(1)
| (b) | A notice referred to in paragraph (a) must— |
| (i) | include a statement of the purpose of and the reasons why the requirement for the holding company to be a non-operating company is proposed; and |
| (ii) | invite the holding company to make submissions on the matter, and give a reasonable period to do so. |
| (2) | A requirement in terms of subsection (1) must be for the purpose of managing more effectively risks to the safety and soundness of the eligible financial institution arising from the other members of the financial conglomerate. |
| (3) | In deciding whether to impose a requirement that a holding company be a non-operating company in terms of subsection (1), the Prudential Authority must take into account all relevant considerations, including at least the following: |
| (a) | The risks to the safety and soundness of the eligible financial institution arising from the other members of the financial conglomerate; |
| (b) | submissions made by or for the holding company; and |
| (c) | any other matters that may be prescribed by Regulation. |
| (4) | A holding company that is given a notice in terms of subsection (1) must comply with the requirements of the notice. |
[Section 163 came into effect on 1 March 2019 by section (f) of Notice No. 169 of 2018, GG 41549, dated 29 March 2018]
