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

Board Notices

Rules for the administration of a collective investment scheme in participation bonds

28. Notices

 

(1) Any notice, statement of account or other document required to be served on a participant shall be deemed to have been duly served if sent by post to or delivered at his or her address as stated on the application form, or at such other address as notified in writing by the participant to the manager from time to time, and be deemed to have been served four days after the same was posted or delivered. In proving such service it shall be sufficient to prove that the envelope or wrapper containing the notice was posted.

 

(2) Any notice sent to a participant by means of a facsimile shall be deemed to have been served on the date of facsimile transmission.

 

(3) Any notice may be sent electronically if so requested by a participant, and shall be deemed to have been served on the same day it was sent.

 

(4) Any notice or document sent by post to or delivered at the participant's address referred to in sub-rule (1), sent per facsimile in terms of sub-rule (2) or sent electronically in terms of sub-rule (3) shall, notwithstanding that such participant is deceased, insolvent, or under any other legal disability, and whether or not the manager has notice of his or her death, insolvency or other disability, be deemed to have been duly served, and such service shall be deemed a sufficient service on all persons who have an interest in the participatory interests of the participant concerned.

 

(5) The unintended omission to give notice to a participant, or the non-receipt of any notice by any participant, does not give rise to any claim by such participant against the scheme or the manager, and does not invalidate anything done pursuant to or in terms of such notice.