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.
G07-115747—A 30628—1 AIDS HELPLINE: 0800-0123-22 Prevention is the cure Government Gazette Staatskoerant REPUBLIC OF SOUTH AFRICA REPUBLIEK VAN SUID-AFRIKA 1 No. 30628 January Januarie Vol. 511 Pretoria, 2008
2 No. 30628 GOVERNMENT GAZETTE, 1 JANUARY 2008 CONTENTS • INHOUD GOVERNMENT NOTICE South African Reserve Bank Government Notice 2 Banks Act (94/1990): Designation of an activity not falling within the meaning of “The Business of a Bank” (Securitisation Schemes)............................................................................................................................................... 3 30628 Gazette No. Page No. No.
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48 No. 30628 GOVERNMENT GAZETTE, 1 JANUARY 2008 30628—1 Printed by and obtainable from the Government Printer, Bosman Street, Private Bag X85, Pretoria, 0001 Publications: Tel: (012) 334-4508, 334-4509, 334-4510 Advertisements: Tel: (012) 334-4673, 334-4674, 334-4504 Subscriptions: Tel: (012) 334-4735, 334-4736, 334-4737 Cape Town Branch: Tel: (021) 465-7531 Gedruk deur en verkrygbaar by die Staatsdrukker, Bosmanstraat, Privaatsak X85, Pretoria, 0001 Publikasies: Tel: (012) 334-4508, 334-4509, 334-4510 Advertensies: Tel: (012) 334-4673, 334-4674, 334-4504 Subskripsies: Tel: (012) 334-4735, 334-4736, 334-4737 Kaapstad-tak: Tel: (021) 465-7531