CO‐OPERATIVE BANKS ACT, NO 40 OF 2007. The general provisions of the Act include the following: To promote and advance the social and economic welfare of all South Africans by enhancing access to banking services under sustainable conditions To promote the development of sustainable and responsible co‐operative banks To establish an appropriate regulatory framework and regulatory institutions for co‐ operative banks that protect members of co‐operative banks To provide for the registration of deposit‐taking financial services co‐operatives as co‐ operative banks; To establish supervisors to ensure appropriate and effective regulation and supervision of co‐operative banks, and to protect members and the public interest; To establish a Development Agency for Co‐operative Banks to develop and enhance the sustainability of co‐operative banks
