FINANCIAL SECTOR REGULATION ACT: MORE SECTIONS IN FORCE

FINANCIAL SECTOR REGULATION ACT: MORE SECTIONS IN FORCE

• 25 March 2023
• Financial Sector
• SA Legal Academy

National Treasury has announced the commencement of more sections of the Financial Sector Regulation Act, 2017, as amended by the Financial Sector Laws Amendment Act, 2021. They are listed in a Government Gazette notice published on 25 March 2023 but backdated to the previous day.

Sections of the principal Act in force from 24 March 2023 were inserted under Chapter 12A, which deals with the resolution of designated institutions. More Chapter 12A sections are scheduled to come into force on 1 June 2023.

It would appear from the notice that most (if not all) sections of the principal Act not yet in effect will also commence on 1 June 2023. That said, the notice should probably be read with three others announcing related commencement dates on which SA Legal Academy has already reported.

• Government Gazette notice focusing on the Financial Sector Regulation Act, 2017, as amended by the Financial Sector Laws Amendment Act, 2021
• related Government Gazette notices (three) announcing more commencement dates

Published by SA Legal Academy Policy Watch

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