NOTICE TO NON - BANK FINANCIAL INSTITUTIONS

1.      This notice is hereby addressed to all Non-Bank Financial Institutions that are regulated and supervised by the Non-Bank Financial Institutions Regulatory Authority (“NBFIRA”), and have outstanding Supervisory levies.

2.      NBFIRA notifies all non-bank financial institutions who have outstanding licensing and/or supervisory levies in line with the NBFIRA Supervisory Levies & Licensing Fees Regulations, that they are hereby granted seven (7) working days from date of this notice to have settled their outstanding debts.

3.      NBFIRA further notifies the affected non-bank financial institutions that the outstanding levies are subject to interest and penalty levies for failure to pay timeously, and as such, it is in the interest of the non-bank financial institutions to enquire on the total outstanding debts to ensure accurate payment.

4.      Failure to settle the outstanding debts as directed above will result in NBFIRA taking appropriate action against such NBFIs, which action can include, but is not limited to, suspension or cancellation of the NBFI’s license and/or recovery of the outstanding levies and fees by action in court in terms of Section 25 of the NBFIRA Act.