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Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)

Part XII : General

111. Application of Companies Act in relation to manager

 

(1) Except where this Act expressly provides otherwise, the application of the Companies Act to a manager is not affected by this Act.

[Subsection 1 amended by section 235(a) of Act No. 45 of 2013]

 

(2)
(a) Despite section 5 of the Companies Act, section 48 of the said Act does not apply to an open-ended investment company.
(b) Despite section 5 of the Companies Act, Chapter 4 of the said Act does not apply to any offer of participatory interests to members of the public or to investors by an open-ended investment company or a foreign collective investment scheme approved in terms of section 65.

[Subsection 2 amended by section 235(a) of Act No. 45 of 2013]

 

(3) In the application of section 82 of the Companies Act to a manager, the Master must also file promptly with the registrar a copy of the documentation referred to in subsection (1)(b) of that section.

[Subsection 3 amended by section 235(a) of Act No. 45 of 2013]

 

(4) [Subsection 4 deleted by section 235(b) of Act No. 45 of 2013].

 

(5) The registrar may, in respect of any manager being wound up or being subject to business rescue proceedings, in writing direct the liquidator or the business rescue practitioner, as the case may be, to furnish him or her with a copy of any particular account, return statements or other document which the liquidator or the business rescue practitioner is required under any provision of the Companies Act to furnish to the Companies and Intellectual Property Commission or the Master, or to furnish him or her from time to time with copies of all or any of such accounts, returns, statements or documents as and when they are furnished to the said Commission or to the Master.

[Subsection 5 amended by section 235(c) of Act No. 45 of 2013]

 

(6) Immediately after the confirmation of the final account in the winding-up of a manager, the Master of the High Court concerned must give the registrar notice thereof.