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Banks Act - Coggle Diagram

- - - - To introduce procedures for the authorisation of the establishment and subsequent registration of banks as well as for the revocation os such authorisation and the cancellation of such registration.
      - To provide for the establishment of a representative office in SA by a foreign institution that conducts business similar to that of a bank in the country in which it was established.
      - To ensure that the business of a bank is conducted only by persons who are deemed to be fit and proper.
- - - - 5.1.2. To prevent the exercising of control by any one person or by him and his associates, through a majority shareholding, over a registered controlling company.
      - 5.1.3. To provide for the registration and cancellation of the registration of a controlling company.
      - 5.1.1. To prevent the exercising of control, through a majority shareholding, over the affairs of a bank by any one person that is not another bank or a registered controlling company, or by such person and his associates.