[Section 243 heading substituted by the Schedule: Amendment of Laws: Section 4 of the Financial Sector and Deposit Insurance Levies (Administration) and Deposit Insurance Premiums Act, 2022 (Act No. 12 of 2022), Notice No. 1512, GG47696, dated 9 December 2022, per section (d), item (10) of Commencement Notice No. 3188, GG48291, dated 24 March 2023]
| (1) | A person who has been charged a fee, or a supervised entity who has been charged a levy, or a member who has been charged a deposit insurance premium, or a deposit insurance levy, may offer to pay the fee, levy, deposit insurance premium or deposit insurance levy by specified instalments, and if an offer is made, the financial sector body to which the fee, levy, deposit insurance premium, or deposit insurance levy must be paid, must— |
| (b) | accept a modified offer; or |
and must notify the person who made the offer accordingly.
| (2) | A person who wishes to make an offer to pay a fee, levy, deposit insurance premium or deposit insurance levy by instalments must make an offer— |
| (a) | immediately after being notified of the fee, levy, deposit insurance premium, or deposit insurance levy charged, if the fee, levy, deposit insurance premium or deposit insurance levy must be paid within 14 days after the date on which notification is received; or |
| (b) | at least 14 days before the date on which the fee, levy, deposit insurance premium or deposit insurance levy must be paid, if paragraph (a) does not apply. |
| (3) | The financial sector body to which the offer to pay the fee, levy, deposit insurance premium or deposit insurance levy by instalments, referred to in subsection (1), was made, must notify the person who made an offer in terms of subsection (1) of its decision— |
| (a) | immediately after receipt of the offer, in respect of an offer referred to in subsection (2)(a); or |
| (b) | within seven days after the receipt of the offer, in respect of an offer referred to in subsection (2)(b). |
[Section 243 substituted by the Schedule: Amendment of Laws: Section 4 of the Financial Sector and Deposit Insurance Levies (Administration) and Deposit Insurance Premiums Act, 2022 (Act No. 12 of 2022), Notice No. 1512, GG47696, dated 9 December 2022 - effective 1 April 2023 in respect of payments of fees and levies to financial sector bodies other than the Corporation for Deposit Insurance and 1 April 2024 in respect of payments of deposit insurance levies and deposit insurance premiums to the Corporation for Deposit Insurance, per section (d), item (10) of Commencement Notice No. 3188, GG48291, dated 24 March 2023]
