South African Institute for Drug Free Sport Act, 1997
R 385
Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 12A : Resolution of Designated InstitutionsPart 5 : Banks in resolution - covered deposits166AB. Limit of cover for covered deposits |
| (1) | The maximum amount that may be applied from the Fund in respect of a depositor of a bank in resolution is the lesser of— |
| (a) | the sum of— |
| (i) | the total of the amounts standing to the credit of the accounts with the bank held by the depositor alone; and |
| (ii) | for each account with the bank held by the depositor together with one or more other persons, an amount calculated as the amount standing to the credit of the account divided by the number of account holders of the account; and |
| (b) | the amount prescribed by the Minister in Regulations made for the purposes of this section. |
| (2) | A reference in subsection (1) to the amount standing to the credit of an account is a reference to the amount standing to the credit of the account as at the date the bank was placed in resolution. |
[Section 166AB inserted by section 51 of the Financial Sector Laws Amendment Act, 2021 (Act No. 23 of 2021), Notice No. 789, GG45825, dated 28 January 2022 - effective 1 April 2024 per Notice No. 4468, GG50372, dated 25 March 2024]
