| (1) | In this Act "financial service" means— |
| (i) | Offering, promoting, marketing or distributing; |
| (ii) | providing advice, recommendations or guidance; |
| (iii) | operating or managing; |
| (iv) | providing administration services; |
| (b) | dealing or making a market in the Republic in a financial product, a foreign financial product, a financial instrument or a foreign financial instrument; |
| (f) | a service related to the buying and selling of foreign exchange; |
| (g) | a service related to the provision of credit, including a debt collection service, but excluding the services of— |
| (i) | a debt counsellor registered in terms of section 44 of the National Credit Act who provides the services of a debt counsellor as contemplated in that Act; |
| (ii) | a payment distribution agent as defined in section 1 of the National Credit Act; or |
| (iii) | an alternative dispute resolution agent, as defined in section 1 of the National Credit Act; |
| (3) | If doing so will further the object of this Act set out in section 7, the Regulations may designate as a financial service— |
| (a) | any service that is not regulated in terms of a specific financial sector law if the service, that is provided in the Republic, relates to— |
| (i) | a financial product, a foreign financial product, a financial instrument or a foreign financial instrument; |
| (ii) | an arrangement that is in substance an arrangement for lending, making a financial investment or managing financial risk, all as contemplated in section 2(2) to (4); or |
| (b) | a service provided by a market infrastructure. |
| (4) | For the purposes of subsection (1)(b) of the definition of "financial service" in subsection (1)— |
"dealing"
means any of the following, whether done as a principal or as an agent:
| (b) | the buying or selling of the securities or interests for own account or on behalf of another person as a business, a part of a business or incidental to conducting a business; |
"making a market"
in a financial instrument takes place when—
| (a) | a person, through a facility, at a place or otherwise, states the prices at which the person offers to acquire or dispose of financial instruments, whether or not on the person’s own account; and |
| (b) | other persons reasonably expect that they can enter into transactions for those instruments at those prices. |
