Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 14 : OmbudsPart 2 : Recognition of industry ombud schemes194. Recognition of industry ombud schemes |
| (1) | The Ombud Council may, on application by an industry ombud scheme, recognise the industry ombud scheme for the purposes of this Act. |
| (2) | An application in terms of subsection (1) must— |
| (a) | be in writing, in a form approved or accepted by the Ombud Council; and |
| (b) | include or be accompanied by— |
| (i) | a copy of the governing rules of the industry ombud scheme; |
| (ii) | a list of financial institutions that shall be members of the industry ombud scheme should it be recognised; and |
| (iii) | any other information required in the form. |
[Section 194 to take effect on 1 April 2020, per Notice No. 1130 of 2019, GG 42677, dated 30 August 2019]