, LML4807 Assignment 2 (COMPLETE ANSWERS)
Semester 1 2025 - DUE 5 May 2025; 100% TRUSTED
Complete, trusted solutions and explanations. For
assistance
3 ANSWERS PROVIDED
BANKS ACT 94 OF 1990: REGISTRATION REQUIREMENTS AND EXCLUSIONS
(a) The Legal Issue that Arises from the Statement
The legal issue arising from the statement concerns the requirements for
entities operating under the name of a bank and rendering services
commonly associated with banking, but not necessarily meeting the full
legal requirements for conducting the business of a bank under South
African law, specifically the Banks Act (94 of 1990). More specifically,
the issue revolves around whether such entities, despite their activities
resembling those of banks (such as accepting deposits), are required to
comply with the registration and regulatory requirements set forth in the
Banks Act. The statement also implies that certain conduct may appear
to satisfy these registration requirements but could be excluded from
such obligations under specific conditions.
This raises questions about the distinction between entities that are
required to be registered as banks and those that may not be, even
though they perform similar functions, such as accepting deposits or
providing financial services.
Semester 1 2025 - DUE 5 May 2025; 100% TRUSTED
Complete, trusted solutions and explanations. For
assistance
3 ANSWERS PROVIDED
BANKS ACT 94 OF 1990: REGISTRATION REQUIREMENTS AND EXCLUSIONS
(a) The Legal Issue that Arises from the Statement
The legal issue arising from the statement concerns the requirements for
entities operating under the name of a bank and rendering services
commonly associated with banking, but not necessarily meeting the full
legal requirements for conducting the business of a bank under South
African law, specifically the Banks Act (94 of 1990). More specifically,
the issue revolves around whether such entities, despite their activities
resembling those of banks (such as accepting deposits), are required to
comply with the registration and regulatory requirements set forth in the
Banks Act. The statement also implies that certain conduct may appear
to satisfy these registration requirements but could be excluded from
such obligations under specific conditions.
This raises questions about the distinction between entities that are
required to be registered as banks and those that may not be, even
though they perform similar functions, such as accepting deposits or
providing financial services.
