Application for registration guideline for Co …

Application for registration guideline for Co-operative Financial Institution Guidance Note on Application for registration as a Co-operative Financial Institution 2 1. Introduction. guidelines are hereby provided for the completion of the Application to register as a CFI on form CBDA001 and should be read in conjunction with: The Co-operative Act No 14 of 2005 (The Act) The Co-operative Banks Act 40 of 2007, (Co-op Banks Act) Supervisory and regulatory rules (Rules) for CFIs applying for registration to the CBDA, and Government Notice as gazette from time to time, the latest being 35368, No 404 of May 2012 (Exemption Notice). 2. Legislations. A Co-operative Financial Institution (CFI) shall at all-time subject itself to the supervision and regulations of the CBDA as per The Exemption Notice Section 3(a), and the Rules for an Application to register a CFI will be considered once it: a) Meets all requirements for registration in term of the Co-operatives Act; b) Meets all requirements of the Exemption Notice; c) Meets the requirements of the CBDA Rules, prudential and operational standards published by the CBDA; and d) Meets all the requirements for membership of the representative body and provide a valid representative body membership certificate (if applicable).

Guidance Note on Application for registration as a Co-operative Financial Institution 6 b) A customer is any natural or legal person requiring interaction with the CIPC.

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