Statutes section 174

Section 174

In force date not confirmed

174. (1) Ntle le mo mabakeng a a neetsweng ke maemo a a kopantsweng, motho o ka se dumalane go se tseye maikarabelo kgotsa go duela motho yo mongwe, ka tlhamalalo kgotsa e seng ka tlhamalalo, ka botlalo kgotsa e seng ka botlalo, mabapi le tuelo e e dirilweng kgotsa molato o o iponetsweng ke motho yo mongwe mabapi le tuelo ya kotlhao ya tsamaiso e e pateleditsweng motho yo mongwe.

(2) Tumalano go ya ka karolotlaleletso (1) ga e na ditlamorago dipe.

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182 No. 41060

GOVERNMENT GAZETTE, 22 AUGUST 2017

Act No. 9 of 2017

Financial Sector Regulation Act, 2017

180

## CHAPTER 14

## OMBUDS

## Part 1

## Ombud Council

### Ombud Council

175. (1) The Ombud Council is hereby established.

(2) The Ombud Council is a juristic person.

(3) The Ombud Council is a national public entity for the purposes of the Public Finance Management Act, and notwithstanding section 49(2) of the Public Finance Management Act, the Chairperson of the Ombud Council is the accounting authority of the Ombud Council for the purposes of that Act. 10

### Objective

176. The objective of the Ombud Council is to assist in ensuring that financial customers have access to, and are able to use, affordable, effective, independent and fair alternative dispute resolution processes for complaints about financial institutions in relation to financial products, financial services, and services provided by market infrastructures. 15

### Functions of Ombud Council

177. (1) In order to achieve its objective, the Ombud Council must—

(a) recognise, in accordance with this Chapter, industry ombud schemes; 20

(b) promote co-operation between, and co-ordination of, the activities of ombuds;

(d) promote public awareness of ombuds and ombud schemes and the services they provide;

(e) take steps to facilitate access by financial customers to appropriate ombuds; 25

(f) publicise ombud schemes, including publicising the kinds of complaints that different ombud schemes deal with;

(g) resolve, in accordance with this Act, overlaps of the jurisdictional coverage of different ombud schemes;

(h) monitor the performance of ombud schemes, including the extent to which they comply with the requirements of this Chapter and specific financial sector laws; and

(i) support financial inclusion.

(2) The Ombud Council must also perform any other function conferred on it in terms of any other provision of this Act or other applicable legislation. 35

(3) The Ombud Council may do anything else reasonably necessary to achieve its objective.

(4) The Ombud Council must perform its functions without fear, favour or prejudice.

### Overall governance objective

178. The Ombud Council must— 40

(a) manage its affairs in an efficient and effective way; and

(b) establish and implement appropriate and effective governance systems and processes.

### Board of Ombud Council

179. (1) A Board for the Ombud Council is hereby established. 45

(2) The Board consists of—

(a) the Chief Ombud;

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

GOVERNMENT GAZETTE, 22 AUGUST 2017

No. 41060 183

Molao wa Taolo ya Lephata la Ditshelete, 2017

Nmr 9 ya 2017

181

# KGAOLO 14

# OMBUDS

Karolo 1

# Khansele ya Ombud

## Khansele ya Ombud