Value-Added Tax Act, 1991 (Act 89 of 1991)
R 385
Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002)RegulationsFinancial Advisory And Intermediary Services Regulations, 2003Chapter V : Matters relating to Administrative and Discretionary FSPs (Section 35(1)(d) and (e) of Act)7. Independent nominees of administrative FSPs |
| (1) | An administrative FSP must prior to commencing business apply to the registrar for approval of its independent nominee which complies with regulation 9. |
| (2) | The application must be made in accordance with section 3(2) of the Act and be accompanied by the latest audited annual financial statements relating to the independent nominee. |
| (3) | The administrative FSP remains responsible for ensuring that its independent nominee executes its duties in accordance with these Regulations. |
