Section 163

163. (1) (a) Bothati jwa Tlhokomelo bo ka, ka kitsiso go setlamo se se laolang sa setheo se se kopantsweng sa ditshelete, lopa setheo se se laolang go nna setheo se se sa direng.

(b) Kitsiso e e kailweng mo temaneng (a) e tshwanetse go—

(i) akaretsa polelo ya maithomo a le mabaka a goreng go dirilwe tshitsinyo ya gore setlamo se se laolang se nne setheo se se sa direng; le

(ii) laletsa setlamo se se laolang gore se dire ditlhagiso ka ga morero oo, le go tlamela ka nako e e lekaneng go dira jalo.

(2) Tlhokego go ya ka karolotlaleletso (1) e tshwanetse go nna ya maithomo a go laola dikotsi go polokego le itekanelo ya setheo se se matshwanedi sa ditshelete go tswa go maloko a mangwe a setheo se se kopantsweng sa ditshelete, ka nonofo.

(3) Mo go swetseng ka go pateletsa kgotsa go se pateletse tlhokego ya gore setheo se se okameng se nne setheo se se sa direng go ya ka karolotlaleletso (1), Bothati jwa Tlhokomelo bo tshwanetse go ela tlhoko ditshekatsheko tsotlhe tse di maleba, go akaretsa le bonnye tse di latelang:

(a) Dikotsi go pabalesego le tshiamo ya ditheo tsa ditshelete tse di matshwanedi tse di tswang mo ditokololong tse dingwe tsa ditheo tse di kopantsweng tsa ditshelete;

(b) ditlhagiso tse di dirilweng ke kgotsa tse di diretsweng setheo se se okameng; le

(c) merero mengwe le mengwe e e ka neelwang ka Molawana.

(4) Setheo se se laolang sa ditshelete se se neilweng kitsiso go ya ka karolotlaleletso (1) se tshwanetse go ikamanya le ditlhokego tsa kitsiso.

# Maemo a ditheo tse di kopaneng tsa ditshelete

164. (1) Thata ya Bothati jwa Tlhokomelo ya go dira maemo a a manontlhotlho e atolosetswa mo go direng maemo a tlhokomelo a go tshwanetseng go ikamanngwa le ona ke ditlamo tse di laolang tsa ditheo tse di kopantsweng tsa ditshelete.

(2) Mo go tlaleletseng dintlha tse di kailweng mo karolong 105, maemo a tlhokomelo a a kailweng mo karolotlaleletsong (1) a ka akaretsa ditlhokego mabapi le—

(a) ditshelete kgotsa dipeo mo pontsheng tse dingwe tsa ditlamo tse di mo teng ga ditheo tse di kopantsweng tsa ditshelete;

(b) dithulaganyo tsa puso le taolo tsa ditlamo tse di laolang kgotsa ditheo tse di kopantsweng tsa ditshelete;

(c) go bega tshedimosetso ka ga ditlamo tse di mo teng ga ditheo tse di kopantsweng tsa ditshelete tse o e seng ditheo tsa ditshelete; le

(d) go fokotsa kgotsa go laola dikotsi go polokego le itekanelo ya setheo se se matshwanedi sa ditshelete go tswa mo malokong a mangwe a setheo se se kopantsweng sa ditshelete.

(3) Thata ya Bothati jwa Boitshwaro jwa Lephata la Ditshelete ya go dira maemo a boitshwaro e atolosetswa mo go direng maemo ao gore go ikamanngwe le ona ke ditlamo tse di laolang tsa ditheo tse di kopantsweng tsa ditshelete.

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Act No. 9 of 2017

Financial Sector Regulation Act, 2017

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## Directives to holding companies

165. (1) The power of the Prudential Authority to issue a directive in terms of section 143 extends to issuing a directive to the holding company of a financial conglomerate imposing requirements on the holding company to manage and otherwise mitigate risks to the prudent management or financial soundness of an eligible financial institution in the conglomerate arising from other members of the conglomerate.

(2) (a) Requirements that a directive contemplated in subsection (1) may impose, include requirements with respect to restructuring the financial conglomerate in accordance with a plan submitted to the Prudential Authority by the holding company, and approved by the Prudential Authority within a period agreed by the Prudential Authority.

(b) The Prudential Authority may only issue a directive imposing requirements with respect to restructuring the financial conglomerate if the Authority is objectively satisfied that another type of directive will not achieve the result sought to be attained by requiring restructuring of the financial conglomerate.

(c) In deciding whether to issue a directive imposing requirements with respect to restructuring the financial conglomerate, the Prudential Authority must take into account all relevant considerations, including at least the following:

(i) The extent to which the existing structure of the financial conglomerate is hindering or is likely to hinder the effective supervision of the financial conglomerate concerned;

(ii) whether the restructuring of the financial conglomerate is reasonably necessary and appropriate to remedy impediments to the effective supervision of the financial conglomerate; and

(iii) submissions made by or for the holding company.

(3) The power of the Financial Sector Conduct Authority to issue a directive in terms of section 144 extends to issuing a directive to the holding company of a financial conglomerate requiring the holding company to ensure that a financial institution in the conglomerate complies with a financial sector law for which the Financial Sector Conduct Authority is the responsible authority.

## Approval and prior notification of acquisitions and disposals

166. (1) (a) A holding company of a financial conglomerate may not acquire or dispose of a material asset as defined in prudential standards made for this section, without the approval of the Prudential Authority.

(b) A prudential standard made under this subsection must clearly identify what constitutes a material asset.

(2) The Prudential Authority may not give an approval in terms of subsection (1), unless the Authority is satisfied that the acquisition or disposal will not prejudicially affect—

(a) the prudent management and the financial soundness of an eligible financial institution within the financial conglomerate;

(b) the ability of the Prudential Authority to determine —

(i) how the different types of business of the financial conglomerate are conducted;

(ii) the risks of the financial conglomerate and each person that is part of that financial conglomerate; or

(iii) the manner in which the governance framework is organised and conducted for the financial conglomerate.

(3) (a) If the Prudential Authority contemplates refusing to grant approval of an acquisition or disposal referred to in subsection (1), prior to taking a decision, the Prudential Authority must notify the holding company of the proposed refusal to grant approval.

(b) A notice referred to in paragraph (a) must—

(i) include a statement of the reasons for the refusal to grant approval; and

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# Ditaelo go ditlamo tse di laolang