Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)Part XI : Conversion of Collective Investment Scheme78. Application for registrar’s approval |
| (1) | A manager must apply to the registrar for his or her approval of a conversion before a resolution on the matter is passed by investors. |
| (2) | An application referred to in subsection (1) must be accompanied by the following documents in duplicate, namely— |
| (a) | an exposition of the reasons for the proposed conversion and of the manner in which it is proposed to effect the conversion; |
| (b) | a proposed conversion scheme; |
| (c) | the proposed deed; |
| (d) | a proposed resolution by investors— |
| (i) | authorising the conversion in accordance with the conversion scheme; |
| (ii) | approving the provisions of the proposed conversion scheme; |
| (iii) | approving the deed referred to in paragraph (c); and |
| (iv) | providing for such other matters in connection with the conversion as may be considered necessary; |
| (e) | a list of the names and employment history of the persons designated to act as the first directors of the proposed manager after the conversion. |
| (3) | A manager must furnish the additional particulars in connection with the conversion that the registrar may require. |