Mandating Procedures of Provinces Act, 2008
R 385
Co-operative Banks Act, 2007 (Act No. 40 of 2007)Chapter II : Registration, Constitution, Functions, Management and Auditor of Co-operative BankPart 1 : Application to register, name, and fit and proper requirement6. Application for registration as co-operative bank |
| (1) | A co-operative must apply, on the application form prescribed by the Authority, to the Authority for registration as one of the types of co-operative banks referred to in section 5. |
| (2) | The following must be submitted together with the application form referred to in subsection (1): |
| (a) | Two certified copies of the constitution of the proposed co-operative bank; |
| (b) | a certified copy of the registration certificate as a co-operative under the Co-operatives Act of the proposed co-operative bank; |
| (c) | the full and abbreviated name of the proposed co-operative bank as well as any literal translation thereof; |
| (d) | a lending policy, if applicable; |
| (e) | a savings policy; |
| (f) | a business plan; |
| (g) | certified copies of the registers referred to in section 21(1)(e) and (f) of the Co-operatives Act; |
| (h) | the postal and physical address of the proposed co-operative bank and a statement describing the suitability of the premises from which the proposed co-operative bank will operate; and |
| (i) | the application fee prescribed by the Authority. |
| (3) | The application and every document submitted in terms of subsection (2) must be signed by the chairperson of the proposed co-operative bank. |
| (4) | The Authority may require a proposed co-operative bank to furnish him or her with- |
| a) | additional information or documents; or |
| b) | a report by an auditor or by any other knowledgeable person, approved by the Authority, on aspects relating to the application. |
