Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)Board NoticesExemption of a category of persons conducting the business of a hedge fund from certain provisions of the Collective Investment Schemes Control Act, 20023. Extent of exemption |
| (1) | A Designated Person who complies with the provisions of paragraph 3(2) is hereby exempted from compliance with the provisions of paragraph 5 of the Declaration. |
| (2) | A Designated Person who is so exempted must, on or before 30 September 2015 furnish the Registrar in writing with the following: |
| (a) | the name of the Manager or Applicant with whom the Designated Person intends to enter into an agreement for purposes of hosting the Designated Person's Unregulated Hedge Fund as contemplated in paragraph 18 of the Hedge Fund Notice; |
| (b) | the name of the approved portfolio or portfolios administered by the Manager or, if not yet approved, the proposed name of the portfolio approval of which the Manager or Applicant has applied to the Registrar; |
| (c) | a written undertaking by the Designated Person to enter into an agreement contemplated in paragraph 3(2)(a) within three months from the date on which the Manager or Scheme is approved in terms of section 42 of the Act, subject thereto that the Registrar may at a later date, on application by the Designated Person, approve a different Manager to host the Designated Person's portfolio. |