[Words preceding section 48(1)(a) substituted by section 290, item 13(a) in Schedule 4, of Act No. 9 of 2017 - effective 1 April 2018 (paragraph (h) of Notice 169 of 2018)]
| (a) | to implement specific practices, procedures or processes; |
| (b) | to take specific actions or measures; |
| (c) | to desist from undertaking specific practices, procedures, processes, actions or measures; or |
| (d) | prohibiting certain practices, procedures, processes, actions or measures. |
| (2) | A directive referred to in subsection (1) may— |
| (a) | apply to co-operative banks or co-operative financial institutions generally; or |
| (b) | be limited in its application to a particular co-operative bank or co-operative financial institution, or kind of co-operative bank or co-operative financial institution, which may be defined either in relation to a type or budgetary size of co-operative bank or co-operative financial institutions or to any other matter. |
[Section 48(2)(a) substituted by section 290, item 13(b) in Schedule 4, of Act No. 9 of 2017 - effective 1 April 2018 (paragraph (h) of Notice 169 of 2018)]
| (3) | A directive issued in terms of subsection (1) takes effect on the date determined by the Authority in the directive, and may take effect immediately. |
[Section 48(3) amended by section 250 of Act No. 45 of 2013]
| (a) | The Authority must issue a directive in terms of subsection (1), in accordance with the provisions of the Promotion of Administrative Justice Act, 2000 (Act No. 3 of 2000). |
| (b) | In the event of a departure from the provisions of the Promotion of Administrative Justice Act, 2000, in accordance with sections 3(4) and 4(4) of that Act, the directive must include a statement to that effect and a motivation for the departure. |
| (5) | The Authority may cancel or revoke any previously issued directives. |
| (6) | The Authority must, where a directive is issued to ensure the protection of the members and the public in general, publish the directive in the Gazette and any other media that the Authority deems appropriate. |
