Section 276

276. (1) If—

(a) a financial institution commits an offence in terms of a financial sector law; and

(b) a member of the governing body of the financial institution failed to take all reasonably practicable steps to prevent the commission of the offence, the member of the governing body commits the like offence, and is liable on conviction to a penalty not exceeding the penalty that may be imposed on the financial institution for the offence.

(2) If—

(a) a key person of a financial institution engages in conduct that amounts to a contravention of a financial sector law; and

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GOVERNMENT GAZETTE, 22 AUGUST 2017

No. 41060 249

Molao wa Taolo ya Lephata la Ditshelete, 2017

Nmr 9 ya 2017

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(b) Motlhankedi kgotsa modiri yo o tlolang molao o o kaiweng mo karolotlaleletsong (1)(b) fa a bonwe molato o tshwanetswe ke kotlhao ya tuelo e e sa feteng R5 000 000, kgotsa go tswalelwa kwa kgolegelong sebaka se sa feteng dingwaga tse tlhano, kgotsa go duediswa le go tshwarwa goo ka bobedi.

(3) Moruni yo o tlolang karolo 252 o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuelo e e sa feteng R5 000 000.

(4) Motho yo o tlolang karolo 254 o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuelo e e sa feteng R5 000 000, kgotsa go tswalelwa kwa kgolegelong sebaka se sa feteng dingwaga tse tlhano, kgotsa go duediswa le go tshwarwa goo ka bobedi.

(5) Motho yo o tlolang peelo e e neetsweng go ya ka karolo 280 o tlola molao e bile fa a bonwe molato o tshwanetswe ke kotlhao ya tuelo e e sa feteng R5 000 000.

Tshedimosetso e e fosagetseng kgotsa e e timetsang