Medicines and Related Substances Act, 1965
R 385
Banks Act, 1990 (Act No. 94 of 1990)Chapter III : Authorisation to Establish, and Registration and Cancellation of Registration of, Banks16. Application for registration as bank |
| (1) | An applicant to whom the Authority has under section 13 granted authorization for the establishment of a bank (hereinafter in this Chapter referred to as the institution) may at any time during the period of 12 months commencing on the date of the granting of the said authorization apply to the Authority for the registration of the institution as a bank, provided such authorization has not been revoked in terms of section 14(1). |
| (2) | An application under subsection (1) shall— |
| (a) | be made in the manner and on the form prescribed in the Regulations relating to Banks; and |
[Section 16(2)(a) substituted by section 12(a) of Act No. 19 of 2003]
| (b) | be accompanied by— |
| (i) | two copies each of the institution's memorandum of incorporation; |
[Section 16(2)(b)(i) substituted by section 8 of Act No. 22 of 2013]
| (ii) | a written statement in which is set out— |
| (aa) | the full and the abbreviated name of the institution as well as the literal translations thereof; |
| (bb) | the address of the institution's head office as well as its postal address; |
| (cc) | full particulars of the business the applicant proposes to conduct and of the manner in which it proposes to conduct such business; and |
| (dd) | the full names and the addresses of the chairperson, the other directors and the executive officers of the institution; and |
[Section 162)(b)(ii)(dd) substituted by section 12(b) of Act No. 19 of 2003]
| (iii) | a list of shareholders in the institution, as at the date of the application, drawn up in accordance with the requirements with which a return referred to in section 59 has to comply. |
| (3) | The Authority may require an applicant contemplated in subsection (1) to furnish him or her with such information or documents, in addition to information and documents furnished by the applicant in terms of subsection (2), as the Authority may deem necessary. |
[Section 16(3) substituted by section 12(c) of Act No. 19 of 2003]
| (4) | The application and every document lodged in terms of subsection (2) or (3) shall be signed by the chairperson or the chief executive officer of the institution. |
[Section 16(4) substituted by section 12(d) of Act No. 19 of 2003]
[Section 16 substituted by section 8 of Act No. 26 of 1994, with effect from 1 June 1996]
