Older Persons Act, 2006
R 385
Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)Board NoticesRules for the administration of a collective investment scheme in participation bonds24. Appointment of new manager |
The manager may, on not less than six months written notice to the registrar and all participants in the scheme, appoint a new manager, subject to:—
| (a) | the consent of the registrar and the participants holding a majority in value of the participatory interests in all participation bonds included in the scheme. If the participants holding a majority in value of the participatory interests in all participation bonds do not indicate their consent in writing on or before the date determined, then the registrar's consent to the appointment of a new manager will suffice; and |
| (b) | the new manager entering into an agreement with the nominee company in terms of paragraph (c) of the definition of "nominee company" in section 52 of the Act. |
