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Table of Contents
Co-operative Banks Act, 2007 (Act No. 40 of 2007)
Notice No. 737 of 2008
Act
Chapter I : Definitions, Purpose and Application of Act
1. Definitions
1A. Relationship between Act and Financial Sector Regulation Act
1B. Regulatory instruments
2. Purpose of Act
3. Application of Act
4. Application of Co-operatives Act
5. Types of co-operative banks
Chapter II : Registration, Constitution, Functions, Management and Auditor of Co-operative Bank
Part 1 : Application to register, name, and fit and proper requirement
6. Application for registration as co-operative bank
7. Requirements for registration
8. Registration of co-operative bank
9. Fit and proper person
10. Name of co-operative bank
11. Suspension of registration or de-registration
12. Repayment of deposits on de-registration or lapsing of registration
Part 2 : Constitution and functions of co-operative bank
13. Constitution of co-operative bank and amendment to constitution
14. Banking services provided by co-operative bank
15. General functions of co-operative bank
Part 3 : Management of co-operative bank
16. Duties of directors and officers of co-operative bank
17. Details of directors and officers of co-operative bank
Part 4 : Auditor of co-operative bank
18. Functions of auditor in relation to Authority
19. Submission of documents to Authority
Chapter III : Prudential Requirements and Large Exposures
20. Prudential requirements of co-operative bank
21. Inability to meet or maintain prudential requirements
22. Reporting on prudential requirements
23. Large exposures of co-operative bank
Chapter IV : Deposit Insurance Fund
24. [Repealed] Deposit insurance obligations of co-operative bank
25. [Repealed] Establishment of Co-operative Banks Deposit Insurance Fund
26. [Repealed] Control of Co-operative Banks Deposit Insurance Fund
Chapter V : Amalgamation, Division, Conversion, Transfer, Judicial Management and Winding-Up of Co-operative Banks
27. Prohibited transactions
28. Conversion of primary savings co-operative bank
29. Amalgamation or division of or transfer by co-operative bank
30. [Repealed] Winding-up or judicial management of co-operative bank
30A. Co-operative Banks as designated institutions in terms of Financial Sector Regulation Act, 2017
Chapter VI : Representative Bodies
31. Application for registration as representative body
32. Requirements for registration
33. Registration of representative body
34. Requirements for continued registration
35. Cancellation or suspension of registration
Chapter VII : Support Organisations
36. Application for accreditation as support organisation
37. Requirements for accreditation
38. Accreditation of support organisation
39. Requirements for continued accreditation
40. Cancellation or suspension of accreditation
Chapter VIIA : Co-Operative Financial Institutions
40A. Application for registration as co-operative financial institution
40B. Requirements for registration
40C. Registration of co-operative financial institution
40D. Suspension of registration or de-registration
40E. Repayment of deposits on de-registration or lapsing of registration
40F. Winding-up or judicial management of co-operative financial institution
Chapter VIII : Administration of Act
41. [Repealed] Supervisor of co-operative banks
42. [Repealed] Co-operation and co-ordination between supervisors
43. [Repealed] Deputy co-operative bank supervisors
44. Delegation and assignment
45. General powers and functions of supervisor
46. Power to make standards
47. Inspections
48. Directives
49. Administrative penalties
50. Information and reports
51. Records and register of co-operative banks
52. Reporting
53. Relationship with other regulatory authorities
Chapter IX : Co-Operative Banks Development Agency
Part 1 : Establishment, legal status, functions and powers of Agency
54. Establishment and legal status
55. General functions
56. General powers
57. Power to make rules
Part 2 : Governance of Agency
58. Appointment of board members of Agency
59. Term of office of members of Agency
60. Disqualification from membership and vacation of office
61. Chairperson and deputy chairperson
62. Meetings
63. Decisions
64. Duties of members
65. Managing director
66. Delegations
67. Establishment of committees
Part 3 : Funding and financial management of Agency
68. Funding
69. Annual budget and strategic plan
70. Financial management, financial statements and annual report
Part 4 : National government oversight and executive authority
71. Executive authority
72. Ministerial representatives
73. Investigations
74. Information
Chapter X : Appeals and Appeal Board
75. [Repealed] Appeal against decision of supervisor
76. [Repealed] Establishment and composition of appeal board
Chapter XI : Offences and Penalties
77. Unlawful use of word "co-operative bank", "co-operative financial institution" or unlawful conduct of business of co-operative bank or co-operative financial institution
78. Untrue information in connection with applications
79. Criminal liability of director, managing director, executive officer and other persons
80. General offences
81. Penalties
Chapter XII : General Provisions
82. Fair administrative action
83. Certification of documents
84. Access to records, register and other documentation
85. Indemnity
86. Regulations
87. Powers of Minister
88. Civil liability of director or managing director
89. Exemptions
90. Amendment of laws
91. Transitional provisions
92. Short title and commencement
Schedule
Laws Amended (Sec 90)
Regulations
Regulations in terms of Section 86
Notice No. R. 712 of 2009
Part 1 : Definitions and interpretation
Part 2 : Constitution of co-operative bank [Section 13]
Part 3 : Banking services provided by co-operative bank [Section 14]
Part 4 : Prudential requirements of co-operative bank [Section 20]
Part 5 : Large exposures of co-operative bank [Section 23]
Part 6 : Administrative penalties [Section 49]
Part 7 : Reporting [Section 52]
Part 8 : Register of co-operative banks [Section 51]
Part 9 : Code of conduct [Section 86(1)(a)]
Part 10 : Appeals [Section 75]
Part 11 : General
Annexure A : Notice of Appeal [Section 75(1)]
Rules
Rules for Representative Bodies and Support Organisations
Notice No. 72 of 2015
Power to make Rules
Chapter 1 : General Information
1. Definitions and interpretation
2. Communication and submission of information
3. Fees payable and cost relating to submission of additional information
4. Manner of payment
5. Guidance Notes
Chapter 2 : Representative Bodies
5. Registration of Representative Body
6. Certificate of registration as Representative Body
7. Requirements for continued registration
Chapter 3 : Support Organisations
8. Registration of support organisation
9. Certificate of registration as support organisation
10. Requirements for continued accreditation
Schedules
Schedule 1 : Fees payable
Schedule 2 : Forms
Part A : Representative Bodies
Form-RBF1
Form-RBF2
Part C : Support Organisations
Form-SOF1
Form-SOF2
Part C : Support Organisations
Purchase
Form-SOF1
Form-SOF2
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