Acts Online
GT Shield

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

Board Notices

Determination of Securities, Class of Securities, Assets or Classes of Assets that may be included in a portfolio of a Collective Investment Scheme in Securities and the manner in which and the limits and conditions subject to which Securities or Assets may be so included

Chapter ll : Money Market Portfolio

5. Determination of money market instruments

 

For the purposes of this Chapter, money market instruments which may be included in a money market portfolio, other than deposits must be transferable and acknowledging indebtedness and are defined as follows:

 

(a) "asset with a branch of a foreign institution"

means a deposit with, or any instrument of indebtedness (as defined in sub-paragraphs (b) to (n)) issued by a branch of a foreign institution, which institution is authorised in terms of the Banks Act to conduct the business of a bank by means of such branch; provided that the foreign institution must be domiciled in a country which is assigned a foreign currency sovereign rating of at least the same as the Republic;

 

(b) "banker's acceptance"

means a bill as defined in the Bills of Exchange Act, drawn on and accepted by a bank;

 

(c) "bond"

means an acknowledgement of debt in which the issuer/guarantor undertakes to repay the debt together with interest on the maturity of the debt to the holder of the bond;

 

(e) "commercial paper"

means any negotiable acknowledgement of debt;

 

(f) "debenture"

means debenture stock, debenture bonds and any other securities of a company, whether constituting a charge on the assets of the company or not;

 

(g) "deposit"

means a deposit as defined in the Banks Act, or in the Mutual Banks Act;

 

(h) "Islamic Compliant Instrument"

means an Islamic Complaint Instrument as defined in this Notice;

 

(i) "land bank bill"

means a bill or note as defined in the Bills of Exchange Act, drawn, accepted or issued by the Land and Agricultural Bank of South Africa;

 

(j) "negotiable certificate of deposit"

means a certificate of deposit issued by a bank, and payable to order or to bearer;

 

(k) "public entity bill"

means a bill or note as defined in the Bills of Exchange Act, drawn, accepted or issued by a parastatal institution;

 

(l) "promissory note"

means a promissory note as defined in the Bills of Exchange Act;

 

(m) "trade bill" or "trade note"

means a bill or note as defined in the Bills of Exchange Act, drawn, accepted or issued to provide for the payment for goods;

 

(n) "treasury bill"

means a bill drawn by the Government on the Secretary to the Treasury calling on the latter to pay a sum certain in money to a specified person or his order or to bearer, on demand or on a certain specified future date.