Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 8 : LicensingPart 3 : Provisions relating to all licences under financial sector laws126. Concurrence of financial sector regulators on licensing matters |
| (1) | The responsible authority may not take any of the actions specified in subsection (2) unless— |
| (a) | the other financial sector regulator has concurred; and |
| (b) | if the action relates to or affects a systemically important financial institution, the Reserve Bank has also concurred. |
| (2) | The actions are— |
| (a) | issuing a licence; |
| (b) | varying, suspending or revoking a licence, however these are described in the relevant financial sector law; and |
| (c) | granting an exemption in terms of section 281. |