Corpclo 2290 CC t/a U-Care v Registrar of Banks (755/2011)
Corpclo 2290 CC t/a U-Care v Registrar of Banks (755/2011) [2012] ZASCA 156; [2013] 1 All SA 127 (SCA) (2 November 2012)
The Supreme Court of Appeal held that the appellants' business practice, as described in the evidence, fell within the extended definition of 'the business of a bank' under Notice 498 issued pursuant to the Banks Act. The court found that the appellants accepted money from the public with the prospect of payments or benefits, which constituted the business of a bank as defined. The constitutional arguments raised by the appellants on appeal were not pleaded or canvassed in the affidavits before the court a quo, and thus could not be considered. The court reaffirmed that constitutional issues…
Source excerpt
- Banks Act
- Definition Of Business Of A Bank
- Interdict
- Constitutional Challenge
- Motion Proceedings
- Administrative Action