Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002)

Codes of Conduct

Notice on Codes of Conduct for Administrative and Discretionary FSP's, 2003

Chapter II : Code of Conduct for Discretionary FSP’s, 2003

Part III : Duties of hedge fund FSPs, transitional provision and short title

9. Transitional provision and short title
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9.1In this section –

 

"Conditions"

means the Conditions applicable to Investment Managers and Linked Investment Services Providers determined under section 4(1)(c) of the Stock Exchanges Control Act, 1985 (Act No. 1 of 1985), and section 5(1)(c) of the Financial Markets Control Act, 1989 (Act No. 55 of 1989), and published by Board Notice 1584 of 2001 and Board Notice 1583 of 2001, respectively;

 

"investment manager"

means an investment manager as defined in the Conditions and approved in terms of section 4(1)(a) of the Stock Exchanges Control Act, 1985, or section 5(1)(a) of the Financial Markets Control Act, 1989. before the date determined by the Minister in terms of section 7(1) of the Act:

 

9.2A mandate entered into before the date determined by the Minister in terms of section 7(1) of the Act between an investment manager and a client and approved by the Registrar of Stock Exchanges or the Registrar of Financial Markets in terms of the Conditions is, if the investment manager becomes a discretionary FSP with effect from that date, and until lawful termination of the mandate thereafter, deemed to be a mandate fully complying with section 5(1) of this Chapter, notwithstanding that the mandate does not in all respects comply with the requirements set out in that section.

 

9.3        This Chapter is called the Code of Conduct for Discretionary FSP’s, 2003.

 

[Part III of Chapter II substituted by sections 4 and 6 of Notice 3294 of 2003, dated 14 November 2003]