Statistics Act, 1999
R 385
Inspection of Financial Institutions Act, 1998 (Act No. 80 of 1998)3. Inspection of institutions |
| 1) | The registrar may at any time instruct an inspector to carry out an inspection of the affairs, or any part of the affairs, of a financial institution or associated institution. |
| 2) | If the registrar has reason to believe that a person, partnership, company or trust which is not registered or approved as a financial institution, is carrying on the business of a financial institution, he or she may instruct an inspector to inspect the affairs, or any part of the affairs, of such a person, partnership, company or trust. |
| 3) | Any person who holds shares in an institution as a nominee or in trust on behalf of another person, must upon the request of an inspector or the registrar, disclose the name of that other person. |
| 4) | Before the registrar instructs an inspector to carry out an inspection he or she must take all reasonable steps to ensure that the person so instructed will be able to report objectively and impartially on the affairs of the institution. |
