Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002)

Board Notices

Exemption of Banks, 2009: Board Notice 172 of 2009

1. Definitions
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In this Schedule, "the Act" means the Financial Advisory and Intermediary Services Act, 2002, any word or expression to which a meaning is assigned in the Act shall have that meaning, and unless the context otherwise indicates—

 

"bank"

means—

(a)a 'bank', 'branch', 'branch of a bank', 'mutual bank' or 'representative office' as defined in section 1(1) of the Banks Act, 1990 (Act No. 94 of 1990); or
(b)a 'co-operative bank' as defined in section 1(1) of the Co-operative Banks Act, 2007 (Act No. 40 of 2007);

 

"intermediary"

in relation to a bank, means a person who renders financial services in respect of forward exchange contracts without authorisation, and with whom the bank conducts financial services related business.