Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)Part XII : General93. Permissible deductions from portfolio |
| (1) | The amounts which may be deducted from a portfolio are— |
| (a) | charges payable on the buying or selling of assets for the portfolio such as brokerage, marketable securities tax, value-added tax or stamp duties; |
| (c) | share creation fees payable to the Registrar of Companies for the creation of authorised capital or, in the case of a collective investment scheme in property, the costs incurred in the creation and issue of participatory interests; |
| (d) | the agreed and disclosed service charges of the manager; and |
| (e) | any costs incurred as a result of a collective investment scheme in property being listed on an exchange. |
| (2) | Amounts other than those referred to in subsection (1) may not be deducted by a manager from a portfolio unless determined by the registrar. |