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

Chapter 14 : Ombuds

Part 1 : Ombud Council

177. Functions of Ombud Council

 

(1) In order to achieve its objective, the Ombud Council must—
(a) recognise, in accordance with this Chapter, industry ombud schemes;
(b) promote co-operation between, and co-ordination of, the activities of ombuds;
(c) strive to protect the independence and impartiality of ombuds;
(d) promote public awareness of ombuds and ombud schemes and the services they provide;
(e) take steps to facilitate access by financial customers to appropriate ombuds;
(f) publicise ombud schemes, including publicising the kinds of complaints that different ombud schemes deal with;
(g) resolve, in accordance with this Act, overlaps of the jurisdictional coverage of different ombud schemes;
(h) monitor the performance of ombud schemes, including the extent to which they comply with the requirements of this Chapter and specific financial sector laws; and
(i) support financial inclusion.

 

(2) The Ombud Council must also perform any other function conferred on it in terms of any other provision of this Act or other applicable legislation.

 

(3) The Ombud Council may do anything else reasonably necessary to achieve its objective.

 

(4) The Ombud Council must perform its functions without fear, favour or prejudice.

 

[Section 177 to take effect on 1 April 2020, per Notice No. 1130 of 2019, GG 42677, dated 30 August 2019]