Every accountable institution, which performs the functions of an accountable institution referred to in items 6, 7, 14 and 16 of Schedule 1 to the Act is exempted, in respect of those functions, from compliance with the provisions of Parts 1 and 2 of Chapter 3 of the Act in respect of every business relationship with a natural person in terms of which an unsecured loan of an amount not exceeding R15 000,00 is made to that person.

Every accountable institution, which performs the functions of an accountable institution referred to in items 6, 7, 14 and 16 of Schedule 1 to the Act is exempted, in respect of those functions, from compliance with the provisions of section 21 and 22(1)(a), 22(1)(b), 22(1)(c), 22(1)(d), 22 (1)(e), 22(1)(h) and 22(1)(i) of the Act in respect of an institution providing similar services with which the accountable institution has entered into a business relationship and which situated in a country where, to the satisfaction of the relevant supervisory body, it is subject to anti-money laundering regulation and supervision of compliance with such anti money laundering regulation, which is equivalent to that which applies to the accountable institution.

Every accountable institution, which performs the functions of an accountable institution referred to in items 6, 7, 14 and 16 of Schedule 1 to the Act is exempted, in respect of those functions, from compliance with the provisions of regulations 3(1)(d), 3(1)(e), 3(2)(d), 3(2)(e), 4(2) and 4 (3) of the Regulations, and of section 22(1)(a), 22(1)(b), 22(1)(c), 22(1)(d), 22(1)(e), 22(1)(h) and 22(1)(i) of the Act concerning the particulars referred to in those regulations, in respect of every business relationship with a natural person who is a citizen of, or resident in, the Republic, in terms of which that person holds an account which —