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| Attachment | Size |
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| act-13-1989.pdf | 1.8 MB |
13 of 1989
The Banking Institutions, Mutual Building Societies and Building Societies Amendment Act 13 of 1989 intends:
- to amend the provisions of the Banks Act, 1965 [repealed in 1991], so as
- to further regulate the prohibition on the carrying on of the business of a banking institution by unregistered institutions;
- to rectify an omission in the Afrikaans text of section 12 of the said Act;
- to further regulate the exercise of voting rights by a financial company and its associates in respect of shares held in a banking institution or bank controlling company;
- to make other provision with reference to the carrying on of banking business through an agent;
- to reformulate the powers of inspection of the Registrar of Banks; and
- to increase the penalty for a contravention of section 7 (1) or (2) of the Act;
- to amend the provisions of the Mutual Building Societies Act, 1965 [repealed in 1994], so as
- to further regulate the requirements relating to the furnishing of information to depositors; and
- to set out more fully the prohibition relating to the purchase by officers of a mutual building society of property owned by or mortgaged to that society; and
- to amend the provisions of the Building Societies Act, 1986 [repealed in 1991], so as
- to further regulate the requirements relating to the furnishing of information to depositors; and
- to set out more fully the prohibition relating to the purchase by certain office-bearers and employees of a building society of property owned by or mortgaged to that building society; and
- to provide for matters connected therewith.
Commencement
15 March 1989
