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

Notices

Determination of Fit and Proper Requirements and Conditions for Managers of Collective Investment Schemes

2. Introduction

 

1) Any manager authorised in terms of the Act, to administer a collective investment scheme, is required to adhere to the Fit and Proper Requirements and Conditions for Managers of Collective Investment Schemes as determined in this Notice.

 

2) Managers must complete Annexure B attached to this Notice in respect of its directors and submit it to the registrar within three months after· publication of this Notice together with a written statement signed by the chairperson/managing director describing compliance/non-compliance with paragraphs 3, 4, 5, 6, 7, 8 and 9 of this Notice.

 

3) Thereafter, managers must annually submit a written statement as prescribed in paragraph 10 of this Notice to the registrar.

 

4) Where an application is made for registration as manager of a collective investment scheme as contemplated in section 42(1) (read with sections 48, 51, 53, 54, 64 and 77) of the Act, or for approval for a change in directors as contemplated in section 43(1)(a) of the Act, Annexure B must be completed by the applicant or manager with regard to its directors.

 

5) If the appointment of a director of a manager is terminated for whatever reason the terminated director and public officer must complete Annexure C and submit it to the registrar within one month after termination of such appointment.