| (1) | The Reserve Bank may, in writing— |
| (b) | at any time amend a delegation in terms of paragraph (a). |
| (2) | Subject to subsection (4), a delegation in terms of this section may be made to— |
| (b) | a staff member of the Reserve Bank; |
| (d) | a financial sector regulator; or |
| (3) | This section does not permit the Reserve Bank to delegate— |
| (b) | the power to delegate contained in this section. |
| (4) | A delegation in terms of subsection (2)(c) must be limited to resolution functions. |
| (5) | A delegation in terms of this section— |
| (a) | is subject to the limitations and conditions specified in the delegation; |
| (b) | does not divest the Reserve Bank of responsibility in respect of the delegated power or duty; and |
| (c) | may be revoked in writing at any time. |
| (6) | Anything done by a delegate in terms of the delegation must be regarded as having been done by the Reserve Bank |
[Section 166I inserted by section 51 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)(ii) of Commencement Notice No. 3202, GG48294, dated 24 March 2023]
