Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 1 : Interpretation, Object and Administration of ActPart 3 : Application of other legislation10. Application of other legislation |
| (1) | The Consumer Protection Act does not apply to, or in relation to— |
| (a) | a function, act, transaction, financial product or financial service that is subject to the National Payment System Act or a financial sector law, and which is regulated by the Financial Sector Conduct Authority in terms of a financial sector law; or |
| (b) | the Reserve Bank, the Prudential Authority, the Financial Sector Conduct Authority, the Prudential Committee, the Executive Committee, the Chief Executive Officer, the Commissioner or a Deputy Commissioner. |
(2)
| (a) | Section 18(2) and (3) of the Competition Act, 1998 (Act No. 89 of 1998) applies, with the necessary changes required by the context, to a merger which requires the approval of the Minister, the Prudential Authority or the Financial Sector Conduct Authority in terms of a financial sector law. |
| (b) | For the purposes of paragraph (a), "merger" means a merger as defined in section 12 of the Competition Act. |
| (c) | Section 116(4) and (9) of the Companies Act applies, with the necessary changes required by the context, to an amalgamation or a merger which requires the approval of the Minister, the Prudential Authority or the Financial Sector Conduct Authority in terms of a financial sector law. |
| (d) | For the purposes of paragraph (c), "amalgamation or merger" means an "amalgamation or merger" as defined in section 1 of the Companies Act. |