, LML4807 Assignment 2 (COMPLETE ANSWERS)
Semester 1 2025 - DUE 5 May 2025; 100% trusted,
comprehensive and complete reliable solution with clear
explanation
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)
Semester 1 2025 - DUE 5 May 2025; 100% trusted,
comprehensive and complete reliable solution with clear
explanation
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)
