Statutes section 98
Section 98
In force date not confirmed
98. (1) A regulatory instrument must not be made unless the maker—
(a) has published—
(i) a draft of the regulatory instrument;
(ii) a statement explaining the need for and the intended operation of the regulatory instrument;
(iii) a statement of the expected impact of the regulatory instrument; and
(iv) a notice inviting submissions in relation to the regulatory instrument and stating where, how and by when submissions are to be made; and
(b) has, once submissions referred to in paragraph (a)(iv) have been received and considered, submitted the regulatory instrument to Parliament in terms of section 103(1).
(2) The period allowed for making submissions referred to in subsection (1)(a)(iv) must be at least six weeks.
(3) If the maker is a financial sector regulator, the maker must, when complying with subsection (1)(a), provide a copy of the documents referred to in that paragraph to—
(a) the other financial sector regulator, the Reserve Bank, the National Credit Regulator, the Council for Medical Schemes and the Director-General; and
(b) if the regulatory instrument would impose requirements on providers of securities services, the market infrastructure that has the function of licensing those providers in terms of a financial sector law.
(4) If the maker is the Ombud Council, the maker must, when complying with subsection (1)(a), provide a copy of the documents referred to in that subsection to the financial sector regulators, the Council for Medical Schemes, the National Credit Regulator and the Director-General.
**Substantially different regulatory instrument**
99. If a maker of a regulatory instrument intends, whether or not as a result of a consultation process, to make a regulatory instrument in a materially different form from the draft regulatory instrument published in terms of section 98, the maker must, before making the regulatory instrument, repeat the process referred to in section 98.
**Urgent regulatory instruments**
100. (1) If the maker of a regulatory instrument determines that compliance with section 98 or 99 is likely to lead to prejudice to financial customers or harm to the financial system, or defeat the object of the proposed regulatory instrument, the maker must before making the instrument—
(a) publish—
(i) a draft of the regulatory instrument and a statement explaining the need for and the intended operation of the regulatory instrument;
(ii) a notice inviting submissions in relation to the regulatory instrument and stating where, how and by when submissions are to be made; and
(iii) a statement of the reasons why the delay involved in complying with sections 98 and 99 is considered likely to lead to prejudice to financial
This gazette is also available free online at www.gpwonline.co.za
<!-- page: 115 -->
GOVERNMENT GAZETTE, 22 AUGUST 2017
No. 41060 115
Molao wa Taolo ya Lephata la Ditshelete, 2017
Nmr 9 ya 2017
115
# KGAOLO 7
# DIDIRISWA TSA BOLAODI
# Karolo 1
# Didiriswa tsa bolaodi
## Tlhaloso
5
97. Mo Karolong eno “modiri”, mabapi le sediriswa sa bolaodi, o kaya motho yo o tshitsinyang go dira sediriswa sa bolaodi.
## Dikgato tsa go dira didiriswa tsa bolaodi
98. (1) Sediriswa sa bolaodi ga se a tshwanela go dirwa ntle le fa modiri
(a) a phasaladitse—
(i) thalo ya sediriswa sa bolaodi;
(ii) polelo e e tlhalosang tlhokego ya le tiro e e ikaeletsweng ya sediriswa sa bolaodi;
(iii) polelo ya kutlwalo e e solofetsweng ya sediriswa sa bolaodi; le
(iv) kitsiso e e laletsang ditlhagiso mabapi le didiriswa tsa bolaodi le tlhaloso ya gore ditlhagiso di ka dirwa kae, jang le gore leng; le
(b) a, fa ditlhagiso tse di kailweng mo temaneng (a)(iv) di sena go amogelwa le go sekasekwa, rometse sediriswa sa bolaodi kwa Palamenteng go ya ka karolo 103(1).
(2) Paka e e dumeletsweng ya go dira ditlhagiso e e kailweng mo karolotlaleletsong (1)(a)(iv) e tshwanetse go nna bonnye dibeke tse thataro.
(3) Fa modiri e le molaodi wa lephata la ditshelete, modiri o tshwanetse go, fa a ikamanya le karolotlaleletso (1)(a), neelana ka kgatiso ya dikwalo tse di kailweng mo temaneng eo go—
(a) molaodi yo mongwe wa lephata la ditshelete, Banka ya Resefe, Bolaodi jwa Bosetshaba jwa Sekoloto, Khansele ya Dikema tsa Kalafi le Mokaedikakaretso; le
(b) fa sediriswa sa bolaodi se ka gobelela ditlhokego mo batlameding ba ditirelo tsa dithoto, dithulaganyetso tsa popegotheo ya mmaraka tse di nang le tiro.
(4) Fa modiri e le Khansele ya Ombud, modiri o tshwanetse, fa a ikamanya le karolotlaleletso (1)(a), tlamela kgatiso ya dikwalo tse di kailweng mo karolotlaleletsong eo go balaodi ba lephata la ditshelete, Bolaodi jwa Bosetshaba jwa Sekoloto le Mokaedikakaretso.
## Didiriswa tsa bolaodi tsa pharologano e kgolo