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

Regulations

Regulations relating to Representative Offices

4. Material changes
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A representative office shall inform the Registrar in writing, within seven days of the occurrence thereof, of—

(a)any material restriction on or amendment to the authorisation to conduct business similar to the business of a bank granted to the foreign institution of which it is a representative office;
(b)the withdrawal of the authorisation to conduct business similar to the business of a bank granted to the foreign institution of which it is a representative office; and
(c)any change in the legal status of the foreign institution of which it is a representative office.