Older Persons Act, 2006
R 385
Mutual Banks Act, 1993 (Act No. 124 of 1993)Chapter V : Prudential requirements53. Returns |
| (1) | A mutual bank shall, in order to enable the Registrar to determine— |
| (a) | whether the mutual bank is complying with the provisions of sections 48 and 50 of this Act or of section 10A of the South African Reserve Bank Act, 1989 (Act No. 90 of 1989) as applied by section 49 of this Act;or |
| (b) | the nature and amounts of the mutual bank's assets, liabilities and contingent liabilities, |
furnish the Registrar, subject to the provisions of subsection (3A), with returns.
| (2) | [Section 53(2) deleted by Act No. 54 of 1999 Government Gazette No. 20727]. |
| (3) | A mutual bank shall, in addition to the returns referred to in subsection (1), furnish the Registrar, subject to subsection (3A), with the prescribed returns, including returns relating to the extent and management of risk exposures in the conduct of its business. |
| (3A) | The returns referred to in subsections (1) and (3) shall be prepared in conformity with generally accepted accounting practice and shall be furnished to the Registrar in respect of such period, at such times and on such a form as may be prescribed. |
| (4) | A mutual bank shall furnish the Registrar, in respect of those of the respective returns referred to in subsections (1) and (3) which most nearly coincide with the end of the financial year of the mutual bank, with a report by the auditor of the mutual bank in which is stated whether or not those returns fairly and in conformity with generally accepted accounting practice present those affairs of the mutual bank to which the returns relate, and the Registrar may, if he deems it necessary, require the mutual bank so to furnish him or her with such a report in respect of any other of those returns furnished during the financial year. |
| (5) | A mutual bank shall, at such times as may be prescribed, furnish the Registrar with such further prescribed information as the Registrar may require. |
