Banks Act, 1990 (Act No. 94 of 1990)Chapter III : Authorisation to Establish, and Registration and Cancellation of Registration of, Banks33A. Reregistration after commencement of Banks Amendment Act, 1994 |
| (1) | Every institution which on the date immediately preceding the date of commencement of the Banks Amendment Act, 1994 (hereinafter in this section referred to as the Amendment Act), is a bank that has been provisionally or finally registered as such under the provisions of this Act as those provisions existed prior to the amendment thereof by the Amendment Act shall, in accordance with and subject to the provisions of subsections (2) and (3), be registered as a bank by the Authority in terms of the provisions of this Act as so amended, as soon as is practicable after the said date of commencement. |
| (2) | The Authority shall, when complying with the provisions of subsection (1), issue to the institution in question a certificate of registration as a bank. |
| (3) | The reregistration of an institution in terms of this section shall be subject mutatis mutandis to the provisions of section 18. |
| (4) | Upon the reregistration of an institution in terms of this section its previous provisional or final registration as a bank, as the case may be, shall be deemed to have lapsed and any certificate of registration issued in respect thereof shall be deemed to have been cancelled. |
| (5) | No fees shall be payable in respect of a reregistration in terms of this section. |