Banks Amendment Bill [B43-2012]

Call for comments opened 10 July 2013 Share this page:

Finance Standing Committee

The Standing Committee on Finance invites stakeholders and interested parties to submit written submissions on the Banks Amendment Bill [B43-2012].

The Bill aims to:

• Amend the Banks Act, 1990, so as to define certain expressions and to amend certain definitions;

• Bring certain provisions in line with their practical application;

• Update references to legislation and institutions;

• Extend the use of the name bank to representative offices;

• Provide that a contravention of the Financial Intelligence Centre Act, 2001, is a cause for suspension or cancellation of registration as a bank;

• Align the Banks Act, 1990, with the Companies Act, 2008;

• Comply further with the requirements of the Basel Committee of Banking Supervision; and

• Provide for matters connected therewith.

Public hearings will be conducted at Parliament on Wednesday, 24 July 2013.

Submissions can be sent to Mr A Wicomb at or 3rd Floor, 90 Plein Street, Cape Town 8001 by no later than 12:00 on Friday, 19 July 2013. Individuals must indicate if they would like to make an oral presentation to the Committee.

Enquiries can be made with Mr A Wicomb at or tel: 021 403 3759/083 412 1475 or fax: 086 657 4896