaleletso (1)(b) e tshwanetse go nna bonnye kgwedi e le esi.

(3) Mo go swetseng ka ga go dira kgotsa go se dire taelo ya kganelo mabapi le motho ka esi, bothati jo bo rwalang maikarabelo bo tshwanetse go tsaya tsia bonnye—

(a) tlhagiso nngwe le nngwe e e dirilweng ke, kgotsa mo boemong jwa, motho ka esi; le

(b) kgakololo nngwe le nngwe go tswa kwa molaoding yo mongwe wa lephata la ditshelete.

## Fa motho a sa kgone go fitlhelelwa

155. Fa bothati jo bo rwalang maikarabelo morago ga go tsaya dikgato tse di maleba, go akaretsa le ka mokgwa wa seeleketeroniki, bo sa kgone go fitlhelela motho gore a newe lokwalo kgotsa tshedimosetso ka fa tlase ga karolo 154 kgotsa taelo ya kganelo, thomelo ya lokwalo kgotsa tshedimosetso kwa atereseng ya motho e e itsegeng ya bofelo ya imeile kgotsa ya kgwebo kgotsa ya bodulo e tla lekana.

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

No. 41060

GOVERNMENT GAZETTE, 22 AUGUST 2017

Act No. 9 of 2017

Financial Sector Regulation Act, 2017

162

## Part 6

## Leniency agreements

### Leniency agreements

156. (1) The responsible authority for a financial sector law may, in exchange for a person's co-operation in an investigation or in proceedings in relation to conduct that contravenes or may contravene that law, enter into a leniency agreement with the person, which may provide that the responsible authority undertakes not to impose an administrative penalty on the person in respect of the conduct.

(2) A leniency agreement with a person may provide that the agreement also applies to—

(a) specified persons in the service of, or acting on behalf of, the person; or

(b) specified partners and associates of the person.

(3) The responsible authority may not enter into a leniency agreement with a person unless it is satisfied that it is appropriate to do so, having regard, among other matters, to—

(a) the nature and effect of the contravention concerned;

(b) the nature and extent of the person's involvement in the contravention; and

(4) The responsible authority that enters into a leniency agreement must publish it, unless the responsible authority determines that the publication may—

(a) create an unjustifiable risk to the safety of a person; or

(b) prejudice an investigation into a contravention of a law.

(5) The responsible authority that enters into a leniency agreement may, by notice to the person with whom it entered into the agreement, terminate the agreement—

(a) if the person agrees;

(b) if the person gave the responsible authority false or misleading information in relation to entering into the agreement;

(d) in circumstances specified in the agreement.

## CHAPTER 11

## SIGNIFICANT OWNERS

## Part 1

## Significant owners

### Significant owners

157. (1) Subject to subsections (3) and (4), a person is a significant owner of a financial institution if the person, directly or indirectly, alone or together with a related or inter-related person, has the ability to control or influence materially the business or strategy of the financial institution.

(2) Without limiting subsection (1), a person has the ability referred to in that subsection if—

(a) the person, directly or indirectly, alone or together with a related or inter-related person, has the power to appoint 15% of the members of the governing body of the financial institution;

(b) the consent of the person, alone or together with a related or inter-related person, is required for the appointment of 15% of the members of a governing body of the financial institution; or

(c) the person, directly or indirectly, alone or together with a related or inter-related person, holds a qualifying stake in the financial institution.

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

GOVERNMENT GAZETTE, 22 AUGUST 2017

No. 41060 165

Molao wa Taolo ya Lephata la Ditshelete, 2017

Nmr 9 ya 2017

163

## Karolo 6

## Ditumalano tsa kutlwelobotlhoko