Council for Medical Schemes Levies Act, 2000
R 385
"banking group"
means a group consisting of two or more persons, whether natural or juristic persons, that are predominantly engaged in financial activities and one or more of which is a bank and—
| (a) | each of which persons is an associate, as defined in section 37(7), of a any one of the others; or |
| (b) | which persons are so interconnected that should one of them experience financial difficulties, another one or all of them would likely be adversely affected, |
irrespective of whether any of those persons is domiciled in the same country as any of the others;
[Definition inserted by section 1(a) of Act No. 36 of 2000]
