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SOUTH AFRICA: Cooperative Banks Act 2007 Enacted

An Act regulating the activities of cooperative banks in South Africa (March 2008)

The Cooperative Banks Act establishes a regulatory and supervisory framework for cooperative banks in South Africa. Among the topics covered by the Act are:

  • Registration
  • Management
  • Prudential Requirements
  • Deposit Insurance
  • Amalgamation, Division, and Dissolution
  • Representative Bodies and Support Organizations
The Act was signed by the President in early 2008 and will go into effect on a date designated by the Minister through publication in the Gazette. 

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