Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 10 : EnforcementPart 2 : Directives by financial sector regulators149. Compliance with directives |
| (1) | A financial institution, key person, representative or contractor to which a regulator’s directive in terms of this Part has been issued must comply with the directive. |
| (2) | The High Court may, on application by a party to a contract with a financial institution, other than the financial institution, make an order relating to the effect of a directive in terms of this Part on the contract. |
(3)
| (a) | Without limiting what the order may do, the order may require the financial institution to— |
| (i) | perform its obligations under the contract; or |
| (ii) | compensate the applicant, as specified in the order. |
| (b) | An order in terms of paragraph (a) may not require a person to take action that would contravene the directive of a financial sector regulator. |