Regulatory Alerts2002-01-05
Designation of Securitisation Schemes Under the Banks Act
The South African Reserve Bank issued Government Notice 2 to formally designate securitisation schemes as an activity that does not fall within the statutory definition of the business of a bank under the Banks Act of 1990. This regulatory clarification exempts qualifying securitisation structures from standard banking licensing requirements, thereby facilitating their development within the South African financial system. The notice was published in Government Gazette No. 30628 on 1 January 2008 to provide legal certainty for market participants engaging in these specific financial transactions.
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