Attorneys Act, 1979 (Act No. 53 of 1979)Rules for the Attorneys' ProfessionPart V : Accounting RulesInvestment Practice RulesDefinitions |
| 36.1 | A firm shall for the purpose of this rule be deemed to be carrying on the business of an investment practice if it invests funds on behalf of a client or clients and it controls or manages, whether directly or indirectly, such investments. |
| 36.2 | A client shall for the purpose of this rule include any person on whose behalf a firm invests funds or manages or controls investments, whether or not such person is otherwise a client of the firm concerned. |
| 36.3 | This rule shall not apply to: |
| 36.3.1 | investments made pursuant to section 78(2A) of the Act, which are not transactions contemplated in rule 36.1; |
| 36.3.2 | any investment of a temporary nature that is made in the course of and incidental to a conveyancing or other matter, including litigation, to which the investing client is a party; |
| 36.3.3 | investments made by members of firms in their capacity as executors, trustees, curators or in any similar capacity in so far as such investments are governed by any other statutory enactment or regulation; |
| 36.3.4 | any investment (other than referred to in rule 36.1) made with a bank in the name of that client alone and on the written instructions of that client. |