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Table of Contents
Securities Services Act, 2004 (Act No. 36 of 2004) - REPEALED
Introduction
Chapter I : Preliminary Provisions
1. Definitions
2. Objects of Act
3. Application of Act
4. Prohibitions
Chapter II : Regulation and Supervision of Securities Services
5. Registrar and Deputy Registrar of Securities Services
6. Financial Markets Advisory Board
Chapter III : Exchanges
7. Definitions
Licensing of exchange
8. Application for exchange licence
9. General requirements applicable to applicant for exchange licence
10. Licensing of exchange
Functions of exchange
11. General functions of exchange and power of registrar to assume responsibility for functions
12. Listing of securities
13. Removal of listing and suspension of trading
14. Application of new listing requirements and conditions to previously listed securities
15. Disclosure of information by issuers of listed securities
16. Maintenance of insurance, guarantee, compensation fund or other warranty
17. Funds of exchange
Exchange rules
18. Requirements with which exchange rules must comply
General provisions in relation to exchange
19. Buying and selling listed securities
20. Restriction on buying and selling unlisted securities
21. Reporting of transactions in listed securities
22. Undesirable advertising or canvassing relating to securities
23. Certain written matter to bear names of certain persons
24. Restriction on borrowing against and repledging of securities belonging to other person
25. Marking of or recording details of securities
26. Restriction on alienation of securities
27. Segregation of funds of authorised users and other persons
28. "stockbroker" and related designations
Chapter IV : Custody and Administration of Securities
29. Definitions
Licensing of cental securities depository
30. Application for central securities depository licence
31. General requirements applicable to applicant for central securities depository licence
32. Licensing of central securities depository
33. Functions of central securities depository
Participant
34. Acceptance of participant
Functions of participant
35. Functions of participant
Nominee
36. Approval of nominee
Uncertified securities
37. Uncertificated securities
38. Functions of issuer of uncertificated securities
Depository rules
39. Requirements with which depository rules must comply
General provisions relating to custody and administration of securities
40. Registration of securities
41. Ownership of securities
42. Transfer of securities
43. Pledge, or cession of securities to secure debt
44. Delivery of securities
45. Records
46. Warranty
47. Relationship of trust
48. Attachment
Chapter V : General Provisions Applicable to Self-Regulatory Organisations
49. Expiry and renewal of licence of self-regulatory organisation
50. Refusal of renewal of licence
51. Cancellation or suspension of licence
52. Juristic personality of self-regulatory organisation and carrying on additional business
53. Demutualisation of self-regulatory organisation
54. Amalgamation or transfer of self-regulatory organisation
55. Duty of members of controlling body of self-regulatory organisation
56. Appointment of members of controlling body of self-regulatory organization
57. Limitation on control of and certain shareholding or other interest in certain self-regulatory organisations
58. Delegation of functions
59. Report by self-regulatory organisation to registrar
60. Attendance of meetings by, and furnishing of documents to, registrar
61. Manner in which exchange rules and depository rules may be made, amended or suspended and penalties for contraventions of such rules
62. Limitation of liability
63. Disclosure of information by self-regulatory organisation
Chapter VI : Clearing House
Licensing of clearing house
64. Application for clearing house licence
65. General requirements applicable to applicant for clearing house licence
66. Licensing of clearing house
67. Renewal, cancellation or suspension of clearing house licence
68. Limitation of liability
69. Amalgamation or transfer of clearing house
Chapter VII : Code of Conduct
70. Code of conduct for authorised users
71. Principles of code of conduct
Chapter VIII : Market Abuse
72. Definitions
Offences
73. Insider trading
74. Publication
75. Prohibited trading practices
76. False, misleading or deceptive statements, promises and forecasts
Civil liability
77. Civil liability resulting from insider trading
78. Powers of directorate in civil proceedings
Procedural matters
79. Jurisdiction
80. Assessment of fines and penalties
81. Attachments and interdicts
Administration of this Chapter
82. Powers and duties of Financial Services Board
83. Composition and functions of directorate
84. Financing of directorate
General provisions
85. Protection of existing rights
86. Confidentiality and sharing of information
87. Offences committed in terms of section 440F of Companies Act and Insider Trading Act
Chapter IX : General Provisions
Auditing
88. Auditor
89. Accounting records and audit
90. Functions of auditor
91. Furnishing of information in good faith by auditor
92. Power of registrar to request audit
Powers of registrar and court
93. Powers of registrar to investigate or conduct inspection
94. Powers of registrar after investigation or inspection
95. Power of registrar to impose penalties
96. Power of court to declare person disqualified
Enforcement committee
97. Establishment of enforcement committee
98. Composition of enforcement committee
99. Functions of enforcement committee
100. Enforcement committee proceedings
101. Referral of matter
102. Consideration of matter by enforcement committee
103. Admission by respondent
104. Imposition of administrative penalty
105. Payment of compensatory amount
106. Confidentiality
Winding-up judicial management and curatorship
107. Winding-up or sequestration by court
108. Judicial management
109. Appointment of curator
110. Appointment of liquidator and judicial manager
Miscellanea
111. Right of appeal
112. Evidence
113. Regulations
114. Fees
115. Offences and penalties
116. Savings
117. Amendment and repeal of laws
118. Short title and commencement
Schedule
Laws Amended or Repealed
Notices
Notice 20 of 2005
Code of Conduct for Authorised Users
1. Definitions, construction and application
2. General duties of authorised users
3. Furnishing of advice
4. Disclosure to clients
5. Record-keeping
6. Inducements
7. Advertisements
8. Safekeeping and separation of funds and assets
9. Client statements
10. Internal control and risk management
11. Guarantees and insurance cover
12. Waiver of rights
13. Exemption
14. Commencement
Notice 23 of 2005
Conditions Applicable to the Granting and Renewal of an exchange, Central Securities Depository or Clearing House Licence
1. Definition
2. Application for and renewal of licence
3. Address
4. Commencement
Forms
Form SS 1 : Application under section 8(3), 30(2) and 64(2) of the Act for an exhange, central securities depository or clearing house licence, respectively
Form SS 2 : Application for renewal of licence
Annexures
Annexure 1 : Form SS 1
Annexure 2 : Form SS 1
Annexure 1 : Form SS 2
Nominee
Purchase
36. Approval of nominee
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