Statistics Act, 1999
R 385
Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 2 : Financial StabilityPart 4 : Financial Sector Contingency Forum25. Financial Sector Contingency Forum |
| (1) | The Governor must establish a forum called the Financial Sector Contingency Forum. |
| (2) | The primary objective of the Financial Sector Contingency Forum is to assist the Financial Stability Oversight Committee with— |
| (a) | the identification of potential risks that systemic events will occur; and |
| (b) | the co-ordination of appropriate plans, mechanisms and structures to mitigate those risks. |
| (3) | The Financial Sector Contingency Forum is composed of at least eight members, including— |
| (a) | a Deputy Governor designated by the Governor, which Deputy Governor is the Chairperson; |
| (b) | representatives of each of the financial sector regulators; |
| (c) | representatives of other organs of state, as the Chairperson may determine; and |
| (d) | representatives of financial sector industry bodies and any other relevant person, as the Chairperson may determine. |
| (4) | The Financial Sector Contingency Forum must meet at least every six months. |
| (5) | The Financial Sector Contingency Forum must be convened and must function in accordance with procedures determined by the Governor. |
| (6) | The Reserve Bank must provide administrative support, and other resources, including financial resources, for the effective functioning of the Financial Sector Contingency Forum. |
