Banks Act, 1990 (Act No. 94 of 1990)Chapter IV : Shareholding in, and Registration of Controlling Companies in respect of, Banks49. Date on which registration of controlling company lapses |
A controlling company shall cease to be registered as such—
| (a) | in the case of a registration cancelled by the Authority, under section 45, upon expiry of 30 days after the date of the notice referred to in subsection (1) of that section or, if an application for the review of such a decision to cancel was lodged with the board of review in terms of section 9 before the expiry of the said 30 days and the board of review has confirmed such cancellation, upon the date on which the controlling company concerned is notified of such confirmation; |
[Paragraph (a) substituted by section 7 of Act No. 36 of 2000]
| (b) | in the case of a registration in respect of which the court has granted an order under section 46 cancelling the registration, upon the date on which that order comes into force; or |
| (c) | in the case. of a registration cancelled by the Authority in terms of section 47, upon such date as may be determined by the Authority. |