Mutual banks act 124 of 1993 pdf

The building societies act later renamed the mutual building societies act was finally repealed in 1993, and the two remaining building societies were then converted into mutual banks registered in terms of the mutual banks act 124 of 1993. The banks act 94 of 1990 section 871 a and mutual banks act 124 of 1993 section 881 insurance policy age at which a child can take out an insurance policy in their own name 18 the 18 year old can entervary or deal with a long term policy under which heshe is the beneficiary as if heshe was a major longterm insurance act 52 of 1998. Section 1 of the mutual banks act, 1993 hereinafter referred to as the principal act, is hereby amended by the deletion in subsection 1 of the definition of terminating mutual building society. Deposittaking institutions amendment act 9 of 1993 government notice 369 in government gazette 14626 dated 10 march 1993. Section 3 21 according to the mutual banks act of 1993 registration of mutual banks had two stages. Delegation of powers and assignment of duties by registrar. Amends sa reserve bank, banking institutions, mutual building societies and building societies. An account or accounts in the name of the fund opened with a bank as defined in the banks act 94 of 1990 or a mutual bank as defined in the mutual banks act 124 of 1993. To provide for the regulation and supervision of the activities of juristic persons doing business as mutual banks. Business brief december 2011 usa federal taxes irs. The mutual banks act 124 of 1993 the cooperative banks act 40 of 2007 the nationalpayment system of south africa act 78 of 1998 the nationalcredit act 34 of 2005 the financial intelligence centre act 38 of 2001 the financial. Amends sa reserve bank, banking institutions, mutual building societies and. Designation of commissioners of oaths in terms of section 6 page 3 of 12. The mutual banks act 124 of 1993 the cooperative banks act 40 of 2007 the nationalpayment system of south africa act 78 of 1998 the nationalcredit act 34 of 2005 the financial intelligence centre act 38 of 2001 the financial advisory and intermediary services act 37 of 2002.

If you are a moderator please see our troubleshooting guide. Financial intelligence centre act pule incorporated. The regulations relating to banks and the regulations relating to mutual banks the regulations. Repayment of deposits upon lapse of registration 30. Disclosure by directors of interest in contracts with mutual bank 40. Banking institution registered in terms of the banks act, 1990 act no. Be it enacted by the state president and the parliament of the republic of south africa, as follows. Market infrastructure as defined in the financial markets act 2012 act no. A person who carries on a longterm insurance business as defined in the longterm insurance act 52 of 1998.

You may be trying to access this site from a secured browser on the server. Authorization to establish, and registration and cancellation of registration of, mutual banks. Addressing conflicts of interest if remarks delivered to american bankers associations legislative liaison advisory committee naples, florida february ii j 1993 the views expressed herein are those of commissioner roberts and do not necessarily represent those of the commission, other commissioners or the staff. Understanding mandatory audit firm rotation in south africa. Publication of information relating to mutual banks 28. Section 51 of the banks act, 1990, is hereby amended by the repeal in subsection 1 of paragraph c. The law of persons in south africa regulates the birth, privatelaw status and the death of a natural person. Amended by mb amendment act 54 of 1999 from 20 mar 2000. Legal guide to age thresholds for children and young people. Mutual banks registered in terms of the mutual banks act 124 of 1993 whose business is in full or in part either the acceptance of deposits from the general public, the advance of credit to persons or both such acceptance and advance with the security of a registered mortgage bond or. Sizwentsalubagobodo advisory services was appointed, in terms of section 81 of the mutual banks act 124 of 1993 the mutual banks act, as the curator to vbs. Definition of banker substituted by definition of bank by s.

Powers of inspection of, and guidelines by, registrar. Rights and the childrens act or whether such a child loses the protection of section 28 in the bill of rights or the provisions set out in the childrens act. Standard terms and conditions applicable to all mandates part. Mutual banks act means the mutual banks act, 1993 act 124 of 1993.

The core principles for effective banking supervision core principles. This function is performed by issuing banking licences to banking institutions, and monitoring their activities in terms of either the banks act, 1990 act no. From a payment system viewpoint the bills of exchange act deals mainly with the usage of paperbased cheques and bills of. A person who carries on the business of a bank as defined in the bank act 94 of 1990. Amendment of regulation 28 of the regulations made under section 36 i, pravin j gordhan, minister of finance, in terms of section 361bb and c and section 40c of the pension funds act, 1956 act no. Mutual building societies and building societies amendment act 96 of 1988. Payment systems in south africa bank for international.

Safe deposit of securities act 85 of 1992 government notice 1773 in government gazette 14080 dated 1 july 1992. Standard terms and conditions applicable to all mandates. A mutual bank as defined in the mutual banks act 124 of 1993. A licensed central securities depository a licensed clearing house. Reg of interccommand provision of comminformation act no 70 of 2002. Mutual banks act updated to 18 march 2019 act 124 of 1993 g.