Broad-Based Black Economic Empowerment Act, 2003
R 385
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Banks Act, 1990 (Act No. 94 of 1990) Chapter VIII : Control of certain activities of Unregistered Persons82. Authority's power to exact information from unregistered persons |
[Section 82 heading substituted by section 290, item 15 in Schedule 4, of Act No. 9 of 2017]
| (1) | If the Authority has reason to suspect that any person who is neither registered as a bank nor authorized in terms of the provisions of section 18A(1) to carry on the business of a bank is carrying on the business of a bank, the Authority may by notice in writing direct that person to submit to the Authority such document or to furnish the Authority with such information, relating to the affairs of that person, as the Authority may specify in the notice and as may be available to that person. |
[Section 82(1) substituted by section 58 of Act No. 19 of 2003]
| (2) | A document or information referred to in subsection (1) shall be submitted or furnished within such period as the Authority may specify in the relevant notice or within such extended period as the Authority may allow on application made by the person concerned before the expiration of the period initially specified in the notice. |
| (3) | Any person who refuses to comply, or fails to comply within the specified or extended period referred to in subsection (2), with a direction issued by the Authority under subsection (1) shall be guilty of an offence. |
