Co-operative Banks Act, 2007 |
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Co-operative Banks Act, 2007 |
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To promote and advance the social and economic welfare of all South Africans by enhancing access to banking services under sustainable conditions; to promote the development of sustainable and responsible co-operative banks; to establish an appropriate regulatory framework and regulatory institutions for co-operative banks that protect members of co-operative banks; to provide for the registration of deposit-taking financial services co-operatives as co-operative banks; to provide for the regulation and supervision of co-operative banks; and to provide for the establishment of co-operative banks supervisors and a development agency for co-operative banks; and to provide for matters connected therewith.
Last update: May 2024
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The Co-operative Banks Act, 2007 (Act No. 40 of 2007) has been updated with Exemption of Co-Operative Banks in terms of Section 89 of the Act from complying with regulations 4(1)(b)(i) and 5 of the Regulations under R.712 of 2009, as per Notice No. 4899 of GG50740, dated 31 May 2024.
Financial Sector Laws Amendment Act 23 of 2021 has updated and made Amendments to:
Banks Act 1990
Competition Act 1998
Co-operative Banks Act 2007
Companies Act 2008
Financial Institutions (Protection of Funds) Act 2001
Financial Markets Act 2012
Financial Sector Regulation Act 2017
Insolvency Act 1936
Insurance Act 2017
Mutual Banks Act 1993
South African Reserve Bank Act 1989
as per Notice No. 789, of GG45825, dated 28 January 2022
The Co-operative Banks Act, 2007 (Act No. 40 of 2007) has been amended as per Schedule 4 of the Financial Sector Regulation Act, 2017. Gazette Number 41549 - Notice 169 dated 29 March 2018.
The Co-operative Banks Act, 2007 (Act No. 40 of 2007) has been amended by Financial Services Laws General Amendment Act, 2013. Government Gazette 37351 dated 18 February 2014.
The Co-operative Banks Act, 2007 (Act No. 40 of 2007) has been amended by notice 731 from Government Gazette 31471 – Amendment to Act
The Co-operative Banks Act, 2007 (Act No. 40 of 2007) has been added to the site, being Notice No. 217 in Government Gazette No. 30802 dated 22 February 2008.