Banks Act, 1990 (Act No. 94 of 1990)Chapter VI : Prudential Requirements75. Returns |
| (a) | whether the bank is complying with the provisions of— |
| (i) | sections 70 and 72 |
| (ii) | section 10A of the South African Reserve Bank Act, 1989 (Act No. 90 of 1989); or |
[Section 75(1)(a) substituted by section 21(a) of Act No. 9 of 1993]
| (b) | the nature and amounts of the bank's assets, liabilities and contingent liabilities, |
[Section 75(1)(b) substituted by section 12(a) of Act No. 42 of 1992]
furnish the Authority, subject to the provisions of subsection (3A), with returns.
[Words following section 75(1)(b) substituted by section 47(a) of Act No. 26 of 1994]
| (2) | [Section 75(2) deleted by section 47(b) of Act No. 26 of 1994] |
| (3) | A bank shall, in addition to the returns referred to in subsection (1), furnish the Authority, subject to the provisions of subsection (3A), with the prescribed returns, including returns relating to the extent and management of risk exposures in the conduct of its business. |
[Section 75(3) substituted by section 47(c) of Act No. 26 of 1994]
| (3A) | The returns referred to in subsections (1) and (3) shall be prepared in conformity with financial reporting standards issued in terms of the Companies Act and shall be furnished to the Authority in respect of such period, at such times and on such a form as may be prescribed. |
[Section 75(3A) substituted by section 24(a) of Act No. 20 of 2007]
| (4) | The regulations contemplated in subsections (3) and (3A) may also— |
| (a) | prescribe that a bank which carries on the business of a bank through the medium of a subsidiary, branch office, agency or other undertaking outside the Republic, shall incorporate in the returns which it is required to furnish in terms of subsections (1) and (3) the required information in respect of such business, and also that such information shall be furnished separately by the bank on a form so prescribed; and |
| (b) | prescribe that in the case of a group of banks the holding company in such group shall, in addition to the returns furnished in terms of subsections (1) and (3) by each bank in the group, furnish the Authority by means of a consolidated return, on a form prescribed, relating to— |
| (i) | all the banks in that group; |
| (ii) | all the subsidiaries of such banks; |
| (iii) | the controlling company of such banks and all other subsidiaries of such controlling company; |
| (iv) | any juristic person which would have been a subsidiary of any one of such banks or of such controlling company had such juristic person been a company; |
| (v) | any juristic person of which the board of directors, or, in the case where such juristic person is not a company, of which the governing body, is accustomed to act in accordance with the directions or instructions of any one of such banks or of such controlling company; and |
| (vi) | any trust controlled directly or indirectly by any one of such banks or by such controlling company, |
as well as to any business, if any, referred to in paragraph (a), with the information required to be furnished in such first-mentioned returns, or with such other information as the Authority may require.
[Section 75(4) substituted by section 47(e) of Act No. 26 of 1994]
| (5) | A bank shall furnish the Authority, in respect of those of the respective returns referred to in subsections (1) and (3) which most nearly coincide with the end of the financial year of the bank with a report by the auditor of the bank in which is stated whether or not those returns fairly and in conformity with financial reporting standards issued in terms of the Companies Act present those affairs of the bank to which the returns relate, and the Authority may, if he or she deems it necessary, require the bank so to furnish the Authority with such a report in respect of any other of those returns furnished during the financial year. |
[Section 75(5) substituted by section 24(b) of Act No. 20 of 2007]
| (6) | A bank shall, at such times as may be prescribed, furnish the Authority with such further prescribed information as the Authority may require. |
[Section 75(6) substituted by section 47(e) of Act No. 26 of 1994]