"Agency"

means the Development Agency for Co-operative Banks established under section 54;

"appeal board"

[Definition deleted by section 290, item 1(a) of Schedule 4, Act No. 9 of 2017 - effective 28 September 2018 (paragraph (c)(vi) of Notice No. 1019, GG 41947, dated 28 September 2018)]

"Authority"

means the Prudential Authority established in terms of section 32 of the Financial Sector Regulation Act;

[Definition inserted by section 290, item 1(b) in Schedule 4, of Act No. 9 of 2017 - effective 1 April 2018 (paragraph (h) of Notice 169 of 2018)]

"banking institution"

means a bank registered under the Banks Act, a mutual bank registered under the Mutual Banks Act, 1993 (Act No. 124 of 1993), a co-operative bank registered under this Act and any other similar institution registered under subsequent banking legislation;

"banking services"

means the services that may be provided by a co-operative bank in accordance with section 14;

"Banks Act"

means the Banks Act, 1990 (Act No. 94 of 1990);

"business plan"

means, in respect of a specified time period, a document of a co-operative bank that sets out-

"conduct standard"

has the same meaning ascribed to it in terms of section 1(1) of the Financial Sector Regulation Act;

[Definition inserted by section 290, item 1(c) in Schedule 4, of Act No. 9 of 2017 - effective 1 April 2018 (paragraph (h) of Notice 169 of 2018)]

"co-operative"

means a co-operative as defined in the Co-operatives Act;

"co-operative bank"

means a co-operative or a co-operative financial institution registered as a co-operative bank in terms of this Act whose members—

[Definition substituted by section 290, item 1(d) in Schedule 4, of Act No. 9 of 2017 - effective 1 April 2018 (paragraph (h) of Notice 169 of 2018)]

"co-operative financial institution"

means a co-operative that takes deposits and chooses to identify itself by use of the name Financial Co-operative, Financial Services Co-operative, Credit Union or Savings and Credit Co-operative;

[Definition substituted by section 290, item 1(e) in Schedule 4, of Act No. 9 of 2017 - effective 1 April 2018 (paragraph (h) of Notice 169 of 2018)]

"Co-operatives Act"

means the Co-operatives Act, 2005 (Act No. 14 of 2005);

"deposit"

has the meaning assigned to it in section 1(1) of the Banks Act;

"executive officer"

means any employee of a co-operative bank that reports directly to the managing director;

"Financial Sector Regulation Act"

means the Financial Sector Regulation Act, 2017;

[Definition inserted by section 290, item 1(f) in Schedule 4, of Act No. 9 of 2017 - effective 1 April 2018 (paragraph (h) of Notice 169 of 2018)]

"financial statements"

means the annual financial statements referred to in sections 47 and 48 of the Co-operatives Act;

"fit and proper person"

means a person contemplated in section 9;

"Fund"

means the Deposit Insurance Fund established in terms of section 166BD of the Financial Sector Regulation Act;

[Definition substituted by section 22 of the Financial Sector Laws Amendment Act, 2021 (Act No. 23 of 2021), Notice No. 789, GG45825, dated 28 January 2022- effective 1 June 2023 per (b)(i) of Commencement Notice No. 3202, GG48294, dated 24 March 2023]

"joint standard"

has the same meaning ascribed to it in terms of section 1(1) of the Financial Sector Regulation Act.

[Definition inserted by section 290, item 1(g) in Schedule 4, of Act No. 9 of 2017 - effective 1 April 2018 (paragraph (h) of Notice 169 of 2018)]

"managing director"

means a person under the direct authority of the board of directors of the co-operative bank responsible for the day-to-day operations of the co-operative bank;

"Minister"

means the Minister of Finance;

"National Treasury"

means the National Treasury established by section 5 of the Public Finance Management Act, 1999 (Act No. 1 of 1999);

"person"

includes any partnership or group of natural persons;

"prescribe"

[Definition deleted by section 290, item 1(h) in Schedule 4, of Act No. 9 of 2017 - effective 1 April 2018 (paragraph (h) of Notice 169 of 2018)]

"primary savings co-operative bank"

means a co-operative registered as a primary co-operative under the Co-operatives Act and as a primary savings co-operative bank under this Act that may provide the banking services and perform the functions referred to in sections 14 and 15;

"primary savings and loans co-operative bank"

means a co-operative registered as a primary co-operative under the Co-operatives Act and as a primary savings and loans co-operative bank under this Act that may provide the banking services and perform the functions referred to in sections 14 and 15 of this Act;

"proposed co-operative bank"

means a deposit-taking financial services co-operative that applies for registration as a co-operative bank under section 6;

"prudential standard"

has the same meaning ascribed to it in terms of section 1(1) of the Financial Sector Regulation Act.

[Definition inserted by section 290, item 1(i) in Schedule 4, of Act No. 9 of 2017 - effective 1 April 2018 (paragraph (h) of Notice 169 of 2018)]

"Public Finance Management Act"

means the Public Finance Management Act, 1999 (Act No. 1 of 1999);

"Register"

means the Financial Sector Information Register referred to in section 256 of the Financial Sector Regulation Act.

[Definition inserted by section 290, item 1(j) in Schedule 4, of Act No. 9 of 2017 - effective 1 April 2018 (paragraph (h) of Notice 169 of 2018)]

"registrar"

means the Registrar of Co-operatives defined in section 1 of the Co-operatives Act;

"regulatory authority"

means an entity established in terms of national legislation responsible for regulating activities or an industry, or sector of an industry;

"representative body"

means a secondary co-operative, irrespective of whether it is also a secondary co-operative bank, or other association of co-operative financial institutions and co-operative banks registered under section 33 that represents at least two co-operative financial institutions in interactions with organs of state, the private sector and stakeholders;

[Definition amended by section 240(c) of Act No. 45 of 2013]

"Reserve Bank"

means the South African Reserve Bank referred to in the South African Reserve Bank Act, 1989 (Act No. 90 of 1989);

"rule"

in relation to—

[Paragraph (b) amended by section 240(d) of Act No. 45 of 2013]

"secondary co-operative bank"

means a co-operative registered as a secondary co-operative under the Co-operatives Act and as a secondary co-operative bank under this Act that may provide the banking services and perform the functions referred to in sections 14 and 15 of this Act;

"supervisor"

[Definition deleted by section 290, item 1(k) in Schedule 4, of Act No. 9 of 2017 - effective 1 April 2018 (paragraph (h) of Notice 169 of 2018)]

"support organisation"

means a support organisation accredited under section 38 that supports more than one co-operative financial institution or co-operative bank as contemplated in section 37;

[Definition amended by section 240(e) of Act No. 45 of 2013]

"tertiary co-operative bank"

means a co-operative registered as a secondary or tertiary co-operative under the Co-operatives Act and as a tertiary co-operative bank under this Act that may provide the banking services and perform the functions referred to in sections 14 and 15 of this Act;

"this Act"

includes any regulation or rule made under this Act;

"Tribunal"

means the Financial Sector Tribunal established in terms of section 219 of the Financial Sector Regulation Act.

[Definition inserted by section 290, item 1(l) in Schedule 4, of Act No. 9 of 2017 - effective 1 April 2018 (paragraph (h) of Notice 169 of 2018)]

[Section 1(2) inserted by section 290, item 1(m) in Schedule 4, of Act No. 9 of 2017 - effective 1 April 2018 (paragraph (h) of Notice 169 of 2018)]