Statutes section 54

Section 54

In force date not confirmed

54. (1) Motlhankedimogolo wa Khuduthamaga o tshwanetse go tlamela Komiti ya Tlhokomelo le Matlotlo a Bosetshaba ka tshedimosetso, dipoelo, dikwalo, ditlhaloso le ditshegetso tse di ka neelwang ke Molawana wa karolo eno kgotsa eo e ka kopiwang ke Komiti ya Tlhokomelo kgotsa Matlotlo a Bosetshaba.

(2) Karolotlaleletso (1) ga e tlhoke kgotsa dumelele kabelo ya tshedimosetso ka ga batho ba ba ka supiwang go tswa mo tshedimosetsong.

## Dipegelo tsa ngwaga le diakhaonto tsa ditshelete

55. (1) Motlhankedimogolo wa Khuduthamaga o tshwanetse go—

(a) netefatsa gore direkoto tse di feletseng tsa nnete tsa merero ya ditshelete tsa Bothati jwa Tlhokomelo di a tsholwa le go tlhokomelwa;

(b) baakanya diakhanto tsa ditshelete tsa Bothati jwa Tlhokomelo ngwaga mongwe le mongwe wa ditshelete tse di tla nnang karolo ya pegelo ya ngwaga ya Banka ya Resefe; le

(c) romelela Tona mo dikgweding tse tlhano morago ga bokhutlo jwa ngwaga mongwe le mongwe wa ditshelete, mabapi le go di baya fa pele ga Kokoano Bosetshaba pegelo ya ngwaga e e ka ga ditiro tsa Bothati jwa Tlhokomelo mo ngwageng oo wa ditshelete, go akaretsa le dintlha tsa morero mongwe le mongwe tse di ka neelwang ke Molawana wa karolo eno.

(2) Diakhanto tsa ditshelete tsa Bothati jwa Tlhokomelo tse di kailweng mo karolotlaleletsong (1)(b)—

(a) di tshwanetse go senolwa mo pegelong ya Banka ya Resefe ka mokgwa o o bontshang ditshenyegelo ka tlhamalalo tse di tswang kwa Bothating jwa Tlhokomelo; e bile

(b) di ka senolwa ka mokgwa wa mametlelelo go pegelo ya ngwaga ya Banka ya Resefe.

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No. 41060

GOVERNMENT GAZETTE, 22 AUGUST 2017

Act No. 9 of 2017

Financial Sector Regulation Act, 2017

# CHAPTER 4

# FINANCIAL SECTOR CONDUCT AUTHORITY

## Part 1

### Establishment, objective and functions

#### Establishment

56. (1) The Financial Sector Conduct Authority is hereby established, as a juristic person.

(2) The Authority is a national public entity for the purposes of the Public Finance Management Act, and despite section 49(2) of the Public Finance Management Act, the Commissioner is the accounting authority of the Financial Sector Conduct Authority for the purposes of that Act.

#### Objective

57. The objective of the Financial Sector Conduct Authority is to—

(a) enhance and support the efficiency and integrity of financial markets; and

(b) protect financial customers by—

(i) promoting fair treatment of financial customers by financial institutions; and

(ii) providing financial customers and potential financial customers with financial education programs, and otherwise promoting financial literacy and the ability of financial customers and potential financial customers to make sound financial decisions; and

#### Functions

58. (1) In order to achieve its objective, the Financial Sector Conduct Authority must—

(a) regulate and supervise, in accordance with the financial sector laws, the conduct of financial institutions;

(b) co-operate with, and assist, the Reserve Bank, the Financial Stability Oversight Committee, the Prudential Authority, the National Credit Regulator, and the Financial Intelligence Centre, as required in terms of this Act;

(d) promote, to the extent consistent with achieving the objective of the Financial Sector Conduct Authority, sustainable competition in the provision of financial products and financial services, including through co-operating and collaborating with the Competition Commission;

(e) promote financial inclusion;

(f) regularly review the perimeter and scope of financial sector regulation, and take steps to mitigate risks identified to the achievement of its objective or the effective performance of its functions;

(g) administer the collection of levies and the distribution of amounts received in respect of levies;

(h) conduct and publish research relevant to its objective;

(i) monitor the extent to which the financial system is delivering fair outcomes for financial customers, with a focus on the fairness and appropriateness of financial products and financial services and the extent to which they meet the needs and reasonable expectations of financial customers; and

(j) formulate and implement strategies and programs for financial education for the general public.

(2) In relation to a financial institution that is a credit provider regulated in terms of the National Credit Act, the Financial Sector Conduct Authority may, in addition to regulating and supervising the financial institution in respect of the financial services

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

GOVERNMENT GAZETTE, 22 AUGUST 2017

No. 41060 85

Molao wa Taolo ya Lephata la Ditshelete, 2017

Nmr 9 ya 2017

# KGAOLO 4

# BOTHATI JWA BOITSHWARO JWA LEPHATA LA DITŠHELETE

Karolo 1

Thlomo, maikaelelo le ditiro

## Thlomo