In order to qualify for accreditation a support organisation must demonstrate, to the satisfaction of the Agency, that-
| (a) |
[Section 37(a) deleted by section 245(a) of Act No. 45 of 2013]; |
| (b) |
support agreements have been entered into with at least two co-operative banks or co-operative financial institutions, which support agreements may provide for— |
| (i) |
development and support; |
| (ii) |
ongoing education and training of members, directors and personnel; and |
| (iii) |
assistance in managing and maintaining prudential requirements, establishment of risk management systems, improvement of governance arrangements and audits; |
[Section 37(b) amended by section 245(b) of Act No. 45 of 2013]
| (c) |
it has the requisite experience, knowledge, qualifications and competence to give effect to its obligations in terms of the support agreements; and |
| (d) |
it has sufficient human, financial, and operational capacity to function efficiently and competently. |
Financial Services Board Act, 1990
