Statutes section 219

Section 219

In force date not confirmed

219. (1) The Financial Services Tribunal is hereby established to reconsider, in terms of this Chapter, decisions as defined in section 218 and to perform the other functions conferred on it by this Act and specific financial sector laws.

(2) The Tribunal—

(a) is independent;

(b) must be impartial and exercise its powers without fear, favour or prejudice;

(d) must perform its function in accordance with this Act and the specific financial sector laws.

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(b) tshwetso ka motlamedi wa ditirelo tsa ditshelete tse di amogetsweng, jaaka go tlhalositswe mo karolong 1 ya Financial Advisory and Intermediary Services Act, go ya ka karolo 14 ya Molao oo mabapi le motho yo o rileng;

(c) tshwetso e e mabapi le motho yo rileng ka thulaganyetso ya popegotheo ya mmaraka, eo e leng tshwetso go ya ka melawana ya thulaganyetso ya popegotheo ya mmaraka e e tlhalositsweng ke Financial Markets Act, kgotsa tshwetso e e tlhalositsweng mo karolong 105 ya Financial Markets Act;

(d) tshwetso ya ombud wa semolao go ya ka molao wa lephata la ditshelete mabapi le ngongorego e e rileng ka motho;

(e) tshwetso ya mofuta o o rileng e e neetsweng ke Molawana mabapi le maitlhomo a temana eno, ebile e akaretsa—

(f) tlogelo go tsaya tshwetso eo mo nakong e e beilweng kgotsa tsepamisitsweng mo molaong wa lephata la ditshelete, melawana, kgotsa ditlhokego tse dingwe tse di amanang le motho yo o tsereng tshwetso;

(g) tlogelo ya go tsaya tshwetso eo mo nakong e e lekaneng, fa molao wa lephata la ditshelete o o maleba, kgotsa melwanaya, kgotsa ditlhokego tse dingwe tse di amanang le motho yo o tsereng tshwetso di tlhoka gore go tsewe tshwetso fela ntle le go baya kgotsa go tsepamisa nako;

(h) kgato e e tserweng ka ntlha ya tshwetso eo; le

(i) tlogelo ya go tsaya tshwetso ka ntlha ya tshwetso eo mo nakong e e beilweng kgotsa e e lekaneng, fa molao wa lephata la ditshelete o o amogetsweng o tlhoka gore kgato e tsewe mme o sa neelane ka nako, mme ga o akaretse—

(j) tshwetso e molaodi wa lephata la ditshelete a kaelwang go e tsaya go ya ka karolo 18(2) kgotsa 30(1);

(k) tshwetso ya go diragatsa kelotlhoko ya botlhokomedi jwa kwa setsheng kgotsa patlisiso;

(l) tshekatsheko ya lekgethwana le le reboletsweng motho yo o rileng; kgotsa

(m) tshwetso e e neilweng ke Melawana e e diritsweng temana eno; 30

“motho yo o tsayang tshwetso” o kaya—

(a) mabapi le tshwetso ka molaodi wa lephata la ditshelete, molaodi wa lephata la ditshelete;

(b) mabapi le tshwetso ka Khansele ya Ombud, Khansele ya Ombud;

(c) mabapi le tshwetso e e kailweng mo temaneng (b) ya tlhaloso ya “tshwetso” mo karolong eno, motlamedi wa ditirelo tsa ditshelete yo o amogetsweng;

(d) mabapi le tshwetso e e kailweng mo karolong (c) ya tlhaloso ya “tshwetso” mo karolong eno, thulaganyetso ya popegotheo ya mmaraka;

(e) mabapi le tshwetso ka ombud wa semolao, ombud wa semolao; le

(f) mabapi le tshwetso e e kailweng mo temaneng (e) ya tlhaloso ya “tshwetso” mo karolong eno, motho yo o supilweng mo Melawaneng jaaka motho yo o tsayang tshwetso.

Karolo 2

Lekgotla la Ditirelo tsa Ditshelete

Go tlhongwa le tiro ya Lekgotla la Ditirelo tsa Ditshelete 45

219. (1) Lekgotla la Ditirelo tsa Ditshelete le a tlhongwa go sekasekagape, go ya ka Kgaolo eno, ditshwetso jaaka di tlhalositswe mo karolong 218 le go dira ditiro tse dingwe tse le bo di abetsweng ke Molao ono le melao ya lephata la ditshelete e e rileng.

(2) Lekgotla—

(a) le ikemetse;

(b) le tshwanetse go se tseye letlhakore le go diragatsa dithata tsa lona ntle le letshogo, kgethololo kgotsa kgobelelo;

(d) le tshwanetse go dira ditiro tsa lona go tsamaelana le Molao ono le melao e tsepameng ya lephata la ditshelete. 55

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Financial Sector Regulation Act, 2017

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## Members of Tribunal

220. (1) The Tribunal consists of as many members, appointed by the Minister, as the Minister may determine.

(2) The Tribunal members must include—

(a) at least two persons who are retired judges, or are persons with suitable expertise and experience in law; and

(b) at least two other persons with experience or expert knowledge of financial products, financial services, financial instruments, market infrastructures or the financial system.

(3) A person may not be appointed to, or hold office as, a Tribunal member if the person—

(a) is a disqualified person; or

(b) is not a citizen of the Republic or is not ordinarily resident in the Republic.

(4) The Minister must appoint a Tribunal member referred to in subsection (2)(a) as the Chairperson, and may appoint another Tribunal member as Deputy Chairperson.

(5) The Chairperson—

(a) must preside at meetings of the Tribunal; and

(b) is responsible for managing the work of the Tribunal effectively.

(6) The Deputy Chairperson performs the functions of the Chairperson on delegation by the Chairperson, or in the absence of the Chairperson, or if for any reason the office of the Chairperson is vacant.

## Term of office and termination of membership

221. (1) A Tribunal member holds office for—

(a) three years from the date of the member’s appointment; or

(b) if a shorter period is specified in the appointment of the Tribunal member, that shorter period.

(2) A Tribunal member may be re-appointed at the expiry of a term.

(3) A person may resign as a Tribunal member by giving at least three months written notice to the Minister, or a shorter period of notice that the Minister may accept.

(4) The Minister must terminate a person’s appointment as a Tribunal member if the member becomes a disqualified person.

(5) The Minister may terminate a person’s appointment as a Tribunal member if—

(a) the member is unable to perform the functions of office for health or other reasons; or

(b) an independent inquiry established by the Minister has found that the member—

(i) has failed in a material way to discharge any of the responsibilities of office; or

(ii) has acted in a way that is inconsistent with continuing to hold the office.

(6) If an independent inquiry has been established in terms of subsection (5)(b) in relation to a member, the Minister may suspend the member from office pending a decision on the removal of the member.

(7) A Tribunal member holds office on terms and conditions, including as to remuneration, not inconsistent with this Act, determined by the Minister.

## Staff and resources

222. (1) The Chairperson may, in accordance with applicable law—

(a) for the work of the Tribunal—

(i) appoint persons as employees;

(ii) enter into secondment arrangements; or

(iii) engage persons on contract otherwise than as employees;

(b) enter into contracts;

(d) insure the Tribunal against any loss, damage, risk or liability that it may suffer or incur; and

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# Maloko a Lekgotla