Financial Markets Control Act, 1989 (Act No. 55 of 1989)21A. Undesirable Advertising or Canvassing in Relation to Financial Instruments |
| (1) | No person other than a member or an officer or employee of a member who is so permitted in terms of the rules, or a financial exchange or an employee of a financial exchange, shall in any matter or by any means, either for himself, herself or for any other person, directly or indirectly advertise or canvass for any business relating to the buying and selling of financial instruments. |
[Subsection (1) amended by section 10 of Act 73 of 1996]
(1A)
| (a) | No person other than a member of a foreign exchange recognised by the Registrar for the purposes of this section by notice in the Gazette, an officer or employee of such a member, such a foreign exchange or an employee of such a foreign exchange, may in any matter or by any means, either for himself herself or any other person, directly or indirectly advertise or canvass for any business relating to the buying and selling of financial instruments listed on a foreign exchange so recognised. |
| (b) | No person may in any matter or by any means, either for himself, herself or for any other person, directly or indirectly advertise or canvass for any business relating to the buying and selling of financial instruments listed on a foreign exchange not recognised by the Registrar in terms of paragraph (a). |
[Subsection (1A) inserted by section 3(a) of Act 13 of 1998]
| (2) | No person other than a person approved by the Registrar in terms of section 5(1) or exempted from the provisions of that section by section 5(1A) may by any means advertise or canvass for or market the business referred to in section 5(1). |
[Subsection (2) amended by section 3(b) of Act 13 of 1998]
(2A)
| (a) | No person may, without the approval of the Registrar, advertise or canvass for or market the business referred to In section 5(1), carried on outside the Republic. |
| (b) | The Registrar may grant the approval referred to in paragraph (a) subject to such conditions as may be necessary for the protection of investors. |
[Subsection (2A) inserted by section 3(c) of Act 13 of 1998]
| (2B) | Any advertisement, marketing material or other means of marketing contemplated in subsections (2) and (2A) shall comply with the requirements determined by the Registrar by notice in the Gazette. |
[Subsection (2B) inserted by section 3(c) of Act 13 of 1998]
| (3) | Notwithstanding anything to the contrary contained in any law, the Registrar may, if an advertisement, brochure or other document relating to financial instruments is misleading or for any reason objectionable, direct such person not to publish or to cease the publication of the advertisement, brochure or document concerned or to effect such amendments as he may deem fit. |
[Section 21A inserted by section 17 of Act 55 of 1995]