Statutes section 29

Section 29

In force date not confirmed

29. (1) (a) Mmusisi o ka, ka kitsiso e e kwaletsweng setheo sa ditshelete, tlhoma setheo jaaka setheo sa ditshelete se se botlhokwa mo thulaganyong.

(b) Thata ya Mmusisi go ya ka temana (a) ga e rolelwe.

(2) Pele go tlhongwa setheo sa ditshelete go ya ka karolotlaleletso (1) jaaka setheo sa ditshelete se se botlhokwa mo thulaganyong, Mmusisi o tshwanetse go—

(a) naya Komiti ya Kelotlhoko ya Tlhomamo ya Ditshelete, morago ga moo setheo sa ditshelete, kitsiso ya tlhomo e tshitsintsweng le polelo ya mabaka a gore goreng tlhomo e tshitsintse; le

(b) laletsa setheo sa ditshelete go dira ditlhagiso ka ga morero, le go se naya nako e e lekaneng go dira seo.

(3) Mo go swetseng ka ga go tlhongwa ga setheo sa ditshelete go ya ka karolotlaleletso (1), Mmusisi o tshwanetse go tsaya tsia bonnye tse di latelang:

(a) Bogolo jwa setheo sa ditshelete;

(b) tharaano ya setheo sa ditshelete le merero ya sona ya kgwebo;

(d) a go na le dikemisetso tse di baakantsweng tsa dikuno tsa ditshelete le ditirelo tsa ditshelete tse di tlamelwang ke setheo sa ditshelete;

(e) dikatlanegiso tsa Komiti ya Kelotlhoko ya Tlhomamo ya Ditshelete;

(f) ditlhagiso tse di dirilweng ke kgotsa mababi le setheo; le

(g) merero mengwe le mengwe e e ka newang ke Molawana.

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

(4) (a) If the Governor has determined in terms of section 14(4) that a systemic event has occurred or is imminent, the Governor may designate a financial institution as a systemically important financial institution without complying, or complying fully, with subsection (2) or (3).

(b) If the Governor acts in terms of paragraph (a) and designates a financial institution 5 without complying, or complying fully, with subsection (2) or (3), the financial institution may make submissions on the designation to the Governor within 30 days after being notified of the designation.

(c) The Governor must consider any submissions in terms of paragraph (b) and, by notice to the financial institution, either confirm or revoke the designation. 10

(5) The designation of a financial institution as a systemically important financial institution does not imply, or entitle the financial institution to, a guarantee or any form of credit or other support from any organ of state.

(6) The Governor may, in writing, revoke a designation made in terms of this section.

(7) A designation, and the revocation of a designation, in terms of this section must be 15 published.

## Prudential standards and regulator’s directives in respect of systemically important financial institutions

30. (1) To mitigate the risks that systemic events may occur, the Reserve Bank may, after consulting the Prudential Authority, direct the Prudential Authority to impose, 20 either through prudential standards or regulator’s directives, requirements applicable to one or more specific systemically important financial institutions or to such institutions generally in relation to any of the following matters:

(a) Solvency measures and capital requirements, which may include requirements in relation to counter-cyclical capital buffers; 25

(b) leverage ratios;

(d) organisational structures;

(e) risk management arrangements, including guarantee arrangements;

(f) sectoral and geographical exposures; 30

(g) required statistical returns;

(h) recovery and resolution planning; and

(i) any other matter in respect of which a prudential standard or regulator’s directive may be made that is prescribed by Regulations made for this section on the recommendation of the Governor. 35

(2) The Prudential Authority may make prudential standards or issue regulator’s directives as contemplated in subsection (1).

(3) The Prudential Authority must notify the Reserve Bank and the Financial Stability Oversight Committee of any steps taken to enforce a prudential standard made or a regulator’s directive issued in terms of subsection (2), and the effect of those steps. 40

## Winding-up and similar steps in respect of systemically important financial institutions