| (b) |
a condition of recognition has been contravened or not been complied with in a material way; |
| (c) |
the industry ombud scheme, an ombud for the industry ombud scheme, or a significant number of the financial institutions that are members of the industry ombud scheme, have contravened in a material way the governing rules of the industry ombud scheme, a provision of a financial sector law relating to ombuds or Ombud Council rules; |
| (d) |
information provided in, or in relation to, an application to the Ombud Council in relation to the industry ombud scheme was false or misleading, including by omission, in a material way; |
| (e) |
the industry ombud scheme is not complying with a requirement of this Act; |
| (f) |
the suspension is necessary to prevent— |
| (i) |
a serious contravention of a financial sector law; or |
| (ii) |
financial customers of the members of the industry ombud scheme from suffering material prejudice; or |
| (g) |
a fee, a levy or an administrative penalty payable by the industry ombud scheme, including any interest, is unpaid and has been unpaid for at least 30 days after it is due. |
| (2) |
The Ombud Council may at any time revoke the suspension. |
| (3) |
A suspension takes effect on the date of the notice in terms of subsection (1), or a later date specified in the notice. |
| (4) |
A suspension does not affect an obligation of the industry ombud scheme that it has in terms of a financial sector law, including an obligation to report a matter to the Ombud Council. |
[Section 198 to take effect on 1 April 2020, per Notice No. 1130 of 2019, GG 42677, dated 30 August 2019]
Housing Development Agency Act, 2008
