Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)

Chapter 14 : Ombuds

Purchase

(1)	The Ombud Council may, by notice to a recognised industry ombud scheme, revoke the recognition of an industry ombud scheme—

(a)	if the industry ombud scheme applies for revocation;

(b)	on any of the bases on which it may suspend recognition, as set out in section 198(1)(b) to (g); or

(c)	if the scheme has ceased to function.

(2)	Revocation of recognition takes effect on the date of the notice in terms of subsection (1) or, if the notice specifies a later date, the later date.

[Section 199 to take effect on 1 April 2020, per Notice No. 1130 of 2019, GG 42677, dated 30 August 2019]