Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 1 : Interpretation, Object and Administration of ActPart 3 : Application of other legislation9. Inconsistencies between Act and other laws |
[Section 9 heading substituted by section 37 and 61(a) of the Financial Sector Laws Amendment Act, 2021 (Act No. 23 of 2021), Notice No. 789, GG45825, dated 28 January 2022- effective 1 June 2023 per (b)(i) of Commencement Notice No. 3202, GG48294, dated 24 March 2023]
| (1) | In the event of any inconsistency between a provision of this Act, other than a Regulation or a regulatory instrument made under this Act, and a provision of another Act that— |
| (a) | is a financial sector law; or |
| (b) | deals with the failure or insolvency of a company or the appointment of a statutory manager, curator or similar person to a designated institution, |
the provision of this Act prevails.
| (2) | In the event of any inconsistency between a provision of a Regulation or a regulatory instrument made in terms of this Act and a provision of a Regulation or a regulatory instrument made— |
| (a) | in terms of a specific financial sector law; or |
| (b) | in terms of another law that deals with the failure or insolvency of a company or the appointment of a statutory manager, curator or similar person to a designated institution, |
the provision of the Regulation or regulatory instrument made in terms of this Act prevails.
[Section 9 substituted by section 37 of the Financial Sector Laws Amendment Act, 2021 (Act No. 23 of 2021), Notice No. 789, GG45825, dated 28 January 2022- effective 1 June 2023 per (b)(i) of Commencement Notice No. 3202, GG48294, dated 24 March 2023]