| (1) |
Notwithstanding the provisions of section 30 of the Companies Act, 1973 (Act No. 61 of 1973), ten or more persons may form an association to carry on the business of a financial market, and the association may apply to the Registrar to issue to the association a financial market licence or to renew any such licence. |
| (2) |
Every application relating to the issue or renewal of a financial market licence shall — |
| (b) |
be accompanied by the prescribed application fee; and |
| (c) |
in the case of an application in respect of the issue of any such licence, also be accompanied by five copies of the proposed rules. |
| (3) |
The Registrar shall advertise every application for the issue of a financial market licence in two national newspapers in any two official languages (one of which shall be English), at the expense of the applicant. |
| (4) |
The advertisement shall state — |
| (a) |
the name of the applicant; |
| (b) |
the place where the rules of the applicant will be available for inspection by any member of the public; and |
| (c) |
the period within which any objections to the issue of the licence may be lodged with the Registrar. |
[Section 7 substituted by section 4 of Act 55 of 1995]
Special Investigating Units and Special Tribunals Act, 1996
