Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)Part XII : General88. Capital requirement which manager must maintain |
| (1) | A manager must on an ongoing basis maintain in liquid form the capital for the matters and risks determined by the registrar. |
| (2) | The registrar may exempt the managers of a particular category of collective investment schemes from any or all the requirements referred to in subsection (1) and determine capital requirements for such managers. |
| (3) | The registrar may exempt a manager from compliance with the requirements of this section for such period, not exceeding six months, and on such conditions as he or she may lay down. |
| (4) | A manager who ceases to comply with subsection (1), and who has not been exempted under subsection (3), must within 30 days notify the registrar in writing to that effect. |