Mutual Banks Act, 1993 (Act No. 124 of 1993)Chapter III : Authorization to Establish, and Registration and Cancellation of Registration of, Mutual Banks30A. Reregistration after commencement of Mutual Banks Amendment Act, 1999 |
| (1) | Every institution which on the date immediately preceding the date of commencement of the Mutual Banks Amendment Act, 1999 (hereinafter in this section referred to as the Amendment Act), is a mutual bank that has been provisionally or finally registered as such under the provisions of this Act as those provisions existed prior to the amendment thereof by the Amendment Act shall. in accordance with and subject to subsections (2) and (3), be reregistered as a mutual bank by the Registrar in terms of the provisions of this Act as so amended, as soon as is practicable after the said date of commencement. |
| (2) | The Registrar shall, when complying with subsection (1), issue to the institution in question a certificate of registration as a mutual bank. |
| (3) | The re-registration of an institution in terms of this section shall be subject mutatis mutandis to section 15. |
| (4 | Upon the re-registration of an institution in terms of this section its previous provisional or final registration as a mutual bank, as the case may be, shall be deemed to have lapsed and any certificate of registration issued in respect thereof shall be deemed to have been cancelled. |
| (5) | No fees shall be payable in respect of a reregistration in terms of this section. |