Statistics Act, 1999
R 385
Financial Advisory and Intermediary Services Act 2002 (Act No. 37 of 2002)DeterminationsDetermination of Fit and Proper Requirements for Financial Services Providers, 2017Chapter 4 : Continuous Professional Development34. Reduction of CPD hours |
| (1) | An FSP may pro rata reduce the CPD hours in respect of a representative for the period of time during which that representative is continuously absent from work if that absence is due to— |
| (a) | maternity, paternity or adoption leave; |
| (b) | long-term illness or disability; or |
| (c) | the representative’s responsibilities to care for a family member of that representative who has a long-term illness or disability. |
| (2) | The reduced CPD hours must be calculated as follows: |
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(X ÷ 12) x (12 – Y) = Z |
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| (3) | An FSP may not reduce the CPD hours of a representative for consecutive CPD cycles except where the absence referred to in subsection (1) commenced in a particular CPD cycle and uninterruptedly continues into the consecutive CPD cycle. |
| (4) | The reduction referred to in subsection (3) may only be applied for a maximum period of three consecutive CPD cycles. |
