Co-operative Banks Act 40 of 2007

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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.