Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)Part I : Collective Investment Schemes5. Requirement for administration of collective investment schemes |
| (1) | No person may perform any act or enter into any agreement or transaction for the purpose of administering a collective investment scheme unless such person— |
| (a) | is registered as a manager by the registrar or is an authorised agent; or |
| (b) | is exempted from the provisions of this Act by the registrar by notice on the official web site. |
[Subsection (1)(b) amended by section 210 of Act No. 45 of 2013]
| (2) | The provisions of this Act do not apply to the rendering of securities services by any "authorised user", "clearing member", "licensed central securities depository", "licensed clearing house", "licensed exchange" or "participant" as defined in section 1 of the Financial Markets Act, 2012 to the extent that the rendering of those services are specifically supervised under that Act. |
[Section 5 amended by section 111 of the Financial Markets Act, 2012]