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

Chapter 14 : Ombuds

Purchase

(1)	Chapter 13 applies in relation to the Ombud Council as if references in that Chapter—

(a)	to a financial sector law were references to a financial sector law in so far as it relates to ombud schemes; and

(b)	to a financial sector regulator were references to the Ombud Council.

(2)	Despite subsection (1), the Ombud Council may impose an administrative penalty only on an ombud scheme, a member of the governing body of an ombud scheme, or an ombud.

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