| (a) |
allot or issue any of its shares to, or register any of its shares in the name of, any person other than the intended beneficial shareholder; |
| (b) |
transfer any of its shares in the name of a person other than the beneficial shareholder; or |
| (c) |
after the commencement of this Act allow any of its shares to remain registered in the name of a person other than the beneficial shareholder. |
| (2) |
Subsection (1) shall not affect the allotment or issue, or the registration of the transfer, of shares in a bank or controlling company— |
| (a) |
in the name of a trustee or custodian of a collective investment scheme as defined in section 1 of the Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002), or of a nominated company of the manager or trustee approved by the Registrar of Collective Investment Schemes; |
[Section 38(2)(a) substituted by section 18(a) of Act No. 22 of 2013]
| (b) |
in the name of any executor, administrator, trustee, curator, guardian or liquidator in respect of the estate of a deceased member of the bank or controlling company or of a member whose estate has been sequestrated or of a member who is otherwise under disability or as the liquidator of any body corporate in the course of being wound up which is a member of the bank or controlling company; |
[Section 38(2)(b) substituted by section 18(a) of Act No. 22 of 2013]
| (c) |
for a period of not more than six months, in the name of a regulated person as defined in section 1 of the Securities Services Act, 2004 (Act No. 36 of 2004), or of a company controlled by the bank or of an employee of the bank, if it is necessary that the shares be so allotted, issued or registered in order to facilitate delivery to the purchaser or to protect the rights of the beneficiary in respect of those shares or where the beneficiary is not known; |
[Section 38(2)(c) substituted by section 18(a) of Act No. 22 of 2013]
| (d) |
in the name of a person in other special circumstances determined by the Minister by notice in the Gazette; or |
[Section 38(2)(d) substituted by section 17(b) of Act No. 85 of 1992]
| (e) |
in the name of a central securities depository as defined in section 1 of the Safe Deposit of Securities Act, 1992. |
Medicines and Related Substances Act, 1965
