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Banks Act, 1990 (Act No. 94 of 1990)

Regulations

Regulations relating to Representative Offices

2. Operational information

 

(1) A representative office shall, for purposes of enabling the Registrar to perform his/her function under the Act, within twenty business days immediately following the last day of the reporting period to which the required information relates, furnish the Registrar with information in the format of the form RO 001, prescribed in ANNEXURE A to these Regulations.

 

(2) The information required to be reported shall be reflected against the appropriate items, and in the columns, specified in form RO 001.

 

(3) Except where otherwise indicated, form RO 001 shall be completed in US dollars.

 

(4) The chief representative officer of the representative office shall sign and certify form RO 002, prescribed in ANNEXURE B to these Regulations, in respect of each form RO 001 return rendered in terms of these Regulations, whether such return is rendered on a prescribed form or by means of an electronic facility: Provided that, in the event of the chief representative officer of the representative office not being available to sign the completed form RO 002, the officer performing the functions of the chief representative officer shall sign the said form in an acting capacity and not on behalf of the absent officer, and the normal office of the officer so acting shall be clearly indicated on form RO 002.

 

(5) The furnishing of the returns prescribed in these Regulations, whether by way of the completion of the prescribed form or by electronic means, shall be done at the intervals prescribed in these Regulations, and such returns shall be forwarded to the Registrar at PO Box 8432, Pretoria, 0001. Additional facilities are provided by the Registrar for the electronic rendition of the information required to be contained in the prescribed return, and further details can be obtained from that Office.