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

Notice No. 779

28 January 2022

GG 45816

South African Reserve Bank

The Prudential Authority hereby designates with concurrence of the Minister of Finance, under the definition of “the business of a bank” in section 1(1), paragraph (cc) of the Banks Act, 1990 (Act 94 of 1990) that the business of the institution, specified in paragraph 2 of the schedule, shall not be deemed to constitute the business of a bank for the period commencing on 1 January 2022 and expiring on 30 June 2022, subject to the conditions set out in paragraph 3 of the schedule.

This notice substitutes Government Notice No. 654 as published in Government Gazette No. 42927 dated 27 December 2019.

Kuben Naidoo

Deputy Governor and CEO: Prudential Authority

Date: 17 January 2022