Public Service Commission Act, 1997
R 385
South African Reserve Bank Act, 1989 (Act No. 90 of 1989)13. Prohibited business |
The Bank may not—
| a) | purchase its own shares or grant loans or advances upon the security thereof; |
| b) | without the consent of the Minister, purchase the shares of any bank or grant loans or advances upon the security thereof; |
| c) | [Subparagraph (c) deleted by section 53 of Act No. 45 of 2013]; |
| d) | buy, discount or re-discount bills of exchange or promissory notes drawn or issued for commercial and industrial purposes, which have a maturity exceeding 120 days; |
| e) | buy, discount or re-discount bills of exchange or promissory notes drawn or issued for agricultural purposes, which have a maturity exceeding six months; |
| f) | hold in stocks of the Government of the Republic which have been acquired directly from the Treasury by subscription to new issues, the conversion of existing issues or otherwise, a sum exceeding its paid-up capital and reserve fund plus one-third of its liabilities to the public in the Republic. |
