• Mutual Banks Act, 1993 (Act No. 124 of 1993)
  • Notice No. 1291 of 1993
  • Act
  • Chapter I : Interpretation of Act
    • 1. Definitions
    • 1A. Relationship between Act and Financial Sector Regulation Act
  • Chapter II : Administration of Act
    • 2. [Repealed] Functions of Registrar
    • 3. Delegation of powers and assignment of duties by Registrar
    • 4. Powers of inspection of, guidance notes, directives and guidelines by, Authority
    • 5. Furnishing of information by mutual banks
    • 6. [Repealed] Power of Registrar to extend certain periods
    • 7. [Repealed] Appeal against decisions of Registrar
    • 8. [Repealed] Annual report by Registrar
  • Chapter III : Authorization to Establish, and Registration and Cancellation of Registration of, Mutual Banks
    • 9. Registration a prerequisite
    • 10. Authorization to establish mutual bank
    • 11. Granting or refusal of application for authorization
    • 12. Revocation of authorization
    • 13. Application for registration as mutual bank
    • 14. Granting or refusal of application for registration
    • 15. Conditions of registration
    • 16. [Repealed] Application for final registration as mutual bank
    • 17. Granting or refusal of application for final registration
    • 18. Untrue information in connection with applications
    • 19. Juristic personality of mutual bank
    • 20. Use of name of mutual bank
    • 21. Cancellation or suspension of registration by Registrar
    • 22. Notice by Registrar of intention to cancel or suspend registration
    • 23. Cancellation or suspension of registration by court
    • 24. Restriction by Registrar of activities of mutual bank
    • 25. Cancellation of registration at request of mutual bank
    • 26. Withdrawal of suspension or restriction
    • 27. Publication of information relating to mutual banks
    • 28. Date on which registration lapses
    • 29. Repayment of deposits upon lapse of registration
    • 30. Reregistration in terms of this Act
    • 30A. Reregistration after commencement of Mutual Banks Amendment Act, 1999
    • 31. Annual licence
  • Chapter IV : Administration of Mutual Banks
    • 32. Matters to be set forth in articles
    • 33. Alteration of articles
    • 34. Alteration of articles in accordance with direction of Registrar
    • 35. Change of name of mutual bank
    • 36. Binding force of articles
    • 37. Directors of mutual bank
    • 38. Disqualifications of directors
    • 39. Disclosure by directors of interest in contracts with mutual bank
    • 40. Head office of mutual bank
    • 41. Branch offices and agencies
    • 42. Accounting records
    • 43. Annual financial statements
    • 44. General meetings
    • 45. Appointment of auditor
    • 46. Functions of auditor in relation to Registrar
    • 47. Audit committee
  • Chapter V : Prudential requirements
    • 48. Minimum share capital and unimpaired reserve funds
    • 49. Minimum reserve balance
    • 50. Minimum liquid assets
    • 51. Large exposures
    • 52. Failure or inability to comply with prudential requirements
    • 53. Returns
  • Chapter VI : Provisions relating to Aspects of the Conduct of the Business of a Mutual Bank
    • 54. Acceptance of deposits and granting of loans, advances or other credit
    • 55. Restriction on investments in immovable property and shares
    • 56. Restriction on investments with, and loans and advances to, certain associates
    • 57. Shares
    • 58. Dividends
    • 59. Undesirable practices
    • 60. Shareholding in insurer
  • Chapter VII : Conversion of Mutual Banks
    • 61. Definitions
    • 62. Conversion of mutual banks into banks
    • 63. Application for Registrar's approval
    • 64. Consideration of application
    • 65. Special general meeting to authorize conversion
    • 66. Registration of controlling company in respect of bank established by conversion
    • 67. Registration of memorandum and articles of association by Registrar of Companies
    • 68. Notice in Gazette of conversion
    • 69. Effects of conversion
    • 70. Issue of shares to persons who were members of former mutual bank
  • Chapter VIII : Amalgamation, Winding-up and Dissolution
    • 71. Amalgamation and transfer of assets and liabilities
    • 72. Transfer of part of a mutual bank's business
    • 73. [Repealed] Judicial management
    • 74. [Repealed] Voluntary winding-up of mutual bank
    • 75. [Repealed] Winding-up by court
    • 76. [Repealed] Appointment of judicial manager and liquidator
    • 77. [Repealed] Dissolution of mutual bank
    • 78. Limitation of liability of members
    • 78A. Sections 71, 72 and 78 do not apply to mutual banks in resolution
    • 79. Liability of borrowers in winding-up
    • 80. [Repealed] Distribution of surplus in winding-up
    • 81. [Repealed] Appointment of curator to mutual bank
  • Chapter IX : General Provisions
    • 82. Appointment of inspector by Registrar on application of members
    • 83. Investigation by inspector appointed by mutual bank
    • 84. Information to be furnished to inspectors
    • 85. Application for shares or for leave to make deposits
    • 86. Certification of returns and other documents
    • 87. Inspection, copies and keeping of documents
    • 88. Minors and married women
    • 89. Limitation of liability
    • 90. Furnishing of information by Registrar
    • 91. Regulations
    • 92. Offences and penalties
    • 93. Review of Act
    • 94. Interpretation of certain references in existing laws
    • 95. Repeal of laws, and savings
    • 96. Short title and commencement
  • Schedules
    • Laws Repealed
• Regulations
  • Regulations relating to Mutual Banks
    • Notice No. R. 2508 of 1993
    • Chapter I : Basis of Regulation
      • 1. Objective of Regulations and completeness of information
      • 2. Management accounts as basis for the completion of risk-based returns
      • 3. Generally accepted accounting practice
      • 4. Annual financial statements
      • 5. Consolidated financial statements
      • 6. Audit report
      • 7. Certification and rendition of returns
      • 8. General
    • Chapter II : Risk-based Returns and Instructions, Directives and Interpretations relating to the completion thereof
      • 9. List of forms prescribed in respect of risk-based returns to be submitted to the Registrar, with indication of institution by which, intervals at which and period within which risk-based returns are to be submitted
        • Form DI099 - Declaration in respect of Statutory Returns Submitted
        • Form DI099A - Declaration in respect of Statutory Returns Submitted by Off-Shore Subsidiaries, Branches and Associates
      • 10. Calculation of averages
      • 11. Gross balances
      • 12. Maturity classification
      • 13. Reference to line item numbers
      • 14. Revaluation surplus ranking as secondary unimpaired reserve funds
      • 15. Set-off
      • 16. Valuation of items comprising the trading portfolio
      • 17. Accrued interest and amounts
      • 18. Cash-management schemes
      • 19. Balance sheet and off-balance-sheet activities
        • [Deleted] Form DI100 and Form DI110 - Directives and interpretations for completion
      • 20. Income statement
        • [Deleted] Form DI200 - Directives and interpretations for completion
      • 21. Liquidity risk
        • [Deleted] Form DI300 - Directives and interpretations for completion
      • 22. Minimum reserve balance and minimum liquid assets
        • [Deleted] Form DI310 - Directives and interpretations for completion
      • 23. Capital adequacy
        • [Deleted] Form DI400 - Directives and interpretations for completion
      • 24. Consolidated balance sheet
        • [Deleted] Form DI401 - Directives and interpretations for completion
      • 25. Counterparty risk
        • [Deleted] Form DI402 - Directives and interpretations for completion
      • 26. Foreign operations of South African mutual banks
        • [Deleted] Form DI403 - Directives and interpretations for completion
      • 27. Interest-rate risk
        • [Deleted] Form DI410 - Directives and interpretations for completion
      • 28. Market risk (Position risk)
        • [Deleted] Form DI420 - Directives and interpretations for completion
      • 29. Trading risk
        • [Deleted] Form DI430 - Directives and interpretations for completion
      • 30. Credit risk
        • [Deleted] Forms DI500, 505, 510 and 520 and Prescribed percentages relating to large exposures, directives and interpretations for completion
      • 31. Currency risk
        • [Deleted] Form DI600 - Directives and interpretations for completion
      • 31A. Information regarding investments and interests held
        • [Deleted] Forms DI700, DI701 and DI702
    • Chapter III : Application Procedures
      • 32. Application forms and certificates of registration
      • 33. List of forms prescribed in respect of notices, applications, certificates and declarations under these Regulations
      • 34. Appeal procedure
      • 35. Conditions subject to which negotiable certificates of deposit may be issued - section 54(2) of the Act
      • 36. Appliction for permission to acquire subsidiaries, branch offices, other interests and representative offices of mutual banks
      • 37. Guidelines relating to conduct of directors
      • 38. Composition of board of directors of a mutual bank
      • 39. Statement relating to attributes of serving or prospective directors or executive officers
        • Form DI 020 - Statement by Individuals who are holding, or are proposing to hold, the office of a Director or an Executive Officer of a mutual bank
    • Chapter IV : Prescribed Fees
      • 40. Fees payable
      • 41. Manner of payment of fees
      • 42. Annual licence
    • Chapter V : Information required for the Economics Department of the S A Reserve Bank
      • 43. Forms prescribed: returns to be submitted to the Authority and the Economic Statistics Department of the South African Reserve Bank with indication by which, intervals at which and period within which returns shall be submitted
        • [Deleted] Forms DI099, DI910, DI920 and DI930
      • 44. Institution and maturity breakdown of liabilities and assets
    • Chapter VI : Definitions and General Provisions
      • 45. Definitions
      • 46. Short title and commencement