Statutes section 49

Section 49

In force date not confirmed

49. (1) A member of the Prudential Committee or of a subcommittee established in terms of section 45(1) must disclose, at a meeting of the Prudential Committee or subcommittee, as the case may be, or in writing to each of the other members of that committee or subcommittee, any interest in any matter that is being or may be considered by the relevant committee that—

(a) the member has; or

(b) a person who is a related party to the member has.

(2) A disclosure referred to in subsection (1) must be given as soon as practicable after the member becomes aware of the interest.

(3) (a) A member who has, or who has a related party who has, an interest that is required to be disclosed in terms of subsection (1), may not participate in the consideration of, or decision on, a matter to which the interest relates unless—

(i) the member has disclosed the interest as required by subsection (1); and

(ii) the other members of the Prudential Committee or subcommittee have decided that the interest does not affect the proper execution of that member’s functions in relation to the matter.

(b) Any consideration of, or decision on, a matter which does not comply with paragraph (a) is void and must be reconsidered or decided without the member present.

(4) (a) Each member of the Prudential Authority’s staff and each person to whom a power or function of the Prudential Authority has been delegated must make timely, proper and adequate disclosure of their interests, including the interests of a related party, that could reasonably be seen as interests that may affect the proper execution of their functions of office or the delegated power.

(b) The Chief Executive Officer must ensure that paragraph (a) is complied with.

(5) For the purposes of this section, it does not matter—

(a) whether an interest is direct, indirect, pecuniary or non-pecuniary; or

(b) when the interest was acquired.

(6) For the purposes of this section, a person does not have to disclose—

(a) the fact that that person, or a person who is a related party to that person, is—

(i) an official or employee of the Reserve Bank; or

(ii) a financial customer of a financial institution; or

(b) an interest that is not material.

(7) A failure by a person to disclose a material interest in accordance with this section and any guidelines that may be prescribed by the Minister in terms of section 288(3) constitutes—

(a) a breach of the duties in section 46 or 52, whichever section is applicable to the person; and

(b) an offence in terms of section 265.

(8) When a person has failed to disclose a material interest in terms of this section, the Prudential Committee must publish a notice on the Prudential Authority’s website that a failure to disclose a material interest occurred, which notice must include the details of the failure.

(9) The Chief Executive Officer must maintain a register of all disclosures made in terms of this section and of all decisions made in terms of this section.

This gazette is also available free online at www.gpwonline.co.za

GOVERNMENT GAZETTE, 22 AUGUST 2017

No. 41060 79

Molao wa Taolo ya Lephata la Ditshelete, 2017

Nmr 9 ya 2017

(b) ga e amoge Bothati jwa Tlhokomelo, Komiti ya Tlhokomelo kgotsa Motlhankedimogolo wa Khuduthamaga maikarabelo mabapi le thata e e roletsweng kgotsa tiro; le

(c) e ka gogelwa morago nako nngwe le nngwe, mme kgogelomorago ga e ame ditshwanelo dipe kgotsa melato tse di bonweng ka ntlha ya ditlamorago tsa tholelo.

(6) Sengwe le sengwe se se dirwang ke moroledi go tsamaelana le tholelo go ya ka karolo eno se tshwanetse go tsewa jaaka se setse se dirilwe ke Bothati jwa Tlhokomelo.

(7) Karolo eno ga e ame thata ka fa tlase ga molao o o rileng wa lephata la ditshelete ya go rolela thata kwa Bothating jwa Tlhokomelo.

# Tshenolo ya dikgatlhegelo

49. (1) Leloko la Komiti ya Tlhokomelo kgotsa komititlaleletso e e tlhomilweng go ya ka karolo 45(1) le tshwanetse go senola, kwa kopanong ya Komiti ya Tlhokomelo kgotsa komititlaleletso, go ya ka mabaka, kgotsa ka go kwalela mongwe le mongwe wa maloko a mangwe a komiti eo kgotsa komititlaleletso, kgatlhegelo nngwe le nngwe mo morerong o o tsewang kgotsa o o tla tsewang tsia ke komiti e e maleba ya gore—

(a) leloko le na le yona; kgotsa

(b) motho yo o amanang le leloko o na le yona.

(2) Tshenolo e e kailweng mo karolotlaleletsong (1) e tshwanetse go dirwa ka bonako jo bo kgonagalang morago ga fa leloko le sena go itse ka ga kgatlhegelo.

(3) (a) Leloko le lenang le, kgotsa le wa losika la gagwe a nang le, kgatlhegelo e e tshwanetseng go senolwa go ya ka karolotlaleletso (1), le ka se tseye karolo mo tshekatshekong ya, kgotsa mo tshwetsong ya, morero o kgatlhegelo e amanang le ona ntle le fa—

(i) leloko le senotse kgatlhegelo jaaka go tlhokega go ya ka karolotlaleletso (1); le 25

(ii) maloko a mangwe a komiti eo a sweditse gore kgatlhegelo e ka se tseelwe gore e ama go dira tiro go go siameng ga leloko leo mabapi le morero.

(b) Tshekatsheko nngwe le nngwe ya, kgotsa tshwetso ya, morero o o sa ikamanyeng le temana (a) ga e amogelesege e bile e tshwanetse go sekasekwa gape kgotsa go swetswa ntle le go nna teng ga leloko.

(4) (a) Mongwe le mongwe wa leloko la badiri ba Bothati jwa Tlhokomelo le mongwe le mongwe yo o roletsweng thata ya Bothati jwa Tlhokomelo o tshwanetse go dira tshenolo ya dikgatlhegelo tsa gagwe ka nako, tshiamo le tekano, go akaretsa le dikgatlhegelo tsa letlhakore le a amanang le lona, tseo di ka tsewang jaaka dikgatlhegelo tse di ka ba amang mo go direng ditiro tsa ofisi ka tlhomamo kgotsa thata e e roletsweng. 35

(b) Motlhankedimogolo wa Khuduthamaga o tshwanetse go netefatsa gore temana (a) e a obamelwa.

(5) Mabapi le maitlhomo a karolo eno, ga go kgathalesege—

(a) gore kgatlhegelo ke e e tlhamaletseng, motsopodia, ya tshelete kgotsa e seng ya tshelete; kgotsa 40

(b) gore kgatlhegelo e fitlheletswe leng.

(6) Mabapi le maitlhomo a karolo eno, ga go tlhokege gore motho a senole—

(a) ntlha ya gore motho yoo, kgotsa motho yo e leng letlhakore la kamano go motho yoo, ke —

(i) motlhankedi kgotsa modiri wa Banka ya Resefe; kgotsa 45

(ii) morekedi wa ditshelete wa setheo sa ditshelete; kgotsa

(b) kgatlhegelo e e senang boleng.

(7) Go palelwa ga motho go senola ka ga kgatlhego go tsamaelana le karolo eno le dikaelo dingwe le dingwe tse di ka neelwang ke Tona go ya ka karolo 288(3) go nna le ditlamorago tsa—

(a) tlolo ya ditlamego mo karolong 46 kgotsa 52, karolo nngwe le nngwe e e diragatswang mo mothong; le

(b) tlolo ya molao go ya ka karolo 265.

(8) Fa motho a paletswe ke go senola kgatlhego ya gagwe go ya ka karolo eno, Komiti ya Tlhokomelo e tshwanetse go phasalatsa kitsiso mo webesaeteng ya Bothati jwa 55 Tlhokomelo e e ka ga go diragala ga go palelwa ke go senola kgatlhego.

(9) Motlhankedimogolo wa Khuduthamaga o tshwanetse go tshola rejisetara ya ditshenolo tsotlhe tse di dirilweng go ya ka karolo eno le ya ditshwetso tsotlhe tse di dirilweng go ya ka karolo eno.

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

## Part 3

## Staff, resources and financial management

### Staff and resources

50. (1) The Prudential Authority must determine the personnel, accommodation, facilities, use of assets, resources and other services that it requires to function effectively.

(2) The Prudential Authority may—

(a) enter into secondment arrangements in respect of persons;

(b) engage persons on contract otherwise than as employees;

(d) acquire or dispose of property;

(e) insure itself against any loss, damage, risk or liability that it may suffer or incur; and

(f) do anything else necessary for the performance of its functions.

(3) The Prudential Authority may not enter into a secondment arrangement in respect of a person, or engage persons on contract, unless the person and the Prudential Authority have agreed in writing on—

(a) the performance measures that will be used to assess that person’s performance; and

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

### Resources provided by Reserve Bank

51. (1) The Reserve Bank must provide the Prudential Authority with the personnel, accommodation, facilities, use of assets, resources and other services determined in accordance with section 50(1) and as agreed to by the Reserve Bank.

(2) The Reserve Bank must second the personnel that it provides in terms of subsection (1) to the Prudential Authority.

### Duties of staff members

52. (1) A person who is or has been a staff member of the Prudential Authority may not use that position or any information obtained as a staff member to—

(a) improperly benefit himself or herself or another person;

(b) impede the Prudential Authority’s ability to perform its functions; or

(2) For the purposes of this section, “benefit” and “detriment” are not limited to financial benefit or detriment.

### Financial management duties of Chief Executive Officer

53. The Chief Executive Officer must—

(a) recommend to the Prudential Committee fees for prudential supervision by, and other services provided by, the Prudential Authority in terms of this Act and other financial sector laws, and levies in terms of levies legislation;

(b) exercise the utmost care to protect the assets and records of the Prudential Authority;

(c) act with fidelity, honesty, integrity and in the best interests of the Authority in managing the financial affairs of the Prudential Authority;

(d) on request, disclose to the Minister or the Governor all material facts relating to the affairs of the Prudential Authority, including those reasonably discoverable, that in any way may influence decisions or actions of the Minister or the Governor;

(e) seek, within the Chief Executive Officer’s sphere of influence, to prevent any prejudice to the financial interests of the Republic;

This gazette is also available free online at www.gpwonline.co.za

GOVERNMENT GAZETTE, 22 AUGUST 2017

No. 41060 81

Molao wa Taolo ya Lephata la Ditshelete, 2017

Nmr 9 ya 2017

# Karolo 3

## Badiri, ditlamelo le taolo ya ditshelete

## Badiri le ditlamelo