Banks Act, 1990 (Act No. 94 of 1990)RegulationsRegulations relating to BanksChapter I : Basis of Regulations2. Management accounts as basis for the completion of returns |
| (1) | Unless expressly otherwise provided in the Act or these Regulations, all the prescribed returns shall reflect the management accounts presented to the management and/or board of directors of a bank or controlling company in the sense that the said returns— |
| (a) | shall be prepared using the same principles used in the preparation of such management accounts and/or board reports; |
| (b) | shall be easily reconcilable to such management accounts and/or board reports. |
| (2) | In the event of a conflict between the instructions, directives and interpretations relating to the completion of the returns, as prescribed in these Regulations, and the manner in which the management accounts of the bank or controlling company concerned are completed, the basis and composition of amounts disclosed in such management accounts shall after consultation with the Registrar be presented to the Registrar for approval, provided that in all cases the aggregate amount of the relevant amounts disclosed shall agree or easily be reconcilable. |