Statutes section 72

Section 72

In force date not confirmed

72. (1) A member of the Executive Committee must disclose, at a meeting of the Executive Committee, or in writing to each of the other members, any interest in any matter that is being or is intended to be considered by him or her, whether or not at a meeting of the Executive Committee, being an interest that—

(a) the member has; or

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

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

(3) (a) A member referred to in subsection (1) may not perform a function in relation to the matter concerned unless—

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

(ii) the other members of the Executive Committee have decided that the interest does not affect the proper execution of the 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 member of a subcommittee of the Financial Sector Conduct Authority established as contemplated in section 51(1)(a)(ii) of the Public Finance Management Act or section 68(1) of this Act must disclose, at a meeting of the subcommittee, or in writing to each of the other members of that subcommittee, any interest in a matter that is being or is intended to be considered by that subcommittee, being an interest that—

(a) the member has; or

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

(5) A disclosure in terms of subsection (4) must be given as soon as practicable after the member concerned becomes aware of the interest.

(6) A member referred to in subsection (4) may not participate in the consideration of or decision on that matter by the subcommittee unless—

(a) the member has disclosed the interest in accordance with subsection (4); and

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

(7) (a) Each member of the Financial Sector Conduct Authority’s staff and each other person to whom a power or function of the Financial Sector Conduct 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 Commissioner must ensure that paragraph (a) is complied with.

(8) 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.

(9) 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 Financial Sector Conduct Authority; or

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

(b) an interest that is not material.

(10) The Commissioner must maintain a register of all disclosures made in terms of this section and of all decisions made in terms of this section.

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(b) ga e amoge Bothati jwa Boitshvaro jwa Lephata la Ditshelete, Khomisenara kgotsa Motlatsakhomisenara yo o amegang mabapi le thata kgotsa tiro e e roletsweng; le

(c) e ka gogelwa morago ka go kwala nako nngwe le nngwe, go latela ditshwanelo dingwe le dingwe tse di ka tswang di fitheletswe.

(7) Sengwe le sengwe se se dirilweng ke baemedi go ya ka tholelo se tshwanetse go tsewa jaaka se dirilwe ke Bothati jwa Boitshvaro jwa Lephata la Ditshelete.

(8) Karolo eno ga e ame thata e e ka fa tlase ga molao wa lephata la ditshelete o o rileng wa go rolela thata ya Bothati jwa Boitshvaro jwa Lephata la Ditshelete.

Tshenolo ya dikgatlhegelo 10

72. (1) Leloko la Komitikhuduthamaga le tshwanetse go senola, mo kopanong ya Khuduthamaga, kgotsa ka go kwalela go mongwe le mongwe wa maloko, kgatlhego nngwe le nngwe mo morerong o o kgotsa o a ikaeletseng go o tsaya tsia, kwa kopanong kgotsa e seng kwa kopanong ya Komitikhuduthamaga, go ka nna kgatlhegelo e—

(a) leloko le nang le yona; kgotsa 15

(b) motho yo o amanang le leloko a nang le yona.

(2) Tshenolo go ya ka karolotlaleletso (1) e tshwanetse go dirwa ka bonako jo bo kgonagalang morago ga fa leloko le le amegang le sena go lemoga ka kgatlhegelo.

(3) (a) Leloko le le kailweng mo karolotlaleletsong (1) le ka se dire tiro mabapi le morero o kailweng fa fela—

(i) leloko le senotse kgatlhegelo go tsamaelana le karolotlaleletso (1); le

(ii) maloko a mangwe a Komitikhuduthamaga a sweditse gore kgatlhegelo ga e ame ka gope go dira tiro ka matsetseleko ga leloko mabapi le morero o o amegang.

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

(4) Leloko la komitltaleletso ya Bothati jwa Boitshvaro jwa Lephata la Ditshelete jo bo tlhomilweng go ya ka karolo 51(1)(a)(ii) ya Public Finance Management Act kgotsa karolo 68(1) ya Molao ono le tshwanetse go senola, kwa kopanong ya komitltaleletso, kgotsa ka go kwalela mongwe le mongwe wa maloko a komitltaleletso, kgatlhegelo nngwe le nngwe mo morerong o o kgotsa o komitltaleletso e ikaelelang go o sekaseka, e le kgatlhego e—

(a) leloko le nang le yona; kgotsa

(b) motho yo o amanang le leloko a nang le yona.

(5) Tshenolo go ya ka karolotlaleletso (4) e tshwanetse go dirwa ka bonako jo bo kgonagalang morago ga fa leloko le le amegang le sena go lemoga ka kgatlhegelo eo.

(6) Leloko le le kailweng mo karolotlaleletsong (4) le ka se tseye karolo mo tshekatshekong ya kgotsa tshwetso ya morero oo ke komitltaleletso fa fela—

(a) leloko le senotse kgatlhegelo go tsamaelana le karolotlaleletso (4); le

(b) maloko a mangwe a komitltaleletso eo a sweditse gore kgatlhegelo eo e ka se ame ka gope go dira ditiro ka matsetseleko ga leloko mabapi le morero o o amegang.

(7) (a) Leloko lengwe le lengwe la badirimmogo ba Bothati jwa Boitshvaro jwa Lephata la Ditshelete le motho mongwe le mongwe yo o amegang mo go direng tiro ya Bothati jwa Boitshvaro jwa Lephata la Ditshelete kgotsa tiragatso ya dithata tsa jona o tshwanetse go senola ka nako, nepagalo le tlhomamo, dikgatlhegelo, go akaretsa le dikgatlhegelo tsa losika, tseo di ka amang go dira ditiro tsa bona ka matsetseleko kgotsa thata e e roletsweng.

(b) Khomisenara o tshwanetse go netefatsa gore temana (a) e a diragatswa.

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

(a) gore kgatlhegelo e tlhamaletse, ga e a tlhamalala, ya tshelete kgotsa e e seng ya tshelete; kgotsa

(b) fa kgatlhegelo e ne e fithelelwa.

(9) Mabapi le maitlhomo a karolo eno, motho ga a tshwanela go senola—

(a) ntlha ya gore motho yoo, kgotsa motho yo a amanang le ena, ke—

(i) motlhankedi kgotsa mothapiwa wa Bothati jwa Boitshvaro jwa Lephata la Ditshelete; kgotsa

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

(b) kgatlhegelo e e seng ya botlhokwa.

(10) Khomisenara o tshwanetse go tshola rejisetara ya ditshenolo tsotlhe tse di dirilweng go ya ka karolo eno le ka ga ditshwetso tsotlhe tse di dirilweng go ya ka karolo eno.

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## Part 3

## Staff and resources

73. (1) The Financial Sector Conduct Authority may, in accordance with applicable law—

(a) for the work of the Financial Sector Conduct Authority—

(i) appoint persons as employees;

(ii) enter into secondment arrangements; or

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

(b) enter into contracts;

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

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

(2) The Financial Sector Conduct Authority may not enter into a secondment arrangement in respect of a person, or engage persons as employees or on contract, unless the person and the Authority have agreed in writing on—

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

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

## Duties of staff members

74. (1) A person who is or was a staff member of the Financial Sector Conduct 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 Financial Sector Conduct 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.

## Information by Commissioner

75. (1) The Commissioner must provide the Executive Committee and the National Treasury with the information, returns, documents, explanations and motivations that may be prescribed by Regulation for this section or that the Executive Committee or the National Treasury may request.

(2) Subsection (1) does not require or permit the provision of information about persons identifiable from the information.

## CHAPTER 5

## CO-OPERATION AND COLLABORATION

## Part 1

### Co-operation and collaboration

### Co-operation and collaboration between financial sector regulators and Reserve Bank

76. (1) The financial sector regulators and the Reserve Bank must co-operate and collaborate when performing their functions in terms of financial sector laws, the National Credit Act, and the Financial Intelligence Centre Act, and must for this purpose—

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## Karolo 3

## Badiri le ditlamelwana