| (2) |
The registrar must as soon as possible after issuing a licence to a self-regulatory organisation cause the rules made by that organisation to be published in the Gazette at the expense of the organisation concerned. |
(3)
| (a) |
A self-regulatory organisation may, subject to this section, amend or suspend its rules. |
| (b) |
The registrar may, subject to this section, amend the rules or issue an interim rule. |
| (4) |
A proposed amendment, other than a suspension, of the rules must be submitted to the registrar for approval and must be accompanied by an explanation of the reasons for the proposed amendment. |
| (5) |
The registrar must as soon as possible after the receipt of a proposed amendment cause to be published in the Gazette, at the expense of the self-regulatory organisation, a notice of the proposed amendment calling upon all interested persons who have any objections to the proposed amendment to lodge their objections with the registrar within a period of 14 days from the date of publication of the notice. |
| (6) |
If there are no such objections or if the registrar has considered the objections after consultation with the self-regulatory organisation and has decided to approve the proposed amendment in the form published in the Gazette in terms of subsection (3), the amendment comes into operation on a date determined by the registrar by notice in the Gazette. |
| (7) |
If the registrar decides, after consultation with the self-regulatory organisation and as a result of the objections, to amend the proposed rules as published in the Gazette in terms of subsection (5), the proposed rules thus amended must be published by the registrar in the Gazette and come into operation on a date determined by the registrar by notice in the Gazette. |
| (a) |
if there is an urgent imperative under exceptional circumstances; |
| (c) |
after consultation with the self-regulatory organisation concerned; and |
by notice in the Gazette amend the rules of that self-regulatory organisation.
(9)
| (a) |
Subject to the prior approval of the registrar, a self-regulatory organization may suspend any of the rules of that organisation for a period not exceeding 30 days at a time after reasonable notice of the proposed suspension has been advertised in the Gazette. |
| (b) |
The registrar may, for the period of such suspension, issue an interim rule by notice in the Gazette to regulate the matter in question. |
| (c) |
Any contravention of or failure to comply with an interim rule has the same legal effect as a contravention of or failure to comply with a rule. |
(10)
| (a) |
The rules may prescribe that a self-regulatory organisation, or a person to whom the self-regulatory organisation has delegated its disciplinary functions, may impose any one or more of the following penalties for any contravention thereof or failure to comply therewith: |
| (iii) |
a fine not exceeding R5 million; |
| (v) |
a restriction on the manner in which an authorised user or participant may conduct business or may utilise an officer, employee or agent; |
| (vi) |
the payment of compensation to clients prejudiced by the contravention or failure. |
| (b) |
The rules may prescribe that— |
| (i) |
full particulars regarding the imposition of a penalty must be published in the Gazette, other national newspapers or through the news service of the self-regulating organisation, if any; |
| (ii) |
any person who has contravened or failed to comply with the rules may be ordered to pay the costs incurred in an investigation or hearing conducted in terms of the rules; |
| (iii) |
a self-regulatory organisation may take into account at a disciplinary hearing any information obtained by the registrar in the course of an inspection conducted under section 93; |
| (iv) |
a self-regulatory organisation, or a person to whom a self-regulatory organisation has delegated its disciplinary functions, may, upon good cause shown and subject to the conditions it may impose, vary or modify any penalty which it may previously have imposed upon any person, but that in varying or modifying such penalty the penalty may not be increased. |
| (11) |
If a person fails to pay a fine or compensation referred to in subsection (10)(a) the self-regulatory organisation may file with the clerk or registrar of any competent court a statement certified by it as correct, stating the amount of the fine imposed or compensation payable, and such statement thereupon has all the effects of a civil judgment lawfully given in that court against that person in favour of the self-regulatory organisation for a liquid debt in the amount specified in the statement. |
| (12) |
This section does not prejudice the common law rights of a person aggrieved by a contravention of or failure to comply with a rule to claim any amount except to the extent that any portion of such amount has been recovered under subsection (10). |
| (13) |
The rules must prescribe the purpose for which a fine referred to in subsection (10) must be appropriated. |
South African Council for Educators Act, 2000
