Chapter 7: Remedies and Enforcement
Part D: Complaints to Commission or Panel

s170: Outcome of investigation

  • (1) After receiving the report of an inspector or independent investigator, the Commission or Panel, as the case may be, may:
    • (a) excuse any person as a respondent in the complaint, if the Commission or Panel considers it reasonable to do so, having regard to the person's conduct, and the degree to which the person has cooperated with the Commission or Panel in the investigation;
      • (b) refer the complaint to the Companies Tribunal, or to the Commission or the Panel as the case may be, if the matter falls within their respective jurisdictions in terms of this Act;
        • (c) issue a notice of non-referral to the complainant, with a statement advising the complainant of any rights they may have under this Act to seek a remedy in court;
          • (d) in the case of the Commission, propose that the complainant and any affected person meet with the Commission or with the Companies Tribunal, with a view to resolving the matter by consent order;
            • (e) commence proceedings in a court in the name of the complainant, if the complainant:
              • (i) has a right in terms of this Act to apply to a court in respect of that matter; and
                • (ii) has consented to the Commission or Panel, as the case may be, doing so;
                • (f) refer the matter to the National Prosecuting Authority, or other regulatory authority concerned, if the Commission or Panel, as the case may be, alleges that a person has committed an offence in terms of this Act or any other legislation; or
                  • (g) in the case of:
                    • (i) the Commission, issue a compliance notice in terms of section 171; or
                      • (ii) the Panel, refer the matter to the Executive Director, who may, among other things, issue a compliance notice in terms of section 171.
                    • (2) The Commission or Panel, as the case may be:
                      • (a) in its sole discretion, may publish a report contemplated in subsection (1); and
                        • (b) irrespective whether it publishes such a report, must deliver a copy of the report to:
                          • (i) the complainant, or a regulatory authority that requested the initiation of the complaint;
                            • (ii) any person who was a subject of the investigation;
                              • (iii) any court, if requested or ordered to do so by the court; and
                                • (iv) any holder of securities, or creditor, of a company that was the subject of the report, or any other person implicated in the report, upon payment of the prescribed fee.

                              Related Sections

                              s171: Issuance of compliance notice

                              Related Regulations

                              R138: Resolving complaints by proposed consent order
                              R139: Compliance notices and certificates
                              R140: Procedures following investigation
                              R141: Complaint referrals to the Tribunal

                              Related Notes

                              No related note.

                              Related Forms

                              CoR138: Consent to Order
                              CoR139.1: Compliance Notice
                              CoR139.2: Compliance Certificate
                              CoR140.1: Referral by Commission or Panel to another regulator
                              CoR140.2: Commission Notice of Non referral
                              CTR140: Commission referral to Tribunal