Financial Services Ombud Schemes Act, 2004 (Act No. 37 of 2004)

17. Declaration as financial instititution

Purchase

(1)	The Minister may, by notice in the Gazette and after consultation with the board and the Council, declare any person as a financial institution.

(2)

(a)	Any person who has not been declared a financial institution and who wishes to be so declared may apply in writing to the board through the registrar for such declaration.

(b)	An application contemplated in paragraph (a) must contain substantiating reasons for such application.

(c)	The board must submit any application received by it together with its recommendation and that of the Council to the Minister for final decision.