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Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002)

Chapter VI : Enforcement

Part 1 : Ombud for financial services providers

24. General administrative powers of Ombud

 

 

1) The Ombud may for the performance of functions in the Office and as a charge against or for the benefit of the funds of the Office, as the case may be –
a) hire, purchase or otherwise acquire property, and let, sell or otherwise dispose of property so purchased or acquired;
b) enter into an agreement with any person for the performance of any specific act or function or the rendering of specific services;
c) insure the Office against any loss, damage, risk or liability;
d) employ persons to assist the Ombud, determine their terms of appointment and, subject to such conditions as may be determined by the Ombud, delegate or assign to any such employee, including a deputy ombud, any administrative function vesting in the Ombud in terms of this Part;
e) obtain such professional advice as may reasonably be required; and
f) in general, do anything which is necessary or expedient for the achievement of the objective of the Ombud.