Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)Part IV : Collective Investment Schemes in Securities44. Determination of market price of securities |
| (1) | A security must be valued at its fair market price. |
| (2) | When a manager is unable to determine a market price for a security, whether listed on an exchange or not, for the purposes of a collective investment scheme in securities, a fair market price for such security must, at the request of such manager, be determined by a stockbroker who is a member of a licensed exchange. |
| (3) | If such manager does not agree with the price determined by the stockbroker, it must refer the matter to the committee of the exchange concerned, which thereupon must determine the fair market price for such security. |