[Section 52(1)(a) substituted by section 62 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]
| (2) | The Prudential Authority, in addition to any other action that the Prudential Authority may take under this Act, may act in accordance with this Chapter— |
| (ii) | comply with any plan, scheme or strategy approved under this Act; |
| (b) | if the Prudential Authority reasonably believes that a plan, scheme or strategy submitted under this Act is inadequate; or |
| (3) | The Prudential Authority, in addition to any other action that the Prudential Authority may take under this Act, may act in accordance with section 59 in respect of a trust referred to in section 41— |
| (a) | if a branch of a foreign reinsurer or Lloyd’s fails to— |
| (i) | provide or maintain the security referred to in section 41 in the trust; |
| (ii) | submit any plan or scheme required under this Act; or |
| (iii) | comply with any plan or scheme approved under this Act; |
| (b) | if the Prudential Authority reasonably believes that a plan or scheme submitted under this Act is inadequate; or |
| (c) | in the circumstances referred to in section 29(4)(b). |
