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

Chapter 5 : Co-operation and Collaboration

Part 1 : Co-operation and collaboration

78. Other organs of state
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(1)An organ of state that has a regulatory or supervisory function in relation to financial institutions must, to the extent practicable, consult the financial sector regulators and the Reserve Bank in relation to the performance of that function.

 

(2)A financial sector regulator or the Reserve Bank may, in writing, request an organ of state referred to in subsection (1) to provide information about any action that the organ of state has taken or proposes to take in relation to a financial institution specified in the request.

 

(3)The organ of state must comply with a request in terms of subsection (2), but this subsection does not require or permit an organ of state to do something that contravenes a law.