What Banks Act 94 of 1990 requires
This Act provides the legal framework for the regulation and supervision of the business of public companies taking deposits from the public in South Africa. It mandates that no person shall conduct the 'business of a bank' unless such person is a public company and is registered as a bank in terms of this Act (Section 11), and it establishes prudential requirements for capital adequacy, liquidity, and risk management.
Pillar: Banking & Global Finance · Authority: Parliament of the Republic of South Africa / Prudential Authority (SARB) · Version: 1.0.0 · Last updated:
Primary source: https://www.gov.za/sites/default/files/gcis_document/201503/act-94-1990s.pdf
SHA-256 integrity: 3c49a15e67c7acec5f0f04747f5b974f095416e450c1d9386243a9a2fc4a0807
Primary Citations — 7 traced to source
- Banks Act 94 of 1990, Section 11 - Restriction on carrying on business of a bank
- Banks Act 94 of 1990, Section 12 - Application for authorization to establish bank
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