Indigenisation and Economic Empowerment Act updated May 2011 (b) in respect of any financial institution, that is, any body or association licensed or registered under any law relating to asset managers, banks, building societies, unit trust schemes, insurers or pension funds, the licensing or registering authority appointed under that law; (c) in respect of the trades and businesses required to be licensed in terms of the Shop Licences Act [Chapter 14:17], the licensing authority as defined in that Act; (d) in respect of the persons who own, conduct or operate designated tourist facilities as defined in the Tourism Act [Chapter 14:20] or who provide or assist in providing any services which are such designated tourist facilities, the licensing authority as defined in that Act; (e) any other statutory person, body or authority charged with licensing any business or activity; “non-compliant business” means a business referred to in section 3(1)(b), (c), (d) or (e) in respect of which it is alleged that any transaction was concluded without either or both of the parties to the transaction timeously notifying the Minister in accordance with section 4(1)(a). (2) Subject to this section and section 20, the Minister may, issue a written order to the licensing authority of any non-compliant business ordering that the licensing authority concerned decline to renew the licence, registration or other authority to operate of the business concerned, or, where the licence, registration or other authority concerned is granted for an indefinite term, ordering that the licence, registration or other authority concerned be terminated no later than six months from the date when the Minister issued the order to the licensing authority concerned. (3) Before taking any action in terms of subsection (2), the Minister shall notify the noncompliant business in writing of his or her intention to issue an order in terms of subsection (2), and the reasons for doing so, and shall in such notice— (a) call upon the non-compliant business to show just cause, within such reasonable period as may be specified in the notice, why such order should not be issued; and (b) if no just cause exists or can be shown as provided in paragraph (a)— (i) require the non-compliant business to do, or not to do, such things as are specified in the notice for the purpose of rectifying or avoiding any contravention of section 4(1)(a); and (ii) stipulate the period within which any requirement referred to in subparagraph (i) shall be commenced and completed. (4) If, at the expiry of any period specified in the notice given in terms of subsection (3), and after considering any representations made by the non-compliant business, the Minister is satisfied that he or she must issue an order in terms of subsection (2), the Minister shall notify the non-compliant business in writing accordingly and publish the notice in such manner as the Minister considers appropriate to draw the attention of other persons affected or likely to be affected by it. (5) If, within thirty days after the Minister has written to the parties in terms of section 3(3) (or such longer period as the Minister may, for good cause, allow), the parties have not complied with any thing the Minister has required them to do under that provision, the Minister may, without further notice to the parties concerned, issue a written order to the licensing -8-