Regulatory Alerts2008-01-15
C1/08: Status of Previously Issued Circulars
The Registrar of Banks at the South African Reserve Bank annually confirms the status of previously issued circulars to clarify their continued applicability for banks, controlling companies, eligible institutions, and auditors. Unless explicitly published in the annual Circular 1, all prior circulars are deemed withdrawn or replaced, while those remaining effective retain their original numbering and dates. Institutions must retain copies of the active circulars, such as Circular 7/2007 regarding external credit assessment institutions, and return a jointly signed acknowledgement of receipt to the Registrar.
[Logo: South African Reserve Bank] From the Office of the Registrar of Banks
Confidential
2008-05-07 C1/08
TO ALL BANKS, CONTROLLING COMPANIES, BRANCHES OF FOREIGN BANKS AND ELIGIBLE INSTITUTIONS
CIRCULAR 1/2008 ISSUED IN TERMS OF SECTION 6(4) OF THE BANKS ACT, 1990: STATUS OF PREVIOUSLY ISSUED CIRCULARS
EXECUTIVE SUMMARY
In order to ensure that banks (including branches of foreign banks), controlling companies, eligible institutions and auditors of a bank or controlling company are in no doubt as to which previously issued circulars remain effective this Office will annually confirm their status. The status of these circulars will be confirmed with the first circular to be issued for that particular year.
1. Introduction
All previously issued circulars are deemed to be withdrawn/terminated/replaced except if such a circular is to remain effective and is then accordingly published in Circular 1 of that year. The circulars that remain effective will retain their original numbers and dates.
2. Effective Circulars
The circular listed below remains effective until further notice. Accordingly, banks, controlling companies, eligible institutions and auditors of a bank or controlling company are hereby requested to retain a copy of this circular.
| Circular | Brief Details | |
|---|---|---|
| 2.1 | Banks Act Circular 7/2007 | Recognition of eligible external credit assessment institutions in terms of the amended Banks Act, 1990. |
PO Box 8432 Pretoria 0001 • 370 Church Street Pretoria 0002 • South Africa • Tel +27 12 3133911/0861 12 7272 • Fax +27 12 3133758 • www.reservebank.co.za
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3. Acknowledgement of Receipt
Two additional copies of this circular are enclosed for the use of your institution's independent auditors. The attached acknowledgement of receipt, duly completed and signed by both the chief executive officer of the institution and the said auditors, should be returned to this Office at the earliest convenience of the aforementioned signatories.
[Signature]
E M Kruger Registrar of Banks