Statutes section 19

Section 19

In force date not confirmed

19. (1) Fa Mmusisi go ya ka karolo 14(4) a tlhomamisitse gore tiragalo e e rulaganeng e diregile kgotsa e ka direga, lephata la puso le le diragatsang dithata tsa lona mabapi le thulaganyo ya ditshelete le ka se, ntle le thebolo ya Tona, ka go dira ka therisano le leloko la Kabinete le le rweleng maikarabelo a lephata leo, diragatse dithata tsa lona ka mokgwa o o sa tsamaelaneng le tshwetso kgotsa dikgato tse di tserweng ke Mmusisi kgotsa Banka ya Resefe go ya ka Karolo eno, gore go laolwe tiragalo eo e e rulaganeng kgotsa ditlamorago tsa tiragalo eo e e rulaganeng.

(2) Dintlha dingwe le dingwe tse di sa rarabololwang magareng ga Tona le leloko leo la Kabinete di tshwanetse go romelwa kwa Kabineteng.

(3) Karolotlaleletso (1) ga e diragatswe mo balaoding ba lephata la ditshelete.

## Karolo 3

## Komiti ya Kelotlhoko ya Tlhomamo ya Ditshelete

## Go tlhongwa ga Komiti ya Kelotlhoko ya Tlhomamo ya Ditshelete

20. (1) Komiti e e bidiwang Komiti ya Kelotlhoko ya Tlhomamo ya Ditshelete e a tlhongwa.

(2) Maitlhomomagolo a Komiti ya Kelotlhoko ya Tlhomamo ya Ditshelete ke go—

(a) tshegetsa Banka ya Resefe fa Banka ya Resefe e dira ditiro tsa yona mabapi le tlhomamo ya ditshelete; le

(b) nolofatsa tirisanommogo le kgolagano magareng ga, le kopanyo ya tiro 50 magareng ga, balaodi ba lephata la ditshelete le Banka ya Resefe mabapi le merero e e amanang le tlhomamo ya ditshelete.

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

## Functions of Financial Stability Oversight Committee

21. The Financial Stability Oversight Committee has the following functions:

(a) To serve as a forum for representatives of the Reserve Bank and of each of the financial sector regulators to be informed, and to exchange views, about the activities of the Reserve Bank and the financial sector regulators regarding financial stability; 5

(b) to make recommendations to the Governor on the designation of systemically important financial institutions;

(i) steps to be taken to promote, protect or maintain, or to manage or prevent risks to, financial stability; and

(ii) matters relating to crisis management and prevention;

(d) to make recommendations to other organs of state regarding steps that are appropriate for them to take to assist in promoting, protecting or maintaining, or managing or preventing risks to financial stability; and 15

(e) any other function conferred on it in terms of applicable legislation.

## Membership

22. (1) The Financial Stability Oversight Committee consists of the following members:

(a) The Governor; 20

(b) the Deputy Governor responsible for financial stability matters;

(d) the Commissioner;

(e) the Chief Executive Officer of the National Credit Regulator;

(f) the Director-General; 25

(g) the Director of the Financial Intelligence Centre; and

(h) a maximum of three additional persons appointed by the Governor.

(2) A member of the Financial Stability Oversight Committee referred to in terms of subsection (1)(h) holds office for the period, and on the terms, determined by the Governor. 30

## Administrative support by Reserve Bank

23. (1) The Reserve Bank must provide administrative support, and other resources, including financial resources, for the effective functioning of the Financial Stability Oversight Committee.

(2) The Reserve Bank must ensure that minutes of each meeting of the Financial Stability Oversight Committee are kept in a manner determined by the Governor.

## Meetings and procedure

24. (1) The Financial Stability Oversight Committee must meet at least every six months.

(2) The Governor—

(a) may convene a meeting of the Financial Stability Oversight Committee at any time; and

(b) must convene a meeting if requested to do so by the Chief Executive Officer, the Commissioner or the Chief Executive Officer of the National Credit Regulator. 45

(3) (a) The Governor chairs a meeting of the Financial Stability Oversight Committee at which the Governor is present.

(b) If the Governor is not present at a meeting, the Deputy Governor responsible for financial stability matters chairs the meeting.

(4) (a) A member of the Financial Stability Oversight Committee who is unable to attend a meeting may, after notice to the other members and with the concurrence of the person who will chair the meeting, nominate an alternate to attend that meeting in the member’s absence.

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

GOVERNMENT GAZETTE, 22 AUGUST 2017

No. 41060 59

Molao wa Taolo ya Lephata la Ditshelete, 2017

Nmr 9 ya 2017

# Ditiro tsa Komiti ya Kelotlhoko ya Tlhomamo ya Ditshelete