Files
| Attachment | Size |
|---|---|
| act42of1992.pdf | 5.2 MB |
42 of 1992
The Deposit-taking Institutions Amendment Act 42 of 1992 intends:
- to amend the Deposit-taking Institutions Act, 1990, so as
- to further define certain expressions and to delete the definitions of certain expressions;
- to correct certain syntactical deficiencies;
- to further define the expression "associate";
- to further regulate the procedure for the obtaining of permission for the acquisition of shares in a deposit-taking institution or controlling company;
- to delete a provision authorizing deposit-taking institutions to acquire shares in other deposit-taking institutions or in controlling companies without the prior permission of the Registrar of Deposit-taking Institutions or the Minister of Finance;
- to provide for the exercise of control over deposit-taking institutions by certain foreign institutions;
- to bring certain provisions thereof into line with new legislation;
- to further regulate certain functions of the auditors of deposit-taking institutions;
- to extend the powers of the curator appointed to a deposit-taking institution which is in fmancial difficulties;
- to clarify a certain provision relating to the calculation of the minimum share capital and unimpaired reserve funds required to be maintained by deposit-taking institutions;
- to delete a certain provision which is no longer applicable;
- to make other provision regarding the valuation of securities forming part of the liquid assets required to be held by deposit-taking institutions;
- to provide for the granting by a committee appointed by the board of directors of a deposit-taking institution of permission for certain large exposures;
- to further regulate the time of submission and the contents or certain returns to be furnished by deposit-taking institutions to the Registrar of Deposit-taking Institutions; and
- to exclude liabilities in respect of capital and reserves from the liabilities against which the permissible limits of certain investments by deposit-taking institutions are to be calculated; and
- to provide for matters connected therewith.
Commencement
15 April 1992
