Banking Amendment Act 2015 entered into force
13 May 2016
The Banking Amendment Act (in force as of 13 May 2016), provides, inter alia, that without the permission of the Registrar, no domestic or foreign natural or legal persons, other than a financial institution, a registered controlling company, or a corporate body approved in terms of section 15F(l) of the Act, may hold shares in a banking institution or a controlling company if they exceed 25 per cent of the total nominal value or the total voting rights of all the issued shares of the banking institution or controlling company.
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Type:
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Entry and establishment (Ownership and control)
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Industry:
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Services (Financial and insurance activities)
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Sources:
