Parliament of South Africa - Co-Operative Banks Act, No. 40 of 2007, as Amended up to February 28, 2014

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The Parliament of South Africa's Co-Operative Banks Act aims to promote and advance the social and economic welfare of all South Africans by enhancing access to banking services under sustainable conditions through the development of responsible co-operative banks. The act establishes a regulatory framework and regulatory institutions for co-operative banks that protect its members by providing for the registration of co-operative banks and the creation of the Development Agency for Co-operative Banks to develop and enhance the sustainability of these financial institutions. The act is divided into several chapters, and sets forth provisions on the following topics:

1. Registration, Constitution, Functions, Management and Auditor of Co-Operative Banks
2. Prudential Requirements and Large Exposures
3. Deposit Insurance Fund
4. Amalgamation, Division, Conversion, Transfer, Judicial Management and Winding-Up of Co-Operative Banks
5. Representative Bodies
6. Support Organizations
7. Administration of Act
8. Co-Operative Banks Development Agency
9. Appeals and Appeal Board
10. Offenses and Penalties

Document Details

Document Type: 
Document Topic: 
Doument Author (Entity): 
Authoring Country: 
Originating Country or Trade Block: 
Issue Status: 
Year of Document: 
2014
Date of Document: 
Friday, February 28, 2014
Document Authors: 
Parliament of South Africa
Language (This Document): 
English

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