Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 6 : Administrative ActionsPart 2 : Administrative justice92. Procedures for specific administrative action in terms of Act |
| (1) | A financial sector regulator may, by notice in the Register, determine procedures for administrative action to be taken by it in terms of a financial sector law, which procedures must— |
| (a) | be aimed at promoting a fair and consistent approach to administrative action taken by the financial sector regulator in terms of the financial sector laws; and |
| (b) | be consistent with— |
| (i) | the principles of the Promotion of Administrative Justice Act; and |
| (ii) | any applicable requirements of a financial sector law. |
| (2) | If it is reasonable and justifiable in the circumstances, procedures for administrative action may depart from specific requirements of the Promotion of Administrative Justice Act, in accordance with sections 3(4), 4(4) and 5(4) of that Act. |
| (3) | Different procedures may be determined for different types of administrative actions and different circumstances. |