Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)Part XII : General89. Obligation of manager to maintain capital requirement and failure to comply |
| (1) | A manager may not be registered or allowed to continue as a manager, unless at the time of registration and at all times thereafter the manager has nett assets in liquid form which exceed the minimum capital requirement determined under section 88. |
| (2) | A manager who, immediately before the commencement of this Act, was a management company registered under any law repealed by this Act, must within 60 days after such commencement comply with the capital requirement determined under section 88. |