Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)

Notices

Exemption of Manager of Collective Investment Scheme in Securities from Certain Provisions of Notice 1503 of 2005

Notice No. 408 of 2011
Purchase cart Previous page Return to chapter overview Next page

 

Notice No. 408

24 June 2011

 

Financial Services Board

 

I, Dube P Tshidi, Registrar of Collective Investment Schemes, under section 22(a), read with section 40 of the Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002) ("the Act''), hereby exempt a manager that administers a collective investment scheme in securities under the Act in compliance with the relevant Standards of the Accounting and Auditing Organization for Islamic Financial Institutions ("AAOIFI"), from certain provisions of Notice 1503 of 2005 ("the Notice"), as set out in the Schedule.

 

This exemption only applies to instruments contemplated in paragraphs A(b), A(g), B12(e) and B12(j) of Notice 131 of 2010, as published in Government Gazette No. 32951 of 19 February 2010.

 

 

D P Tshidi

Registrar of Collective Investment Schemes

 

 

SCHEDULE

 

A manager that administers a portfolio as contemplated in Chapters III and VII of the Notice is hereby exempted from compliance with the inclusion limits in paragraphs 13(1) and 25(b) on condition that the following limits shall apply:

 

Exemption from 1 July 2011 until 31 May 2013

 

Rating Band as per Table in Annexure B and C as applicable to Chapters Ill and VII

Inclusion Limit per Instrument or Issuer as a Percentage of the Market Value of Assets Comprising the Portfolio

Rating Band 1

50%

 

 

Repeal of Notice and Commencement

 

(1)Board Notice 99 of 2010, as published in Government Gazette No.33328 of 2 July 2010, is hereby repealed.

 

(2)This Notice comes into effect on 1 July 2011.