South African Postbank SOC Limited Act, 2010 (Act No. 9 of 2010)Chapter IV : Control and Management of Company15A. Functions of bank controlling company |
| (1) | The bank controlling company will be the controlling company for the Company. |
| (2) | The bank controlling company shall itself not conduct any operating activities of its own, other than ownership of the Company. |
| (3) | The bank controlling company will hold 100% shares of the Company. |
| (4) | The bank controlling company shall exercise additional oversight over the bank, ensuring that the bank operating company exercises sound risk management and governance practices, in accordance with the South African Reserve Bank requirements as provided for in the Banks Act. |
Section 15A inserted by section 8 of the South African Post Bank Limited Amendment Act, 2023, Notice No. 3746, GG49374, dated 27 February 2023: effective 19 September 2024, Commencement Proclamation 152, GG50126, dated 15 February 2024]