| (1) |
[Section 70(1) deleted by section 20(a) of Act No. 20 of 2007] |
[Words preceding section 70(2)(a)(i) substituted by section 38(a) of Act No. 22 of 2013]
| (i) |
R250 000 000 or, in the case of such a bank which immediately prior to the date of commencement of this Act was registered as a banking institution or a building society under a law repealed by this Act, R1 000 000; or |
| (ii) |
an amount which represents a prescribed percentage of the sum of amounts relating to the different categories of assets and other risk exposures and calculated in such a manner as may be prescribed. |
| (b) |
Notwithstanding the provisions of paragraph (a)— |
| (i) |
the sum of the bank's common equity tier 1 capital and common equity tier 1 unimpaired reserve funds shall, in the calculation of the aggregate amount which the bank is in terms of paragraph (a) required to maintain, be— |
[Words preceding section 70(2)(b)(i)(aa) substituted by section 38(b) of Act No. 22 of 2013]
| (aa) |
taken in account to an amount as may be prescribed; and |
| (bb) |
calculated by deducting from the amount thereof such amounts as may be prescribed; and |
| (ii) |
the sum of the bank's additional tier 1 capital and additional tier 1 unimpaired reserve funds shall, in the calculation of the aggregate amount which the bank is in terms of paragraph (a) required to maintain, be— |
[Words preceding section 70(2)(b)(ii)(aa) substituted by section 38(c) of Act No. 22 of 2013]
| (aa) |
taken into account to an amount as may be prescribed; and |
| (bb) |
calculated by deducting from the amount thereof such amounts as may be prescribed: |
[Proviso to section 70(2)(b)(ii) deleted by section 38(d) of Act No. 22 of 2013]
| (iii) |
the sum of the bank's tier 2 capital and tier 2 unimpaired reserve funds shall, in the calculation of the aggregate amount which the bank is in terms of paragraph (a) required to maintain, be— |
| (aa) |
taken into account to an amount as may be prescribed; and |
| (bb) |
calculated by deducting from the amount thereof such amounts as may be prescribed. |
[Section 70(2)(b)(iii) inserted by section 38(e) of Act No. 22 of 2013]
[Section 70(2) substituted by section 20(b) of Act No. 20 of 2007]
| (a) |
A bank of which the business consists solely of trading in financial instruments shall manage its affairs in such a way that, subject to the provisions of paragraph (b), the sum of its common equity tier 1 capital, additional tier 1 capital and tier 2 capital, and its common equity tier 1 unimpaired reserve funds, additional tier 1 unimpaired reserve funds and tier 2 unimpaired reserve funds in the Republic does not at any time amount to less than the greater of— |
[Words preceding section 70(2A)(a)(i) substituted by section 38(f) of Act No. 22 of 2013]
| (ii) |
an amount which represents a prescribed percentage of the sum of amounts relating to the different categories of assets and other risk exposures and calculated in such a manner as may be prescribed. |
| (b) |
Notwithstanding the provisions of paragraph (a)— |
| (i) |
the sum of the bank's common equity tier 1 capital and common equity tier 1 unimpaired reserve funds shall, in the calculation of the aggregate amount which the bank is in terms of paragraph (a) required to maintain, be— |
[Words preceding section 70(2A)(b)(i)(aa) substituted by section 38(g) of Act No. 22 of 2013]
| (aa) |
taken into account to an amount as may be prescribed; and |
| (bb) |
calculated by deducting from the amount thereof such amounts as may be prescribed; |
| (ii) |
the sum of the bank's additional tier 1 capital and additional tier 1 unimpaired reserve funds shall, in the calculation of the aggregate amount which the bank is in terms of paragraph (a) required to maintain, be— |
[Words preceding section 70(2A)(b)(ii)(aa) substituted by section 38(h) of Act No. 22 of 2013]
| (aa) |
taken into account to an amount as may be prescribed; and |
| (bb) |
calculated by deducting from the amount thereof such amounts as may be prescribed: |
[Proviso to section 70(2A)(b)(ii) deleted by section 38(i) of Act No. 22 of 2013]
| (iii) |
the sum of a bank's tier 2 capital and tier 2 unimpaired reserve funds shall, in the calculation of the aggregate amount which the bank is in terms of paragraph (a) required to maintain, be— |
[Words preceding section 70(2A)(b)(iii)(aa) substituted by section 38(j) of Act No. 22 of 2013]
| (aa) |
taken into account to an amount as may be prescribed; and |
| (bb) |
calculated by deducting from the amount thereof such amounts as may be prescribed: |
[Proviso to section 70(2A)(b)(iii) deleted by section 38(k) of Act No. 22 of 2013]
| (iv) |
the total amount of allocated and qualifying common equity tier 1 capital, allocated and qualifying common equity tier 1 unimpaired reserve funds, allocated and qualifying additional tier 1 capital, allocated and qualifying additional tier 1 unimpaired reserve funds, allocated and qualifying tier 2 capital and allocated and qualifying tier 2 unimpaired reserve funds shall be determined as prescribed. |
[Section 70(2A)(b)(iv) substituted by section 38(l) of Act No. 22 of 2013]
[Section 70(2A) substituted by section 20(c) of Act No. 20 of 2007]
| (a) |
A bank of which the business includes trading in financial instruments shall manage its affairs in such a way that, subject to the provisions of paragraph (b), the sum of its common equity tier 1 capital, additional tier 1 capital and tier 2 capital and its common equity tier 1 unimpaired reserve funds, additional tier 1 unimpaired reserve funds and tier 2 unimpaired reserve funds in the Republic does not at any time amount to less than the greater of— |
[Words preceding section 70(2B)(a)(i) substituted by section 38(m) of Act No. 22 of 2013]
| (ii) |
an amount which represents a prescribed percentage of the sum of amounts relating to the different categories of assets and other risk exposures and calculated in such a manner as may be prescribed. |
| (b) |
Notwithstanding the provisions of paragraph (a)— |
| (i) |
the sum of the bank's common equity tier 1 capital and common equity tier 1 unimpaired reserve funds shall, in the calculation of the aggregate amount which the bank is in terms of paragraph (a) required to maintain, be— |
[Words preceding section 70(2B)(b)(i)(aa) substituted by section 38(n) of Act No. 22 of 2013]
| (aa) |
taken into account to an amount as may be prescribed; and |
| (bb) |
calculated by deducting from the amount thereof such amounts as may be prescribed; and |
| (ii) |
the sum of the bank's additional tier 1 capital and additional tier 1 unimpaired reserve funds shall, in the calculation of the aggregate amount which the bank is in terms of paragraph (a) required to maintain, be— |
[Words preceding section 70(2B)(b)(ii)(aa) substituted by section 38(o) of Act No. 22 of 2013]
| (aa) |
taken into account to an amount as may be prescribed; and |
| (bb) |
calculated by deducting from the amount thereof such amounts as may be prescribed: |
[Proviso to section 70(2B)(b)(ii) deleted by section 38(p) of Act No. 22 of 2013]
| (iii) |
the sum of a bank's tier 2 capital and tier 2 unimpaired reserve funds shall, in the calculation of the aggregate amount which the bank is in terms of paragraph (a) required to maintain, be— |
[Words preceding section 70(2B)(b)(iii)(aa) substituted by section 38(q) of Act No. 22 of 2013]
| (aa) |
taken into account to an amount as may be prescribed; and |
| (bb) |
calculated by deducting from the amount thereof such amounts as may be prescribed: |
[Proviso to section 70(2B)(b) (iii) deleted by section 38(r) of Act No. 22 of 2013]
| (iv) |
the total amount of allocated and qualifying common equity tier 1 capital, allocated and qualifying common equity tier 1 unimpaired reserve funds, allocated and qualifying additional tier 1 capital, allocated and qualifying additional tier 1 unimpaired reserve funds, allocated and qualifying tier 2 capital and allocated and qualifying tier 2 unimpaired reserve funds shall be determined as prescribed. |
[Section 70(2B)(b)(iv) substituted by section 38(s) of Act No. 22 of 2013]
[Section 70(2B) substituted by section 20(d) of Act No. 20 of 2007]
| (3) |
[Section 70(3) deleted by section 12(d) of Act No. 36 of 2000] |
| (4) |
[Section 70(4) deleted by section 45(e) of Act No. 26 of 1994] |
| (5) |
[Section 70(5) deleted by section 12(d) of Act No. 36 of 2000] |
| (6) |
[Section 70(6) deleted by section 45(h) of Act No. 26 of 1994] |
| (7) |
[Section 70(7) deleted by section 45(h) of Act No. 26 of 1994] |
Medicines and Related Substances Act, 1965
