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Banks Act, 1990 (Act No. 94 of 1990)

Chapter III : Authorisation to Establish, and Registration and Cancellation of Registration of, Banks

31. Date on which registration lapses

 

An institution registered as a bank shall cease to be registered as such—

(a) [Paragraph (a) deleted by section 24 of Act No. 26 of 1994, with effect from 1 June 1996];
(b) in the case of a registration cancelled by the Authority under section 23 upon expiry of 30  days after the date of the notice referred to in subsection (1), (2) or (3) of that section or, if an application for the review of such a decision to cancel was lodged with the board of review in terms of section 9 before the expiry of the said 30 days and the board of review has confirmed such cancellation, upon the date on which the institution concerned is notified of such confirmation;

[Paragraph (b) substituted by section 6 of Act No. 36 of 2000]

(c) in the case of a registration in respect of which the court has granted an order under section 25 cancelling the registration, upon the date on which that order comes into force; or
(d) in the case of a registration cancelled by the Authority in terms of section 27 or 28, upon such date as may be determined by the Authority.