Financial Services Ombud Schemes Act, 2004 (Act No. 37 of 2004)16. Report of Ombud |
| (1) | A recognised scheme must— |
| (a) | within six months after the end of every financial year of the scheme, submit to the Council, in the form and with the content required by the Council, a report on the affairs and functions of the office of the ombud during the financial year in question; |
| (b) | at the request of the Council at any time furnish the Council within a reasonable time with such information or report regarding the operation of the scheme and other matters relating to the scheme as may be necessary to ensure compliance by the scheme with the provisions of this Act. |
| (2) | Notwithstanding subsection (1), a self-regulatory organisation contemplated in section 11(3) must submit to the Registrar of Securities Services an annual report on the affairs and functions of its scheme approved in terms of section 11(3). |
| (3) | The Council must at the request of the board or the Minister, and may of its own accord, submit reports and information received from an ombud to the board or Minister, as the case may be, with such comment or recommendation as the Council deems necessary. |