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

Chapter II : Administration of Act

Purchase

[Section 5 heading substituted by section 290, item 15 in Schedule 4, of Act No. 9 of 2017]

(1)	The Authority may with the approval of the Reserve Bank—

(a)	delegate to any officer or employee of the Reserve Bank or another financial sector regulator any power conferred upon the Authority by or under this Act; or

[Section 5(1)(a) substituted by section 3 of Act No. 22 of 2013]

(b)	authorise any such officer or employee to perform any duty assigned to the Authority by or under this Act.

(2)	Any delegation under subsection (1)(a) shall not prevent the exercise of the relevant power by the Authority.

[Section 5(2) substituted by section 290, item 5 in Schedule 4, of Act No. 853 of 2017]