Banks Act, 1990 (Act No. 94 of 1990)

Chapter III : Authorisation to Establish, and Registration and Cancellation of Registration of, Banks

11. Registration a prerequisite for conducting business of bank
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(1)Subject to the provisions of section 18A, no person shall conduct the business of a bank unless such person is a public company and is registered as a bank in terms of this Act.

[Section 11(1) substituted by section 5 of Act No. 26 of 1994]

 

(2)Any person who contravenes a provision of subsection (1) shall be guilty of an offence.