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

Notices

Determination of the Limits and Conditions for Third Party Named Portfolios of Collective Investment Schemes

Part IV : General Provisions

12. Minimum Size of Portfolios
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(1)The assets under management of a third party named portfolio, may not be less than R50 million after a period of three years from date of approval of the name of the portfolio.

 

(2)If the assets under management of the third party named portfolio have not reached R50 million on expiry of the three year period referred to at sub-paragraph 1, the manager must apply to the Registrar to:—
(a)wind up the portfolio in accordance with section 102 of the Act; or
(b)amalgamate the portfolio with one of its portfolios in accordance with section 99 of the Act.