"industry ombud scheme"

means an arrangement with the following characteristics:

(a)	The arrangement is established by one or more financial institutions;

(b)	the purpose of the arrangement is to facilitate mediation and resolution of complaints from financial customers about financial institutions that are members of the ombud scheme; and

(c)	mediation or resolution of the complaints in terms of the ombud scheme is undertaken by an ombud appointed in terms of the ombud scheme’s governing rules;