Competition Act, 1998 (Act No. 89 of 1998)

Regulations

COVID-19 Block Exemption for the Banking Sector 2020

1. Definitions
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In these Regulations any word or expression to which a meaning has been assigned in the Act shall bear that meaning and, unless the context otherwise indicates—

 

1.1. "Act"

means the Competition Act No. 89 of 1998, as amended;

 

1.1.A"ASISA"

means the Association for Savings and Investment South Africa;

[Definition inserted by section 2 of Notice No. R. 502, GG43280, dated 5 May 2020]

 

1.2."Bank"

means a public company registered as a bank in terms of the Banks Act no. 94 of 1990 (as amended);

 

1.3."Basa"

means the Banking Association of South Africa

 

1.4. "COVID-19"

means the 2019 novel coronavirus (SARS-COV 2 / COVID-19);

 

1.4.A"Financial Institution"

means an institution registered as a financial institution in terms of The Financial Sector Regulation Act, 2017;

[Definition inserted by section 2 of Notice No. R. 502, GG43280, dated 5 May 2020]

 

1.5. "Minister"

has the same meaning as defined in the Act; and

 

1.6. "National Disaster Management Act"

refers to the National Disaster Management Act No. 57 of 2002, as amended.

 

1.7        "PASA"

means the Payments Association of South Africa