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Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)

Chapter 10 : Enforcement

Part 4 : Court orders

152. Compliance with financial sector laws

 

(1) The responsible authority for a financial sector law may commence proceedings against a person in the High Court for an order to ensure compliance with the financial sector law.

 

(2) The High Court may make an order in terms of subsection (1)—
(a) if it appears to the High Court that the person is engaging, or proposes to engage, in conduct contravening a financial sector law;
(b) if the person has previously engaged in such conduct;
(c) if there is a danger of substantial or irreparable damage, prejudice or harm if the person engages in conduct contravening a financial sector law; or
(d) even if another remedy is available.

 

(3) The High Court may not require the responsible authority to give any undertaking as to damages in connection with the application for an order in terms of this section.

 

(4) The responsible authority must publish each court order, other than interlocutory orders, that it obtains in terms of this section.