Banks Act of South Africa

E635112

Act of Parliament of South Africa banking law financial regulation statute

The Banks Act of South Africa is the primary legislation governing the regulation, supervision, and operation of banks and the broader banking sector within South Africa.

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Statements (45)

Predicate	Object
instanceOf	Act of Parliament of South Africa ⓘ banking law ⓘ financial regulation statute ⓘ
aimsTo	align South African banking regulation with international standards ⓘ promote financial stability in South Africa ⓘ
appliesTo	commercial banks ⓘ mutual banks to the extent specified by law ⓘ
country	South Africa ⓘ
defines	bank ⓘ banking business ⓘ controlling company of a bank ⓘ deposit ⓘ
enforcedBy	Prudential Authority of South Africa NERFINISHED ⓘ South African Reserve Bank NERFINISHED ⓘ
jurisdiction	Republic of South Africa NERFINISHED ⓘ
providesFor	administrative sanctions on banks ⓘ curatorship of banks ⓘ judicial management of banks ⓘ offences and penalties for contraventions ⓘ winding‑up of banks ⓘ
purpose	to maintain public confidence in the banking system ⓘ to promote the soundness of the banking system ⓘ to protect depositors ⓘ to provide for the regulation and supervision of the business of banks ⓘ
regulates	banking business in South Africa ⓘ banks in South Africa ⓘ deposit‑taking institutions ⓘ foreign banks operating in South Africa ⓘ governance of banks ⓘ licensing of banks ⓘ liquidity requirements for banks ⓘ minimum capital requirements for banks ⓘ ownership and control of banks ⓘ prudential requirements for banks ⓘ
relatedTo	Financial Sector Regulation Act of South Africa NERFINISHED ⓘ National Credit Act of South Africa NERFINISHED ⓘ South African Reserve Bank Act NERFINISHED ⓘ
requires	approval for establishment of a bank ⓘ fit and proper criteria for bank directors ⓘ maintenance of adequate liquidity ⓘ maintenance of minimum capital and reserve funds ⓘ prudential returns from banks ⓘ registration of banks ⓘ
sector	banking sector ⓘ
subjectOf	prudential supervision by the South African Reserve Bank ⓘ

Referenced by (1)

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South African Reserve Bank Act → relatedTo → Banks Act of South Africa ⓘ