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Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)

Chapter 1 : Interpretation, Object and Administration of Act

Part 3 : Application of other legislation

9. Inconsistencies between Act and other laws

[Section 9 heading substituted by section 37 and 61(a) of the Financial Sector Laws Amendment Act, 2021 (Act No. 23 of 2021), Notice No. 789, GG45825, dated 28 January 2022- effective 1 June 2023 per (b)(i) of Commencement Notice No. 3202, GG48294, dated 24 March 2023]

 

(1) In the event of any inconsistency between a provision of this Act, other than a Regulation or a regulatory instrument made under this Act, and a provision of another Act that—
(a) is a financial sector law; or
(b) deals with the failure or insolvency of a company or the appointment of a statutory manager, curator or similar person to a designated institution,

the provision of this Act prevails.

 

(2) In the event of any inconsistency between a provision of a Regulation or a regulatory instrument made in terms of this Act and a provision of a Regulation or a regulatory instrument made—
(a) in terms of a specific financial sector law; or
(b) in terms of another law that deals with the failure or insolvency of a company or the appointment of a statutory manager, curator or similar person to a designated institution,

the provision of the Regulation or regulatory instrument made in terms of this Act prevails.

 

[Section 9 substituted by section 37 of the Financial Sector Laws Amendment Act, 2021 (Act No. 23 of 2021), Notice No. 789, GG45825, dated 28 January 2022- effective 1 June 2023 per (b)(i) of Commencement Notice No. 3202, GG48294, dated 24 March 2023]