Financial Markets Control Act, 1989 (Act No. 55 of 1989)

An association referred to in section 7 shall as from the date on which it is for the first time issued with a financial market licence be a juristic person capable of suing or being sued in the name in which it is licensed, and of acquiring, owning, burdening, hiring, letting and alienating property, and, subject to the provisions of this Act, of doing such things as may be necessary for or incidental to the exercise of its powers or the carrying out of its duties in terms of the rules.

[Section 12 substituted by section 5 of Act 73 of 1996]