Financial Markets Act, 2012 (Act No. 19 of 2012)RegulationsFinancial Markets Act RegulationsChapter VII : Transitional Arrangements and Commencement43. Transitional arrangements |
| (1) | A person conducting the business of an OTC derivative provider must, within 6 months from the commencement date of Regulation 2, lodge with the Authority an application for authorisation as an OTC derivative provider in the manner prescribed by the Authority. |
| (2) | A licensed exchange, licensed central securities depository, licensed clearing house and licensed trade repository must comply with Regulation 8 within 12 months from the commencement date of these Regulations. |
| (3) | A licensed central counterparty, or a licensed clearing house approved by the Authority, the South African Reserve Bank and the Prudential Authority to perform the functions of a central counterparty, must comply with the requirements set out in Chapter VI of these Regulations within 18 months from the commencement date of these Regulations. |