Section 251

251. (1) (a) Molaodi wa lephata la ditshelete kgotsa Banka ya Resefe o na le tlamego le tiro ya go—

(i) fitlelela maikaelelo a yona jaaka go tlhagitswe mo Molaong ono;

(ii) fitlelela maikaeleloa melao ya lephata la ditshelete;

(iii) dira ditiro tsa gagwe, go akaretsa ditiro tsa gagwe tsa botlhokomedi, go ya ka melao ya lephata la ditshelete le Financial Intelligence Centre Act.

(b) Molaodi wa lephata la ditshelete kgotsa Banka ya Resefe o tshwanetese go kgobokanya loe go dirisa tshedimosetso, go akaretsa le tshedimosetso ya bowena jaaka e tlhalositswe mo Protection of Personal Information Act, go fitlela molaodi wa lephata la ditshelete kgotsa Banka ya Resefe a tlhomamisa gore go botlhokwa go dira ka nepagalo ditlamego le ditiro tse di kailweng mo temaneng (a).

(c) Molaodi wa lephata la ditshelete kgotsa Banka ya Resefe o ka arogana kgotsa a senola tshedimosetso gore a diragatse ditlamego le ditiro tsa gagwe go ya ka karolotlaleletso eno le karolotlaleletso (2), e bile ditshenolo kgotsa karogano ya tshedimosetso mabapi le maithomo mangwe le mangwe di na le karogano kgotsa tshenolo ya tshedimosetso mabapi le maithomo a a sa dumelelwang, jaaka go kailwe mo karolong 272.

(2) (a) Molaodi wa lephata la ditshelete kgotsa Banka ya Resefe o tshwanetese go senola tshedimosetso e e kailweng mo karolotlaleletsong (1)(b) fa molaodi wa lephata la ditshelete kgotsa Banka ya Resefe e tlhomamisa gore go botlhokwa go ikamanya le ditlamego tsa yona—

(i) go dira ditiro tsa gagwe go ya ka, kgotsa jaaka a kgontshitswe ke, melao ya lephata la ditshelete kgotsa Financial Intelligence Centre Act;

(ii) tse di amanang le ditsamaiso tsa semolao kgotsa ditsamaiso tse dingwe;

(iii) go tsibosa barekedi ba ditshelete kgatihanong le go dira kgwebo le setheo sa ditshelete kgotsa motho yo mongwe yo o dirang ditiro tse di kgatihanong le melao ya lephata la ditshelete kgotsa Financial Intelligence Centre Act;

(iv) go itsise barekedi ba ditshelete ka ga dikgato tse di tserweng kgatihanong le setheo sa ditshelete go ya ka melao ya lephata la ditshelete kgotsa Financial Intelligence Centre Act;

(v) go lemosa barekedi ba ditshelete ka ga ditiro tse di dirilweng ke setheo sa ditshelete se molaodi wa ditshelete kgotsa Banka ya Resefe a dumelang gore di ka lere kotsi mo barekeding ba ditshelete;

(vi) go sireletsa dikgatlhego tsa setshaba;

(vii) go se kgothaletse, thibele, batlisise, bege le go rarabolola tsietso kgotsa ditiro tse dingwe tsa bosenyi mabapi le dikuno tsa ditshelete kgotsa ditirelo tsa ditshelete; kgotsa

(viii) mabapi le maithomo a a kgatihanong le go gweba ka madi le twantsho ya tshegetso ya ditshelete go borukhutli.

(b) Tshedimosetso e e bonweng go ya ka Financial Intelligence Centre Act, ntle le go ya ka dikarolo 45 le 45B tsa Molao oo, e ka diriswa fela kgotsa senolwa go tsamaelana le dikarolo 29, 40 le 41 tsa Molao oo.

(3) Molaodi wa lephata la ditshelete kgotsa Banka ya Resefe, mo go fitleleleng maithomo a a kailweng mo karolotlaleletsong (1)(a) le (2)(a), e ka—

(a) ikgolaganya le bothati bongwe le bongwe jo bo thapilweng mabapi le merero ya kgatlhego e e tshwanang;

(b) tsaya karolo mo ditsamaisong tsa bothati bongwe le bongwe jo bo thapilweng;

(c) gakolola kgotsa amogela kgakololo go tswa go bothati bongwe le bongwe jo bo thapilweng;

(d) pele ga go dira tiro ya bolaodi e molaodi wa lephata la ditshelete kgotsa Banka ya Resefe bo tseelang gore e botlhokwa kgatihanong le setheo sa ditshelete, itsise bothati bongwe le bongwe jo bo thapilweng gore molaodi wa lephata la ditshelete kgotsa Banka ya Resefe, jaaka mabaka a ntse, wa tiro e e letilweng ya bolaodi kgotsa, fa seno se ka se kgonagale, itsise bothati jo bo thapilweng ka bonako jo bo kgonegang morago ga go dira tiro ya bolaodi; le

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(e) negotiate and enter into bilateral or multilateral co-operation agreements, including memoranda of understanding, with designated authorities, including designated authorities in whose countries a subsidiary or holding company of a financial institution is incorporated or a branch is situated, to, among other matters—

(i) co-ordinate and harmonise the reporting and other obligations of financial institutions;

(ii) provide mechanisms for the exchange of information, including provisions requiring or permitting a financial sector regulator, the Reserve Bank or a designated authority—

(aa) to be informed of adverse assessments in respect of financial institutions; or

(bb) to provide or receive information regarding significant problems that are being experienced within a financial institution;

(iii) provide procedures for the co-ordination of supervisory activities to facilitate the monitoring of financial institutions, including on an on-going basis; and

(iv) assist any designated authority in regulating and enforcing any laws that the designated authority is responsible for supervising and enforcing, that are similar to a financial sector law or which have an impact on the regulation of the financial sector and financial institutions.

(4) (a) Information may only be disclosed by a financial sector regulator or the Reserve Bank to a designated authority if, before disclosing the information, the financial sector regulator or the Reserve Bank is satisfied that the designated authority that receives the information has proper and effective safeguards in place to protect the information, which safeguards are similar to those provided for in this section.

(b) A financial sector regulator or the Reserve Bank may only consent to information that is provided to a designated authority being made available to third parties if it is satisfied that the third parties have proper safeguards in place to protect the information received, which safeguards are similar to those provided for in this section.

(c) A financial sector regulator or the Reserve Bank may only request information from a designated authority in connection with the performance of obligations and duties in terms of the laws referred to in subsections (1) and (2).

(d) Information provided on request to a designated authority in terms of this section—

(i) must only be used by the designated authority for the purpose for which it was requested;

(ii) may not be disclosed to a third party without the consent of the designated authority that provided the information; and

(iii) must retain its integrity and confidentiality, and the designated authority that receives the information must take appropriate, reasonable technical and organisational measures to prevent loss of, damage to, or unauthorised destruction of the information, and unlawful access to or processing of the information.

(e) If, despite paragraph (d), a designated authority is compelled by law to disclose information provided by another designated authority to a third party, the first designated authority must—

(i) inform that designated authority of the event and the circumstances in which the information shall be made available; and

(ii) use all reasonable means to oppose the compulsion to disclose, and otherwise to protect the information.

(5) When sharing or disclosing information in terms of subsection (3) or (4), a financial sector regulator or the Reserve Bank must comply with the requirements in those subsections, and a contravention of those requirements constitutes the sharing or disclosure of information in a manner that is not authorised, as referred to in section 272.

(6) (a) A financial sector regulator or the Reserve Bank must have in place written processes and procedures that—

(i) clearly specify which officials and employees in the financial sector regulator or the Reserve Bank are authorised to share or disclose information in terms of this section; and

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(e) rerisana le go tsena mo ditumalanong tsa tirisanommogo tsa sebedi kgotsa bontsi, go akaretsa le memorantamo wa tumalano, le bothati jo bo thapilweng, go akaretsa bothati jo bo thapilweng joo mo dinageng tsa jona kgwebo e e okangweng kgotsa e e okameng tse dingwe ya setheo sa ditshelete e kopantsweng kgotsa lekala le tlhomilweng, go, magareng ga tse dingwe—

(i) golaganya le go kopanya go bega le ditlamego tse dingwe tsa ditheo tsa ditshelete;

(ii) tlamela ka mekgwa ya thefosano ya tshedimosetso, go akaretsa le kabelo e e tlhokang kgotsa letlang molaodi wa lephata la ditshelete, Banka ya Resefe kgotsa bolaodi jo bo thapilweng—

(aa) go sedimosetswa ka tekanyetso e e kgatihanong mabapi le ditheo tsa ditshelete; kgotsa

(bb) go tlamela kgotsa amogela tshedimosetso e e mabapi le mathata a a botlhokwa a a itemogelwang mo setheong sa ditshelete;

(iii) tlamela ka ditsamaiso tsa go golaganya ditiro tsa tlhokomelo go nolofatsa tlhokomelo ya ditheo tsa ditshelete, go akaretsa ka nako le nako; le

(iv) thusa bothati bongwe le bongwe jo bo thapilweng mo go laoleng le go gateleleng melao mengwe le mengwe ya gore bothati jo bo thapilweng bo rwala maikarabelo a go tlhokomela le go gatelela, e e tshwanang le molao wa lephata la ditshelete kgotsa e e nang le seabe mo go laoleng lephata la ditshelete le ditheo tsa ditshelete.

(4) (a) Tshedimosetso e ka senolwa fela ke molaodi wa lephata la ditshelete kgotsa Banka ya Resefe go bothati jo bo thapilweng fa, pele tshedimosetso e senolwa, molaodi wa lephata la ditshelete kgotsa Banka ya Resefe e kgotsofetse gore bothati jo bo thapilweng jo bo amogelang tshedimosetso bo na le mekgwa e e maleba e e nonofileng ya go sireletsa tshedimosetso, mekgwa eo e tshwanang le e e tlametsweng mo karolong eno.

(b) Molaodi wa lephata la ditshelete kgotsa Banka ya Resefe o ka dumelela fela gore tshedimosetso e tlametsweng bothati jo bo thapilweng e abelwe mekgatlho ya boraro fa fela a kgotsofetse gore mekgatlho ya boraro e na le mekgwa ya go sireletsa tshedimosetso e e amogetsweng, mekgwa e e tshwanang le e tlametsweng mo karolong eno.

(c) Molaodi wa lephata la ditshelete kgotsa Banka ya Resefe o ka kopa fela tshedimosetso mo bothating jo bo thapilweng mabapi le tiro ya ditiro le go diragatswa ga dithata go ya ka melao e e kailweng mo dikarolotlaleletsong (1) le (2).

(d) Tshedimosetso e tlametsweng go ya ka kopo go bothati jo bo thapilweng go ya ka karolo eno—

(i) e tshwanetse go diriswa fela ke bothati jo bo thapilweng mabapi le maitlhomo ao e a kopetsweng;

(ii) e ka se senolelwe mokgatlho wa boraro ntle le tumelelo ya bothati jo bo thapilweng jo bo tlametseng ka tshedimosetso; le

(iii) e tshwanetse go busetsa tshiamo le boitshepo jwa jona, e bile bothati jo bo thapilweng jo bo amogelang tshedimosetso bo tshwanetse go tsaya dikgato tse di maleba, ka mabaka a a utlwagalang a a rulaganeng go thibela tatlhegelo ya, tshenyegelo go kgotsa tshenyo e e sa dumelelwang ya tshedimosetso, le phitlhelelo e e seng mo molaong ya kgotsa tsamaiso ya tshedimosetso.

(e) Fa, ntle le temana (d), bothati jo bo thapilweng bo pateletsa ke molao go senola tshedimosetso e tlametsweng ke bothati jo bongwe jo bo thapilweng go mokgatlho wa boraro, bothati jo bo thapilweng jwa ntlha bo tshwanetse—

(i) go itsise gore bothati jo bo thapilweng jwa tiragalo le mabaka ao tshedimosetso e tla dirwang gore e nne teng ka ona; le

(ii) dirisa mekgwa yotlhe e e maleba go ganetsa kgapeletso ya go senola, le go sireletsa tshedimosetso.

(5) Fa go aroganwa kgotsa senolwa tshedimosetso go ya ka karolotlaleletso (3) kgotsa (4), molaodi wa lephata la ditshelete kgotsa Banka ya Resefe e tshwanetse go ikamanya le ditlhokego tse di mo dikarolotlaleletsong tseo, e bile tlolo ya ditlhokego tseo e na le ditlamorago tsa karogano kgotsa tshenolo ya tshedimosetso ka mokgwa o o sa dumelelwang, jaaka go kailwe mo karolong 272.

(6) (a) Molaodi wa lephata la ditshelete kgotsa Banka ya Resefe o tshwanetse go tshola dikgato tse di kwetsweng le ditsamaiso tse di—

(i) tlhagisang ka tlhamalalo gore ke batlhankedi le badiri bafe mo bolaoding jwa lephata la ditshelete kgotsa Banka ya Resefe ba ba dumeletsweng go arogana kgotsa senola tshedimosetso go ya ka karolo eno; le

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(ii) provide for the sharing or disclosure of information in a manner that is consistent with the requirements of this section and the Protection of Personal Information Act.

(b) The processes and procedures referred to in paragraph (a) must grant authority to share or disclose information only to officials and employees who have an appropriate degree of seniority in the institution.

(c) Only an official or employee of a financial sector regulator or the Reserve Bank who is authorised by the policy and procedures of the financial sector regulator or the Reserve Bank may share or disclose information on behalf of the financial sector regulator or the Reserve Bank.

(7) For the purposes of this section, “information” does not include aggregate statistical data or information that does not disclose the identity of a person.

## Reporting by auditors to financial sector regulators

252. (1) (a) An auditor of a licensed financial institution, or of a holding company of a financial conglomerate must, without delay, submit a detailed written report to the Prudential Authority, the governing body of the financial institution and, in the case of a financial conglomerate, the holding company of the financial institution, about any matter relating to the business of the financial institution or a company within the conglomerate, being a matter—

(i) which the auditor becomes aware of in the course of performing functions and duties as auditor; and

(ii) that the auditor considers—

(aa) is causing or is likely to cause the financial institution to be financially unsound;

(bb) is contravening or may contravene a financial sector law; or

(cc) may result in an audit not being completed or may result in a qualified or adverse opinion on accounts.

(b) An auditor must also submit any report or other document or particulars about the matter contemplated in section 45(1)(a) and (3)(c) of the Auditing Profession Act, 2005 (Act No. 26 of 2005), to the Prudential Authority.

(2) An auditor of a licensed financial institution or of a holding company of a financial conglomerate who resigns or whose appointment is terminated must submit to the Prudential Authority—

(a) a written statement on the reasons for resignation or the reasons that the auditor believes are the reasons for the termination; and

(b) any report contemplated in section 45(1)(a) and (3)(c) of the Auditing Profession Act, 2005 (Act No. 26 of 2005), that the auditor would, but for the resignation or termination, have had reason to submit.

(3) (a) The furnishing, in good faith, by an auditor of a report or information under subsection (1) or (2) is not a contravention of a law, a breach of a contract or a breach of a code of professional conduct.

(b) A failure, in good faith, by an auditor to comply with this section does not confer upon any person a right of action against the auditor.

## Reporting to financial sector regulators