Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)RegulationsDeposit Insurance Regulations, 2024Chapter III: Application of Fund when reimbursing covered deposits in accordance with Section 166AA(1)(b) of Act14. Disputes against Corporation |
| (1) | A qualifying depositor who disagrees with a reimbursed amount may file a dispute with the Corporation within three months from the date of reimbursement of their covered deposits. |
| (2) | A person claiming to be a qualifying depositor, who has not received any reimbursement, may file a dispute with the Corporation within the period specified in regulation 13. |
| (3) | A qualifying depositor or person referred to in subregulation (2) must submit a dispute in the manner and the form prescribed by the Corporation. |
| (4) | Upon receipt of a dispute, the Corporation must investigate the dispute and decide on the dispute submitted in terms of subregulation (1) or (2) within 20 calendar days from receipt of the dispute. |
| (5) | When considering a dispute, the Corporation may request additional evidence supporting the claim. |
| (6) | If the Corporation requests additional evidence supporting a qualifying depositor or person’s claim, the Corporation must pronounce on the dispute within 20 calendar days from the receipt of the additional evidence by the Corporation. |
| (7) | If a dispute resulted in an amount due to a qualifying depositor or person, the Corporation must— |
| (a) | subject to the limit of cover, reimburse the qualifying depositor or person within 20 calendar days after the pronouncement in accordance with subregulation (4) or subregulation (6) using the reimbursement methods specified in regulation 7; and |
| (b) | make an updated statement available to the qualifying depositor or person in accordance with regulation 12. |