Banks Act, 1990 (Act No. 94 of 1990)Chapter III : Authorisation to Establish, and Registration and Cancellation of Registration of, Banks18. Conditions of registration |
| (1) | The registration under section 17 of an institution as a bank shall be subject to the prescribed conditions and to such further conditions, if any, as the Authority may determine. |
| (2) | In addition to any other condition which the Authority may impose under subsection (1), he or she may impose a condition requiring the institution concerned to take within a specified period such steps in terms of the Companies Act as may be necessary to alter its memorandum of incorporation in accordance with the requirements of the Authority. |
[Section 18 substituted by section 10 of Act No. 26 of 1994, with effect from 1 June 1996]