Section 51: Information from banks and other financial institutions
consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
51. Information from banks and other financial institutions
(1) The Bank may require any financial institution to furnish, at such time
and in such manner and form as the Bank may approve, such information
and data as the Bank may require for the proper discharge of its functions
and responsibilities under the banking laws.
(1A) Where a financial institution is required to furnish information and
data under subsection (1), the financial institution shall comply with the
requirement in a timely manner.
(2) The Bank may publish, in whole or in part, and at such time as it may
determine, the information or data furnished under subsection (1).
(3) – (4) —
(5) The Bank may examine the accounts, books, records and other documents, whether they are in written form or are kept on microfilm, magnetic
tape, or any other form of mechanical or electronic data retrieval mechanism,
of any financial institution, in order to verify its compliance with any
requirement under the banking laws.
[S. 51 amended by s. 3 (b) of Act 17 of 2007 w.e.f. 22 August 2007; s. 3 (b) of Act 18 of
2008 w.e.f. 19 July 2008.]