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

Chapter 1 : Interpretation, Object and Administration of Act

Part 1 : Interpretation

5. Responsible authorities
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(1)Subject to subsection (2), the responsible authority for a financial sector law is the financial sector regulator identified in Schedule 2 as the responsible authority for that financial sector law.

 

(2)Despite subsection (1) and sections 2(5) and 3(5), if a section 77 memorandum of understanding provides for one of the financial sector regulators to delegate its functions and powers in relation to a provision of a financial sector law for which it is the responsible authority to another financial sector regulator, the other financial sector regulator is, to the extent of the delegation, the responsible authority for the provision.