Banks Amendment Act 3 of 2015

The Banks Amendment Act 3 of 2015 aims:

• to amend the Banks Act, 1990, so as:
  • to enable the application of the provisions on arrangements and compromises in the Companies Act, 2008, to banks under curatorship;
  • to expand the basis on which a curator may dispose of all or part of the business of a bank to enable an effective resolution of a bank under curatorship;
  • to provide for the application of the Promotion of Administrative Justice Act, 2000, to any administrative action taken in terms of the Banks Act; and
• to provide for matters connected therewith.

Commencement

29 June 2015