Protection of Businesses Act, 1978
R 385
Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 2 : Financial StabilityPart 2 : Managing systemic events and risks in relation to systemic events16. Information to Minister |
| (1) | If the Governor has in terms of section 14(4) determined that a systemic event has occurred or is imminent, the Governor must ensure that the Minister is kept informed of the event and of any steps being taken or proposed to manage the event and the effects of the event. |
| (2) | The Reserve Bank may not, except with the Minister’s approval, take a step in terms of section 15 that will or is likely to— |
| (a) | bind the National Revenue Fund to any expenditure; |
| (b) | have a material impact on the cost of borrowing for the National Revenue Fund; or |
| (c) | create a future financial commitment or a contingent liability for the National Revenue Fund. |
