8 (a) is not responsible for the financial institution’s failure to— (i) comply with any requirement referred to in subsection (1)(d)(i); or (ii) conduct its business in accordance with the practices and procedures referred to in subsection (1)(d)(ii); or (b) is qualified to hold the shares in terms of the Banking Act; as the case may be: Provided that such person shall bear the onus of proving that he or she is not so responsible or is so qualified. (3) If the shareholder to whom a notice has been issued in terms of subsection (1) is unable to dispose of his or her shares at a reasonable price within a reasonable time to any other person, he or she may offer them for purchase by the Reserve Bank, which may— (a) purchase the shares on behalf of the State; or (b) purchase the shares on behalf of the financial institution without the authority of a general meeting referred to in section 79 of the Companies Act. (4) Section 32 applies to any dispute about the value of shares required to be valued or sold pursuant to a notice issued in terms of subsection (1)(f) or (g). 6 Declaration of troubled financial institution (1) If the Reserve Bank, after considering the report of— (a) an inspector following upon an investigation under section 4; or (b) a supervisor following upon an investigation under section 47 of the Banking Act; is satisfied that the financial institution which is the subject of the report— (c) has failed to repay or is unlikely to be able to repay, in full and on due date, any moneys that have been advanced to it from the Troubled Bank Fund or other moneys it owes to the Reserve Bank; or (d) will need to receive public funds in order to prevent systemic risk, that is to say, a risk that a failure on the part of such financial institution to meet its obligations may result in other such financial institutions being unable to meet their respective obligations; or (e) has failed to comply or is unlikely to be able to comply with any requirement relating to capital, reserves, assets, liabilities, credits, deposits or other requirement prescribed for the purposes of section 29, 30 or 31 of the Banking Act; the Reserve Bank may, after affording the financial institution an adequate opportunity to make representations in the matter, declare the financial institution to be a troubled financial institution and place it under the administration of an administrator named in the declaration: Provided that, where the Reserve Bank considers that immediate action is necessary to prevent the disposal of any of the financial institution’s assets or any other actual or potential prejudice to the institution’s members, creditors, depositors or employees, the Reserve Bank may take such action before affording the institution an opportunity to make representations in terms of this subsection, in which event it shall as soon as possible thereafter afford the chairperson of the institution’s board and the institution’s chief executive officer a reasonable