Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)

Chapter 12A : Resolution of Designated Institutions

Part 6 : Corporation for Deposit Insurance - establishment, functions and governance

166BA. Co-operation and collaboration with financial sector regulators and Reserve Bank
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(1) The Corporation, the financial sector regulators and the Reserve Bank must co-operate and collaborate with one another to assist the Corporation to exercise its powers and perform its functions in terms of this Act, including by providing assistance and information promptly regarding any matter of which the regulators and the Reserve Bank become aware of that affects or may affect the performance of any of those powers or functions of the Corporation.

 

(2) Without limiting subsection (1), the financial sector regulators must comply with any reasonable request from the Corporation, including requests to
(i) determine standards;
(ii) issue directives; and
(iii) promote awareness among financial customers of the protections afforded by this Chapter.

 

[Section 166BA inserted by section 51 of the Financial Sector Laws Amendment Act, 2021 (Act No. 23 of 2021), Notice No. 789, GG45825, dated 28 January 2022- effective 24 March 2023 per (a) of Commencement Notice No. 3202, GG48294, dated 24 March 2023]