On 17 June 2020 President Ramaphosa announced that while South
Africa remains on level 3 further economic activity will be
permitted. This is being referred to as “advanced”
level 3.
On the same day the joint directive in relation to precautionary
measures to be taken by essential financial services, originally
published on 9 April 2020 during level 5 by the Financial Sector
Authority and Prudential Authority, was formally withdrawn and
replaced with Joint Communication 7 of 2020 (Precautionary measures
by financial institutions and payments institutions to limit the
spread of the coronavirus disease (COVID-19) pandemic) issued by
the Financial Sector Conduct Authority, the Prudential Authority
and the National Payment System Department of the South African
Reserve Bank (“Authorities”)
(“Joint Communication”). The Joint
Communication did not withdraw Directive 2 of 2020 issued by the
National Payment System Department and this remains applicable to
payment
