Statutes section 289

Section 289: In this Part—

In force date not confirmed

289. In this Part—

“Appeal Board” means the Appeal Board established by section 26A of the Financial Services Board Act;

“Directorate of Market Abuse” means the Directorate of Market Abuse established by section 12 of the Insider Trading Act, 1998 (Act No. 135 of 1998) and continued in terms of the Securities Services Act, 2004 (Act No. 36 of 2004) and then the Financial Markets Act;

“Enforcement Committee” means the Enforcement Committee established in terms of section 10A of the Financial Services Board Act or section 97 of the Securities Services Act, 2004 (Act No. 36 of 2004);

“Financial Services Board” means the Financial Services Board as defined in the Financial Services Board Act; and

“Financial Services Board Act” means the Financial Services Board Act, 1990 (Act No. 97 of 1990).

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(ii) kitsiso e e laletsang ditlhagiso mabapi le Molawana e bile e tlhagisa gore ditlhagiso di ka dirwa kae, jang le gore leng; le

(iii) polelo ya mabaka a gore goreng tiego yago ikamanyeng le dikarolotlaleletso (4) le (6) e tseelwa gore eka tisa kgobelelo mo barekeding ba ditshelete kgotsa kotsi mo thulaganyong ya ditshelete, kgotsa ya fenya maikaelelo a Molawana o o tshitsintsweng; le

(b) go romelela Palamente dikwalo tse di kailweng mo temaneng (a).

(8) (a) Nako e e letleletsweng ya go dira ditlhagiso tse di kailweng mo karolotlaleletsong (7)(a)(ii) e tshwanetse go nna bonnye malatsi a le supa.

(b) Nako e e letleletsweng ya go romela ditlhagiso kwa Palamenteng jaaka go kailwe mo karolotlaleletsong (7)(b) e tshwanetse go nna bonnye malatsi a le supa, Palamente e ka tswa e kokoane kgotsa e sa kokoana.

(9) Tona o tshwanetse, morago ga go dira Molawana o o tsamaelanang le dikarolotlaleletso (7) le (8), mo malatsing a le 30 a go dira Molawana, go romelela Palamente pegelo ya kgato ya ditherisano e e kailweng mo dikarolotlaleletsong (13) go fitlha go (15).

(10) Karolo eno ga e thibele Tona mo go direng ditherisano mo godimo ga tse di tlhokegang go ya ka karolo eno.

(11) Mo go swetseng ka ga go dira Molawana, Tona o tshwanetse go tsaya tsia ditlhagiso tsotlhe tse di amogetsweng ka letlha la bofelo la nako e e kailweng mo karolotlaleletsong (5)(a) kgotsa (8)(a) le dipuisano tsa Palamete.

(12) Molawana o tsenngwa mo tirisong—

(a) ka letlha le o phasaladitsweng mo Rejisetareng ka lona; kgotsa

(b) fa Molawana o tlamela gore o tla tsenngwa mo tirisong ka letlha le le kwa moragonyana, ka letlha le le kwa moragonyana.

(13) Mabapi le Molawana mongwe le mongwe, Tona o tshwanetse go phasalatsa pegelo ya ditherisano.

(14) Pegelo ya ditherisano e tshwanetse go akaretsa—

(a) boikarabelo ka kakaretso jwa dintlha tse di tlhagisitsweng mo ditlhagisong tse di dirilweng ka nako ya ditherisano; le

(b) tsibogelo go dintlha tse di tlhagisitsweng mo ditlhagisong.

(15) Fa Tona a sa ikamanya le karolotlaleletso (4) kgotsa (6) mabapi le mabaka a a boletsweng mo karolotlaleletsong (7), pegelo ya ditherisano e tshwanetse go phasalatswa mo malatsing a le 30 morago ga go dirwa ga sediriso e bile pegelo e tshwanetse go akaretsa polelo ya mabaka a gore goreng tiego e e nnileng teng mo go ikamanyeng, kgotsa mo go ikamanyeng ka botlalo, le karolotlaleletso (4) kgotsa (6) e tseetswe gore e bakile kgobelelo mo barekeding ba ditshelete kgotsa kotsi mo thulaganyong ya ditshelete, kgotsa e fentse maikaelelo a Molawana.

Karolo 6

Ditlhabololo, diphediso, dikabelo tsa kgabaganyo le tshomarelo

Tlhaloso

289. Mo Karolong eno—

“Boto ya Boikuelo” e kaya Boto ya Boikuelo e e tlhomilweng ke karolo 26A ya Financial Services Board Act;

“Bokaedi jwa Tirisobotlhaswa ya Mmaraka” bo kaya Bokaedi jwa Tirisobotlhaswa ya Mmaraka jo bo tlhomilweng ke karolo 12 ya Insider Trading Act, 1998 (Molao 135 wa 1998) le go tsweletswa go ya ka Securities Services Act, 2004 (Molao 36 wa 2004) le Financial Markets Act ya nako eo;

“Komiti ya Kgatelelo” e kaya Komiti ya Kgatelelo e e tlhomilweng go ya ka karolo 10A ya Financial Services Board Act kgotsa karolo 97 ya Securities Services Act, 2004 (Molao 36 wa 2004);

“Boto ya Ditirelo tsa Ditshelete” e kaya Boto ya Ditirelo tsa Ditshelete jaaka e tlhalositswe mo Financial Services Board Act; le

“Molao wa Boto ya Ditirelo tsa Ditshelete” e kaya Financial Services Board Act, 1990 (Molao 97 wa 1990).

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## Amendments and repeals

290. The Acts listed in Schedule 4 are amended or repealed as set out in that Schedule.

## Transitional provision in relation to medical schemes

291. (1) The functions of the Prudential Authority in relation to medical schemes and the associated powers and duties of the Prudential Authority are, to the extent determined by, and subject to any conditions determined by, the Minister, to be exercised by the Council for Medical Schemes instead of the Prudential Authority, but with the concurrence of the Prudential Authority.

(2) The functions of the Financial Sector Conduct Authority in relation to medical schemes and the associated powers and duties of the Financial Sector Conduct Authority are, to the extent determined by, and subject to any conditions determined by, the Minister, to be exercised by the Council for Medical Schemes instead of the Financial Sector Conduct Authority, but with the concurrence of the Financial Sector Conduct Authority.

(3) A determination in terms of subsection (1) or (2) must be published.

(4) The concurrence of a financial sector regulator in terms of subsection (1) or (2) to the exercise of a particular power or the performance of a particular function or duty is not required if the financial sector regulator has agreed in writing that—

(a) the exercise of the power or the performance of the function or duty does not prejudice the achievement of its objective; and

(b) its concurrence is unnecessary.

## Transitional prudential powers of Financial Sector Conduct Authority

292. (1) This section applies for the period of three years from the date on which this section comes into effect but the Minister may, by notice in the Gazette, determine a shorter or longer period.

(2) The power of the Prudential Authority to make prudential standards, to be complied with by the following financial institutions, with respect to the safety and soundness of those financial institutions and otherwise to achieve the objectives of the Prudential Authority, is to be exercised by the Financial Sector Conduct Authority:

(a) Collective investment schemes as defined in section 1(1) of the Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002);

(b) pension funds as defined in section 1(1) of the Pension Funds Act;

(3) A prudential standard in terms of subsection (2) may only impose requirements that may be imposed under the specific financial sector law relevant to the financial institution concerned.

(4) The Financial Sector Conduct Authority may exercise its other powers in terms of financial sector laws with respect to the financial institutions referred to in subsection (2) to achieve the objective of the Prudential Authority.

(5) Subsection (3) does not affect the powers of the Financial Sector Conduct Authority in respect of a financial institution.

## Transfer of assets and liabilities of Financial Services Board

293. (1) At the date on which this section comes into effect, the assets and liabilities of the Financial Services Board cease to be assets and liabilities of the Board and become assets and liabilities of the Financial Sector Conduct Authority without any conveyance, transfer or assignment.

(2) A person or authority who, in terms of a law or of a trust instrument or in any other way is required to keep or maintain a database in relation to assets or liabilities must, and may without any application or otherwise, record in the database the transfer of the asset or liability in terms of subsection (1).

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## Ditlhabololo le diphediso