Examples of Mutual Banks Act in a sentence
A mutual bank as defined in the Mutual Banks Act, 1993 (Act 124 of 1993).
All money received by the Authority must be deposited in a banking account in the name of the Authority with a bank established under the Banks Act, 1990 (Act 94 of 1990), or a mutual bank established under the Mutual Banks Act, 1993 (Act 124 of 1993).
A mutual bank as defined in the Mutual Banks Act, 1993 (Act No. 124 of 1993).
Finbond applies to the South African Reserve Bank to establish and register a mutual bank in terms of the Mutual Banks Act No. 124 of 1993 in order to provide clients with a full range of low-cost banking services through its existing branch infrastructure.
This section highlights some of the primary pieces of legislation governing the sector.The Banks Act of 1990 (or the Mutual Banks Act of 1993, or Co-operative Banks Act of 200712) sets out the financial and governance requirements for acquiring and operating a banking license.13 The Registrar of Banks at the South African Reserve Bank issues banking license.The capital holdings for banks are governed within the Basel Capital Accord.
A credit balance in an account with, or a deposit, including a negotiable deposit and a bill, accepted by, an institution finally registered under the Banks Act, 1990 (ActNo. 94 of 1990), or the Mutual Banks Act, 1993 (Act No. 124 of 1993).
Registered banks refer to any bank registered in terms of the Banks Act 94 of 1990, a cooperative bank registered in terms of the Cooperative Banks Act 40 of 2007 or a mutual bank registered in terms of the Mutual Banks Act 124 of 1993.
Gas turbines are constructed to figure on the following: -oil, gas, coal gas, air gas, furnace and pulverized coal.
Regulation 6(1) requires that the auditor of a mutual bank shall annually report on the mutual bank’s financial position and the result of its operations as reflected in all the returns, submitted in terms of Section 53 of the Mutual Banks Act, referred to in Regulation 6(5) that had been submitted to the Registrar as at the end of the financial year end of the reporting mutual bank.
Other prudential legislation includes: The Mutual Banks Act 124 of 1993 and the Co- operative Banks Act 40 of 2007.265 Financial Regulatory Steering Committee op cit note 252 at 6-8.