The following financial co-operative are required to register in terms of the Co-operatives Banks Act, 2007, as a co-operative bank of a specific type—
| (a) | any primary co-operative that takes deposits and— |
| (i) | has 200 or more members; and |
| (ii) | holds deposits of members to the value of one million rand or more; and |
| (b) | any secondary or tertiary co-operative whose members consist of at least— |
| (i) | two or more co-operative banks; |
| (ii) | two or more financial co-operative that take deposits; or |
| (iii) | one co-operative bank and one financial co-operative that take deposits. |
[Item 2A, Part 3 of Schedule 1, substituted by section 74 of the Financial Services Laws General Amendment Act, 2008 (Act No. 22 of 2008) Notice No. 1071, GG 31471, dated 30 September 2008]
