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What is a central bank?
A central bank has unique powers that differentiate it from other commercial banks. Some of these powers, which influence the public in an immediate and direct way, include the setting of interest rates, the issuance of currency and the management of the national payment system. No other bank in the country has such powers, which shows the special place of the central bank in the economy.
The South African Reserve Bank’s role has become entrenched in the domestic economy since its establishment in 1921. The central bank works closely with the government, but takes its decisions independently from the government. This independence ensures that decisions are taken in the best interest of the country as a whole and its entire people, rather than in support of the government. The South African Reserve Bank is also the banker of the central government, which contributes to the special relationship between the central bank and the government.
Welcome to our legal terms. We understand that legal terms can be daunting, but they are necessary to protect both you and us – so we’ve kept ours as clear and concise as possible. Please read this web page carefully, because it affects your rights and responsibilities.
We are Civics Academy – the owner of this website available through www.civicsacademy.co.za (and other domains or standalone applications), and these are our legal terms, including our:
- Terms of service – which you agree to by using any of our services; and
We may change any of these terms at any time by updating this web page.
If you have any questions about our legal terms, please contact us.
1. Licence. We grant you a limited licence to use this website.
2. Breach. We may cancel your licence if you breach any of these terms.
3. Framing. You may not frame this website.
4. Capacity. You agree to these terms on the basis that you have the capacity to visit this website.
5. Accurate information. You promise that you will give this website only accurate information.
6. Ownership. We or our third party licensors own all rights in this website.
7. Trade marks. All our trade marks are our property and you may not use them without our permission. All other trade marks are their respective owners’ property.
8. Restrictions. You may not change, hire out, reverse engineer, or copy this website without our permission.
9. Own risk. You use this website at your own risk and we make no warranties about it.
10. Indemnity. You indemnify us against any liability related to your use of this website.
11. Direct damages limited. Our maximum liability to you for all claims for direct damages related to this website is R100.
12. Indirect damages. We will never be responsible for any indirect damages.
3. Terms of service
1. Introduction. These terms cover any transactions where we provide services to you, like when we provide you with access to content through our website.
2. The parties. We are the service provider under these terms. You are the user under these terms.
3. Duration. These terms commence whenever you place a service request and continue until terminated.
4. Service requests. You place service requests with us whenever you use our website.
5. Your data. You own all your data. When you enter any data into the system, you give us a licence to use it to provide the services. We are not responsible for any of your data stored on our system.
6. Intellectual property. We may own intellectual property rights in our services including our videos and podcasts that we make available to you through our website and you may not use those rights without our permission. We may prosecute you for any violations of our proprietary rights.
7. Sharing. We encourage you to share our services including our videos and podcasts that we make available to you through our website and will not prosecute you for doing so, provided that you do not infringe our intellectual property rights associated with a particular service. For example, you may share videos or podcasts under Creative Commons licenses subject to certain restrictions. For more information, please visit: https://creativecommons.org/licenses/.
8. Feedback. We invite and value your feedback about our services including our videos and podcasts that we make available to you through our website, but we are not obliged to act on your feedback in any way unless we have a written agreement with you to do so.
9. Disclaimer. We disclaim all warranties to the extent allowed by applicable law. We are not liable for any defect that you cause.
10. Direct damages limited. We are only liable to you for any direct damages that the services may cause up to the total amount of fees that you have paid us for them, which may mean we are not liable for any amount at all where the services are free.
11. Indirect damages excluded. We are not liable for any other losses that the services may cause you.
12. Breach. Please don’t breach your obligations under this agreement. If you do, we have certain rights against you in terms of the law.
13. Termination. We may need to terminate this agreement immediately under certain unlikely circumstances, including if we discontinue the services, believe providing the services could burden or pose a risk to us, have to terminate to comply with a law, or providing the services has become impractical. If we need to terminate, we will give you as much notice as possible in writing.
14. Resolving disputes. We want to avoid disputes about this agreement and resolve them as quickly as possible. But if there is one, either party may inform the other of it in writing. The parties must first try to negotiate to end the dispute, then enter into mediation if negotiation fails, and finally go to arbitration if mediation fails.
15. Notices and domicile. We want to communicate with you effectively about this agreement. For this reason, the parties will send all notices to each others’ email addresses and choose their respective street addresses as their service addresses for all legal documents. The parties may change either address on 14 calendar days written notice to the other.
16. Force majeure. Things may happen that prevent you or us from complying with each of our obligations under this agreement. Neither party is responsible for breach of this agreement caused by circumstances beyond its control, but the other party may cancel the agreement on written notice to the other if the circumstances persist for more than 60 calendar days.
17. Entire agreement. The agreement is the entire agreement between the parties on the subject.
18. Changes. If we change this agreement by updating this web page, any changes will only apply to future service requests.
19. Governing law. The law of South Africa governs this agreement.
1. Purpose. This policy describes the way we handle your personal information.
2. Personal information. Personal information includes information we collect on submission when you place a service request and automatically when you visit this website.
3. Acceptance. You may not request any of our services if you do not accept this policy.
4. Collected on service request. We collect certain personal information when you place a service request.
5. Collected automatically. We collect your Internet usage information when you visit this website.
6. Purpose for collection. We may use any of your personal information that you provide to us for the purposes that you indicated when you agreed to provide it to us.
7. Consent to collection. We will get your consent to collect your personal information in accordance with applicable law when you provide us with it.
8. Use. We may use your personal information to fulfil our obligations to you.
9. Sharing. We may share your personal information with third parties for the purposes of fulfilling our obligations to you.
10. Disclosure. We may disclose personal information to third parties if required for legal reasons.
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13. Transfer. We may transfer your personal information outside South Africa to a foreign country.
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