Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 9 : Information Gathering, Supervisory On-Site Inspections and InvestigationsPart 1 : Application and interpretation129. Application and interpretation of Chapter |
| (1) | This Chapter applies to— |
| (a) | information gathering, supervisory on-site inspections and investigations by the Prudential Authority or the Financial Sector Conduct Authority; and |
| (b) | investigations in relation to a designated institution in resolution by an investigator appointed in terms of section 134(1A), or a person appointed to assist the investigator. |
[Section 129(1) substituted by section 48 of the Financial Sector Laws Amendment Act, 2021 (Act No. 23 of 2021), Notice No. 789, GG45825, dated 28 January 2022- effective 1 June 2023 per (b)(i) of Commencement Notice No. 3202, GG48294, dated 24 March 2023]
| (2) | The Council for Medical Schemes may exercise powers in terms of this Chapter in respect of powers and functions set out in the Medical Schemes Act, and powers and functions granted to it in this Act. |
| (3) | In relation to the exercise of the powers in terms of this Chapter by the Council for Medical Schemes in respect of a medical scheme, a reference in this Chapter to— |
| (a) | a financial sector regulator or the responsible authority must be read as including a reference to the Council for Medical Schemes; |
| (b) | the head of a financial sector regulator must be read as including a reference to the Registrar of Medical Schemes appointed in terms of section 18 of the Medical Schemes Act; |
| (c) | a financial sector law must be read as including a reference to regulatory instruments and to the Medical Schemes Act; and |
| (d) | a licensed financial institution must be read as including a reference to a medical scheme registered in terms of the Medical Schemes Act or an administrator of a medical scheme approved in terms of the Medical Schemes Act. |