South African Reserve Bank Act, 1989 (Act No. 90 of 1989)

1. Definitions

Purchase

In this Act, unless the context otherwise indicates-

"associate"

in relation to a shareholder—

a)	if the shareholder is a natural person, means—

i)	a close relative of the shareholder; or

ii)	any person who has entered into an agreement or arrangement with the shareholder, relating to the acquisition, holding or disposal of, or the exercising of voting rights in respect of, shares of the Bank;

b)	if the shareholder is a juristic person—

i)	which is a company, means any subsidiary or holding company of that company, any other subsidiary of that holding company and any other company of which that holding company is a subsidiary;

ii)	which is a close corporation registered under the Close Corporations Act, 1984 (Act No. 69 of 1984), means any member thereof as defined in section 1 of that Act;

iii)	which is not a company or a close corporation as contemplated in this paragraph, means another juristic person which would have been a subsidiary of the first-mentioned juristic person—

aa)	had such first-mentioned juristic person been a company; or

bb)	in the case where that other juristic person, too, is not a company, had both the first-mentioned juristic person and that other juristic person been a company;

iv)	means any person in accordance with whose directions or instructions the board of directors of or, in the case where the juristic person is not a company, the governing body of the juristic person is accustomed to act; and

c)	in respect of all shareholders, being either natural or legal persons—

i)	means any juristic person of which the board of directors or, in the case where such juristic person is not a company, of which the governing body is accustomed to act in accordance with the directions or instructions of the shareholder; and

ii)	includes any trust controlled or administered by the shareholder;

[definition inserted by section 1 (a) of Act No. 4 of 2010]

"Bank"

means the South African Reserve Bank established by section 9 of the Currency and Banking Act;

"bank"

means a bank as defined in section 1 (1) of the Banks Act, 1990 (Act 94 of 1990), and, for the purposes of section 10A, includes a mutual bank;

"banking institution"

[deleted by s. 1 (b) of Act 10 of 1993.]

"Board"

means the board of directors referred to in section 4(1);

"building society"

[deleted by s. 1 (c) of Act 10 of 1993.]

"close relative"

in relation to a shareholder, means—

a)	a spouse, including a domestic or life partner or a party to any recognised union in terms of custom or the tenets of any religion—

i)	of the shareholder; or

ii)	of a person mentioned in paragraph (b) below; and

b)	a child, sibling, step-child, parent or step-parent of the shareholder;

[definition inserted by section 1 (b) of Act No. 4 of 2010]

"Currency and Banking Act"

means the Currency and Banking Act, 1920 (Act 31 of 1920);

"Department of Finance"

includes the Minister or any officer in the Department of Finance authorized by the Minister to perform any function assigned to that Department in this Act;

"Deputy Governor"

means a person appointed under section 4 or 6(1) (a) as a Deputy Governor of the Bank;

"elected director"

means a member of the Board elected by shareholders;

[definition inserted by section 1 (c) of Act No. 4 of 2010]

"employee of Government"

means any person who is employed by or works for Government and who either receives or is entitled to receive a salary in respect of such employment or work, or derives the major part of his or her income from such employment or work

[definition inserted by section 1 (c) of Act No. 4 of 2010]

"financial instrument"

means-

a)	any security as referred to in the definition of "securities" in section 1 of the Stock Exchanges Control Act, 1985 (Act 1 of 1985);

b)	any financial instrument as defined in section 1 of the Financial Markets Control Act, 1989 (Act 55 of 1989), irrespective, in the case of such instrument that is an instrument creating or acknowledging indebtedness, of the term for which it has been issued;

c)	any right or other benefit in respect of or accruing to a security referred to in paragraph (a) or a financial instrument referred to in paragraph (b); and

d)	any other instrument, right or benefit declared by the Minister by notice in the Gazette to be a financial instrument for the purposes of section 10 (1) (h);

"Government"

means the national, provincial and local spheres of government in the Republic, as envisaged in section 40 (1) of the Constitution of the Republic of South Africa, 1996;

[definition inserted by section 1 (d) of Act No. 4 of 2010]

"Government representative"

means a member of the Board appointed under section 4 or 6 (1) (a), but does not include the Governor or a Deputy Governor;

"Governor"

means the person appointed under section 4 or 6 (1) (a) as the Governor of the Bank;

"Minister"

means the Minister of Finance;

"mutual bank"

means a mutual bank as defined in section 1 (1) of the Mutual Banks Act, 1993 (Act 124 of 1993);

"NEDLAC"

means the National Economic, Development and Labour Council, established in terms of section 2 of the National Economic, Development and Labour Council Act, 1994 (Act No. 35 of 1994);

[definition inserted by section 1 (e) of Act No. 4 of 2010]

"mutual building society"

[deleted by s. 1 (d) of Act 2 of 1996.]

"Panel"

means a panel as referred to in section 4 (1C);

[definition inserted by section 1 (f) of Act No. 4 of 2010]

"prescribed"

means prescribed by regulation;

"Republic"

[deleted by s. 1 (e) of Act 2 of 1996.]

"shareholder"

means any holder of shares in the Bank;

"shareholders’ representative"

[deleted by section 1 (g) of Act No. 4 of 2010]

"special drawing right"

means a unit of an international reserve asset provided for in the Articles of Agreement of the International Monetary Fund;

"territory"

[deleted by s. 1 (f) of Act 2 of 1996.]

"Treasury"

includes the Minister or any officer in the Department of Finance authorized by the Minister to perform any function assigned to the Treasury in this Act.