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a40-070.pdf | 1.56 MB |
40 of 2007
The Co-operative Banks Act 40 of 2007 aims:
- to promote and advance the social and economic welfare of all South Africans by enhancing access to banking services under sustainable conditions;
- to promote the development of sustainable and responsible co-operative banks;
- to establish an appropriate regulatory framework and regulatory institutions for co-operative banks that protect members of co-operative banks;
- to provide for the registration of deposit-taking financial services co-operatives as co-operative banks;
- to provide for the regulation and supervision of co-operative banks; and
- to provide for the establishment of co-operative banks supervisors and a development agency for co-operative banks; and
- to provide for matters connected therewith.
Amends
- Banks Act (previously known as Deposit-taking Institutions Act) 94 of 1991
- National Payment System Act 78 of 1998
- Competition Act 89 of 1998
- Financial Services Ombud Schemes Act 37 of 2004
- Co-operatives Act 14 of 2005
Commencement
1 August 2008 (Gazette 31292 of 1 August 2008)