South African Government

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South African Reserve Bank Amendment Act 2 of 1996

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2 of 1996

The South African Reserve Bank Amendment Act 2 of 1996 intends:

  • to amend the South African Reserve Bank Act, 1989, so as
  • to replace, insert or delete certain definitions;
  • to redetermine the primary objective of the South African Reserve Bank;
  • to further regulate the appointment of certain directors of the Bank;
  • to replace or delete certain obsolete expressions and provisions;
  • to supplement the powers of the Bank in respect of transactions in certain financial instruments;
  • to prescribe corrective steps ill the event of the acquisition of shares in the Bank in excess of the permissible maximum shareholding; and
  • to extend the provisions regarding an offence in connection with gold coins; and
  • to provide for matters connected therewith.

Commencement

15 March 1996