Statutes section 34

Section 34

In force date not confirmed

34. (1) Gore bo fitlhele maitlhomo a jona, Bothati jwa Tlhokomelo bo tshwanetse—

(a) go laola le go tlhokomela, go tsamaelana le melao ya lephata la ditshelete—

(i) ditheo tsa ditshelete tse di tlamelang ka dikuno tsa ditshelete kgotsa ditirelo tsa dithoto; le

(ii) dithulaganyetso tsa popegotheo ya mmaraka;

(b) go dirisana mmogo le, le go thusa Banka ya Resefe, Komiti ya Kelotlhoko ya Tlhomamo ya Ditshelete, Bothati jwa Boitshwar o jwa Lephata la Ditshelete, Bolaodi jwa Bosetshaba jwa Sekoloto le Senthara ya Botlhodi jwa Ditshelete, jaaka go tlhokega go ya ka Molao ono; 35

(d) go tshegetsa kgaisano ya leruri mo kabelong ya dikuno tsa ditshelete le ditirelo tsa dithoto, go akaretsa le tirisanommogo le kopano le Khomisene ya Kgaisano;

(e) go tshegetsa tsenyeletso ya ditshelete;

(f) thadiso ya ka gale ya modiko le boteng jwa Bolaodi jwa lephata la ditshelete, le go tsaya dikgato go fokotsa dikotsi tse di supilweng mo go fitlheleleng maitlhomo a bona kgotsa mo go direng ditiro tsa bona ka matsetseleko; le

(g) go dira le go phasalatsa patlisiso e tsa malianang le maitlhoma a jona. 45

(2) Bothati jwa Tlhokomelo bo tshwanetse go dira tiro nngwe le nngwe e bo e abetsweng go ya ka kabelo nngwe le nngwe ya Molao ono kgotsa molawana mongwe le mongwe.

(3) Bothati jwa Tlhokomelo bo ka dira sengwe le sengwe se se tlhokegang go fitlhelela maitlhomo a jona, go akaretsa le—

(a) go dirisana mmogo le badiri-ka-bona mo ditaolong tse dingwe; le

(b) go tsaya karolo mo bolaoding jwa boditshabatshaba, botlhokomeding, tsepamong ya ditshelete le mo mekgatlhong e e bayang maemo.

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) When performing its functions, the Prudential Authority must—

(a) take into account the need for a primarily pre-emptive, outcomes focused and risk-based approach, and prioritise the use of its resources in accordance with the significance of risks to the achievement of its objective; and

(b) to the extent practicable, have regard to international regulatory and supervisory standards set by bodies referred to in subsection (3)(b), and circumstances in the Republic.

(5) The Prudential Authority must perform its functions without fear, favour or prejudice.

Part 2

Governance

Overall governance objective

35. The Prudential Authority must manage its affairs in an efficient and effective way, and establish and implement appropriate and effective governance systems and processes, having regard to, among other things, internationally accepted standards and practices in these matters.

Appointment of Chief Executive Officer

36. (1) The Governor must, with the concurrence of the Minister, appoint a Deputy Governor who has appropriate expertise in the financial sector, other than the Deputy Governor responsible for financial stability, as the Chief Executive Officer of the Prudential Authority.

(2) When appointing a Deputy Governor as the Chief Executive Officer, that Deputy Governor and the Governor must agree, in writing, on—

(a) the performance measures that will be used to assess the Deputy Governor’s performance as the Chief Executive Officer; and

(b) the level of performance to be achieved against those performance measures.

(3) A person may not be appointed or hold office as the Chief Executive Officer if the person—

(a) is a disqualified person; or

(b) is not ordinarily resident in the Republic.

Role of Chief Executive Officer

37. (1) The Chief Executive Officer—

(a) is responsible for the day-to-day management and administration of the Prudential Authority; and

(b) subject to section 42(b), must perform the functions of the Prudential Authority, including exercising the powers and carrying out the duties associated with those functions.

(2) When acting in terms of subsection (1), the Chief Executive Officer must implement the policies and strategies adopted by the Prudential Committee.

Term of office of Chief Executive Officer