LML4807 Assignment 2 (COMPLETE ANSWERS) Semester 1 2025 - DUE 5 May 2025; 100% correct solutions and explanations.

LML4807 Assignment 2 (COMPLETE ANSWERS) Semester 1 2025 - DUE 5 May 2025; 100% correct solutions and explanations. Read the following statement and answer the question that follows. “Often an entity that is given the name of a bank and renders services that are associated with that of a bank does not always satisfy the legal requirements for conducting the business of a bank. Also, not every entity or person rendering similar services is required to comply with the registration requirements to render such services in terms of South African law. Under certain circumstances, a conduct that seems to satisfy the registration requirements may also be excluded from such requirements”. With reference to the requirements for conducting “the business of a bank” and the taking of “deposit” in terms of the Banks Act (94 of 1990), critically discuss the correctness of the above statement. Your discussion must be formulated under the following subheadings: (a) The legal issue that arises from the statement. (1) (b) The relevant legal principles. (5) (c) Critical analysis of the legal principles and how they apply to the statement. (3) (d) Your conclusion on the correctness of the statement. (1)