Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 12A : Resolution of Designated InstitutionsPart 6 : Corporation for Deposit Insurance - establishment, functions and governance166BB. Memoranda of understanding |
| (1) | The Corporation may enter into memoranda of understanding with— |
| (a) | the Reserve Bank; |
| (b) | a financial sector regulator; or |
| (c) | a body in a foreign country that has powers or functions corresponding to its powers or functions. |
| (2) | The validity of an action taken by the Corporation in terms of this Act or a financial sector law is not affected by a failure to comply with this section or a memorandum of understanding contemplated in subsection (1). |
[Section 166BB 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]