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

Regulations

Deposit Insurance Regulations, 2024

Chapter VII: Reporting

31. Details of beneficiary of formal beneficiary account of bank in resolution
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(1) A formal beneficiary account holder must identify a beneficiary of a formal beneficiary account using the minimum identification criteria, specified in regulation 37(1), and submit the details of the beneficiary, specified in regulation 35(4), to the bank in resolution.

 

(2) A bank in resolution must submit the details, specified in regulation 35(4), of a beneficiary of a formal beneficiary account to the Corporation.