Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 10 : EnforcementPart 5 : Debarment154. Consultation requirements |
| (1) | Before making a debarment order in respect of a natural person, the responsible authority must— |
| (a) | give a draft of the debarment order to the person and to the other financial sector regulator, along with reasons for and other relevant information about the proposed debarment; and |
| (b) | invite the person to make submissions on the matter, and give the person a reasonable period to do so. |
| (2) | The period contemplated in terms of subsection (1)(b) must be at least one month. |
| (3) | In deciding whether or not to make a debarment order in respect of a natural person, the responsible authority must take into account at least— |
| (a) | any submission made by, or on behalf of, the person; and |
| (b) | any advice from the other financial sector regulator. |