SCHEDULE 4
AMENDMENTS AND REPEALS (continued)
(Section 290)
Act No. and year
|
Short Title
|
Extent of repeal or amendment
|
Act No. 90 of 1989
|
South African Reserve Bank Act, 1989
|
| 1. | The amendment of section 3 by the addition of the following subsection, the existing section becoming subsection (1): |
| "(2) | In addition, the Bank is responsible for protecting and maintaining financial stability as envisaged in the Financial Sector Regulation Act, 2017.". |
| 2. | The substitution in section 10(1) for paragraph (v) of the following paragraph: |
| "(v) | perform the functions assigned to the Bank by the Banks Act, 1990 (Act No. 94 of 1990), [and] the Mutual Banks Act, 1993 (Act No. 124 of 1993), the Financial Sector Regulation Act, 2017 and other financial sector laws as defined in section 1(1) of the Financial Sector Regulation Act, 2017." |
| 3. | The substitution in section 11 for subsection (2) of the following subsection: |
"(2)
| (a) | The provisions of [the Inspection of Financial Institutions Act, 1984 (Act No. 38 of 1984),] Part 4 of Chapter 9 of the Financial Sector Regulation Act, 2017 except [sections 2 and 7] section 134 [thereof], shall [mutatis mutandis] apply with the changes necessary in the context in respect of an inspection carried out in terms of subsection (1). |
| (b) | Section 130 of the Financial Sector Regulation Act, 2017 does not apply in respect of an inspection carried out in terms of subsection (1).". |
| 4. | The substitution in section 12 for subsection (2) of the following subsection: |
| "(2) | The provisions of [sections 4, 5, 8 and 9 of the Inspection of Financial Institutions Act, 1984 (Act No. 38 of 1984),] Part 4 of Chapter 9 of the Financial Sector Regulation Act shall apply [mutatis mutandis] with the necessary changes required by the context in respect of an inspection carried out in terms of subsection (1).". |
|
