Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 6 : Administrative ActionsPart 2 : Administrative justice93. Processes for determining or amending administrative action procedures |
| (1) | Before a financial sector regulator determines or amends an administrative action procedure in terms of section 92, the financial sector regulator must— |
| (a) | publish on its website— |
| (i) | a draft of the proposed procedure or amendment; and |
| (ii) | a notice calling for written public comment within a period stated in the notice, which must be at least 30 days from the date of publication of the notice; |
| (b) | submit a draft of the proposed procedure or amendment to the Director-General and the other financial sector regulator; and |
| (c) | consider any comments received. |
| (2) | If a financial sector regulator intends to make an administrative action procedure or amendment that is materially different in form from the draft procedure or amendment that was previously published in terms of subsection (1), the regulator must, before making the procedure or amendment, repeat the process referred to in subsection (1). |