Statutes section 245

Section 245

In force date not confirmed

245. (1) Mokgatlho wa lephata la ditshelete o ka, ka kopo ka motho yo o tshwanetseng go duela tuelelo, golola motho mo go dueleng tuelelo, kgotsa karolo ya tuelelo, ka bogolo le go ya ka mabaka a a tlhomamisitsweng ke mokgatlho wa lephata la ditshelete.

(2) Kopo e e kailweng mo karolotlaleletsong (1) e tshwanetse go akaretsa dintlha tse di tlhomamisitsweng ke mokgatlho wa lephata la ditshelete.

(3) Mokgatlho wa lephata la ditshelete o ka neelana fela ka kgololo mo go dueleng tuelelo, kgotsa karolo ya tuelelo, ka mabaka a a utlwagalang.

## Taolo ya dituediso le makgethwana

246. (1) Ditueleto tse di tlhomamisitsweng go tsamaelana le karolo 237(1)(a), le morokotso o o bonweng go tswa mo ditueelong go ya ka karolo 244 di tshwanetse go kgobokanngwa ke mokgatlho wa lephata la ditshelete le go duelwa mo akhaontong ya banka e e tlhometsweng maithomo ao, eo e leng mo leineng le mo taolong ya mokgatlho wa lephata la ditshelete.

(2) Makgethwana a a duediswang go tsamaelana le karolo 237(1)(b), le morokotso o o bonweng mo makgethwaneng go ya ka karolo 244 a tshwanetse go kgobokanngwa ke Bothati jwa Boitshvaro jwa Lephata la Ditshelete le go duelwa mo akhaontong e e tlhometsweng maithomo ao, e e mo leineng le mo taolong ya Bothati jwa Boitshvaro jwa Lephata la Ditshelete.

(3) Kabo ya makgethwana a a kgobokantsweng go latela karolotlaleletso (2) a mokgatlho mongwe le mongwe wa lephata la ditshelete e tshwanetse go sutisetswa kwa akhaontong e e tlhometsweng mokgatlho wa lephata la ditshelete go tsamaelana le thulaganyo ya tuelelo e go dumalanweng ka yona magareng ga mokgatlho wa lephata la ditshelete le Bothati jwa Boitshvaro jwa Lephata la Ditshelete.

(4) Diakhaonto tsa banka tse di kailweng mo dikarolotlaleletsong (1) go fitlha go (3) di tshwanetse go rebolwa ke Matlotlo a Bosetshaba.

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

228

## Part 2

## Finances

## Finances of financial sector bodies

247. (1) The money of each financial sector body consists of—

(a) amounts received by the financial sector body as fees and levies; 5

(b) funds accruing to the financial sector body from any other source; and

(2) The money of a financial sector body may be applied only as follows:

(a) To the general administrative and operating costs of the financial sector body; 10

(b) to exercise the powers, perform the functions, and fulfil the duties of the financial sector body in terms of the financial sector laws; and

## Part 3

## Budgeting, accounting, auditing and financial reporting

248. (1) The accounting authority of the Financial Sector Conduct Authority, the Ombud Council, the Office of the Pension Funds Adjudicator, and the Office for the Ombud for Financial Services Providers is the accounting authority for the designated bank account referred to in section 246(1), and has the duties referred to in Part 2 of Chapter 6 of the Public Finance Management Act.

(2) The accounting authority of the Financial Sector Conduct Authority is the accounting authority for the designated bank account referred to in section 246(2), and has the duties referred to in Part 2 of Chapter 6 of the Public Finance Management Act.

(3) In respect of the Prudential Authority, the Chief Executive Officer is responsible for accounting for the designated bank account referred to in section 246(1).

(4) (a) The Financial Sector Conduct Authority, the Ombud Council, the Office of the Pension Funds Adjudicator, and the Office of the Ombud for Financial Services Providers must—

(i) prepare an annual budget in accordance with section 53 of the Public Finance Management Act and section 239 of this Act; 30

(ii) prepare an annual report and financial statements in accordance with section 55 of the Public Finance Management Act;

(iii) submit information as required in terms of section 54 of the Public Finance Management Act; and 35

(iv) comply with Treasury Regulations, circulars, guidelines and practice notes in terms of the Public Finance Management Act.

(b) The Tribunal, although it is not a public entity in terms of the Public Finance Management Act, must also comply with the requirements in paragraph (a).

(5) (a) The Prudential Authority must prepare an annual budget and estimates of expenditure for the financial year in accordance with section 239, and an annual report and financial accounts in accordance with section 55.

(b) The Chief Executive Officer is responsible for ensuring that the expenditure of the Prudential Authority is in accordance with its approved budget.

(6) The Prudential Authority, the Tribunal, the Ombud Council, the Office of the Pension Funds Adjudicator, and the Office of the Ombud for Financial Services Providers must provide the Financial Sector Conduct Authority with its levies that will

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GOVERNMENT GAZETTE, 22 AUGUST 2017

No. 41060 231

Molao wa Taolo ya Lephata la Ditshelete, 2017

Nmr 9 ya 2017

229

## Karolo 2

### Matlotlo

#### Matlotlo a mekgatlho ya lephata la ditshelete