Regulatory Alerts2020-06-26
Guidance Note 1/2020: Model Constitution for Co-operative Financial Institutions and Co-operative Banks
The Prudential Authority issues this guidance note to require prospective and registered co-operative financial institutions and co-operative banks to utilize a standardized model constitution for registration under the Co-operative Banks Act, 2007. It mandates alignment with Prudential Standard TCFI-01 and details mandatory governance, membership, financial management, and compliance provisions necessary for regulatory approval. Entities adopting this template streamline their application process while ensuring full compliance with South African cooperative and prudential regulatory frameworks.
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