Financial Services Ombud Schemes Act, 2004 (Act No. 37 of 2004)15. Prescription and saving of rights |
| (1) | Official receipt of a complaint by an ombud or the statutory ombud suspends any applicable time barring terms, whether in terms of an agreement or any law, or the running of prescription in terms of the Prescription Act, 1969 (Act No. 68 of 1969), for the period from such receipt until the complaint has either been withdrawn by the complainant concerned or determined by any such ombud. |
| (2) | No provision of this Act must be construed as affecting any right of a client or other affected person to seek appropriate legal redress by virtue of common or statutory law, before or after the consideration of a complaint by an ombud or the statutory ombud. |