Statutes section 215

Section 215

In force date not confirmed

215. (1) Setheo sa ditshelete se e leng leloko la sekema sa ombud sa bodirelo se se amogetsweng se tshwanetse go ikamanya le melawana ya go busa ya sekema.

(2) Ntle le go lekanyetsa tshwanelo nngwe le nngwe e morekedi wa setheo sa ditshelete se se abetsweng laesense seo e leng leloko la sekema sa ombud sa bodirelo se se amogetsweng a ka nnang le yona, morekedi wa ditshelete o ka gatelela tlamego e e mo karolotlaleletsong (1) mabapi le kuno ya ditshelete kgotsa tirelo ya ditshelete jaaka e kete tlamego e ne e le kabelo ya konteraka e go ya ka yona kuno ya ditshelete kgotsa tirelo ya ditshelete e neng e tlametswe go morekedi wa 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

208

## Suspension of time barring terms

216. Receipt of a complaint by a financial sector regulator, the Ombud Council or an ombud suspends any applicable time barring terms, whether in terms of an agreement or any law, or the running of prescription in terms of the Prescription Act, 1969 (Act No. 68 of 1969), for the period from the receipt of the complaint until the complaint has either been withdrawn or finally determined.

## Reporting

217. (1) An ombud scheme must—

(a) within six months after the end of each financial year, submit to the Ombud Council, in the form and with the content required by the Ombud Council, a report on the operation of the ombud scheme during the financial year, including in relation to—

(i) compliance with the financial sector laws in so far as they relate to ombud schemes;

(ii) the complaints that the ombud scheme is dealing with, and how they are being dealt with; and

(iii) the conduct of financial institutions that is giving rise to complaints; and

(b) comply with any request by the Ombud Council at any time for information about the operation of the ombud scheme, trends in and implications of the conduct of financial institutions observed by the ombud scheme, and any other relevant information.

(2) Each of the following must, on request by the Financial Sector Conduct Authority, and may at any time, provide information and reports to the Financial Sector Conduct Authority about the operation of ombud schemes and trends in and implications of the conduct of financial institutions observed by it:

(a) The Ombud Council;

(b) a statutory ombud scheme;

(3) If, in dealing with a complaint, an ombud becomes aware that there has or may have been—

(a) a contravention of a financial sector law in a material way by a financial institution; or

(b) an activity or action by a financial institution that has an effect on financial customers other than the complainant,

the ombud must report the details of the matter, including the identity of the financial institution concerned, to the Financial Sector Conduct Authority.

(4) (a) The Ombud Council must provide the Minister of Finance and the National Treasury with information, returns, documents, explanations and motivations that may be prescribed by Regulation for this section or information that the Minister of Finance or the National Treasury may request.

(b) Paragraph (a) does not require or permit the provision of information about persons identifiable from the information.

## CHAPTER 15

## FINANCIAL SERVICES TRIBUNAL

### Part 1

### Interpretation

### Definitions

218. For the purposes of this Chapter—

“decision” means each of the following:

(a) A decision by a financial sector regulator or the Ombud Council in terms of a financial sector law in relation to a specific person;

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

GOVERNMENT GAZETTE, 22 AUGUST 2017

No. 41060 211

Molao wa Taolo ya Lephata la Ditshelete, 2017

Nmr 9 ya 2017

209

# Tshekego ya dipeelo tse di beilweng tsa nako