Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 17 : MiscellaneousPart 4 : General matters281. Exemptions |
| (1) | The responsible authority for a financial sector law may, in writing and with the concurrence of the other financial sector regulator, exempt any person or class of persons from a specified provision of the financial sector law, unless it considers that granting the exemption— |
| (a) | will be contrary to the public interest; or |
| (b) | may prejudice the achievement of the objects of a financial sector law. |
| (2) | Subsection (1) applies to the granting of exemptions if a financial sector law does not provide a power to grant exemptions. |
| (3) | If a financial sector law provides a power to grant exemptions, the responsible authority must— |
| (a) | grant the exemption in terms of the relevant provisions of the financial sector law; and |
| (b) | when deciding whether to grant an exemption, comply with the requirements of subsection (1) in addition to any requirements specified in the financial sector law. |
| (4) | The responsible authority must publish each exemption. |