A bank, a branch by means of which a foreign institution is under section 18A authorized to conduct the business of a bank in the Republic and a representative office established in terms of section 34 must obtain from the Authority a business licence pertaining to its particular business in respect of each year ending on the thirty-first day of December.

[Section 35 substituted by the Schedule: Amendment of Laws: Section 4 of the Financial Sector and Deposit Insurance Levies (Administration) and Deposit Insurance Premiums Act, 2022 (Act No. 12 of 2022), Notice No. 1512, GG47696, dated 9 December 2022 - effective 1 April 2023 per section (c) of Commencement Notice No. 3188, GG48291, dated 24 March 2023]