Mutual Banks Act, 1993 (Act No. 124 of 1993)RegulationsRegulations relating to Mutual BanksChapter I : Basis of Regulation7. Certification and rendition of returns |
| (1) | As required in Section 86 of the Act the chief executive officer and the chief accounting officer of a reporting mutual bank shall sign and certify the prescribed form DI 099 in respect of each return indicated on the said form, whether such return is rendered on a prescribed form or by means of an electronic facility. |
| (2) | Every set of returns rendered simultaneously, as mentioned in regulation 7(1), shall be accompanied by a duly completed, signed and certified form DI 099. |
| (3) | If the chief executive officer or the chief accounting officer is not available to sign a completed form DI 099, the officer performing the relevant function shall sign the said form in an acting capacity and not on behalf of the absent officer, and the normal office of the officer so acting shall be clearly indicated on form DI 099. |
| (4) | The furnishing of the returns referred to in these Regulations, whether by way of the completion of the prescribed forms or by electronic means, shall be done at the intervals indicated in Chapter II and Chapter V of these Regulations, and such returns shall be forwarded to the Authority at the address set out in regulation 8(1). |
| (5) | A reporting mutual bank shall submit every appropriate, duly completed form prescribed in Chapter II and Chapter V of these Regulations, reflecting the required particulars relating to the business conducted by it in the Republic and in the self-governing territories as well as the business conducted by it through the medium of an agency or a branch in an independent state. |
| (6) | A reporting mutual bank shall, apart from the forms referred to in sub-regulation (5), submit every appropriate, duly completed form prescribed in Chapter II and Chapter V of these Regulations, reflecting the required particulars relating to the business of a mutual bank conducted by it, other than the business referred to in subregulation (5), through the medium of an agency or in respect of a branch, a subsidiary company or an associate contemplated in regulation 5(2)(b), in each country elsewhere in the world, as well as the business conducted by it through the medium of a subsidiary company or an associate as contemplated in regulation 5(2)(b) in each of the independent states. |
| (7) | Unless otherwise indicated all returns shall be completed in the currency of the country in which the banking business is being conducted. |
| (8) | In completing the returns in respect of banking business conducted within the independent states, the definitions and interpretation of items used in these Regulations shall be applied as if such business was being conducted within the Republic. |
| (9) | In completing the returns in respect of banking business conducted outside the Republic, the self-governing territories and the independent states, the definitions and interpretation of items used in these Regulations shall be applied to the circumstances prevailing in each country and any difficulties experienced in this regard, shall be referred to the Authority. |