Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 12 : Financial Conglomerates161. Notification by eligible financial institution |
| (1) | An eligible financial institution must, within 30 days of becoming part of a group of companies, notify the Prudential Authority of that event. |
| (2) | A notification in terms of subsection (1) must be in the form determined by the Prudential Authority, completed in accordance with the instructions on the form, and be accompanied by any information that the Prudential Authority may determine. |
| (3) | If an eligible financial institution contravenes subsection (1), the holding company of the financial institution commits the same contravention. |
[Section 161 came into effect on 1 March 2019 by section (f) of Notice No. 169 of 2018, GG 41549, dated 29 March 2018]