Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)

Chapter 8 : Licensing

Part 2 : Licences required in terms of section 111(1)(b) or (2) or section 162

122. Continuation of licensed activity despite suspension or revocation of licence
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(1)The responsible authority that suspended or revoked a licence may, by notice to the licensee, on conditions specified in the licence, allow the licensee to carry out the licensed activity to the extent, and for the period, specified in the notice to facilitate the orderly suspension or termination of the activity.

 

(2)Conditions in terms of subsection (1) must be aimed at—
(a)ensuring that financial customers of the licensee are treated fairly; or
(b)the orderly suspension or termination of the licensed activity.

 

(3)Carrying out the licensed activity in accordance with the requirements of a notice in terms of subsection (1) is not a contravention of section 111 or 162.