Broad-Based Black Economic Empowerment Act, 2003
R 385
Financial Advisory and Intermediary Services Act 2002 (Act No. 37 of 2002)DeterminationsAmendment of the Determination of Fit and Proper Requirements, 2020Chapter 3 : Competence RequirementsPart 2 : Minimum experience16. Lapsing of experience |
| (1) | The experience gained by an FSP or a representative lapses when the FSP or representative has not rendered the particular financial service in respect of a particular financial product relevant to a particular category of FSP for a period of five consecutive years. |
| (2) | The experience gained by a key individual lapses when the key individual has not managed or overseen the rendering of a particular financial service in respect of a particular category of FSP for a period of five consecutive years. |
