Financial Services Board Act, 1990 (Act No. 97 of 1990)NoticesLevies for Financial Institutions, 201921. Levy on financial markets in respect of market abuse |
| (1) | A levy for the payment of the costs of performing the functions of the Authority and the Directorate of Market Abuse in terms of the Financial Markets Act, is payable as follows: |
| (a) | R25 872 480 by the JSE Ltd; |
| (b) | R114 480 in respect of an exchange contemplated in paragraph 20 subparagraph (2). |
| (2) | The levy referred to in subparagraph 1(a) is payable in four quarterly instalments of R6 468 120 each on or before 31 July, 30 September, 31 December and 31 March of the levy year. |
| (3) | The levy referred to in subparagraph 1(b) is payable within 30 days of the date of the levy invoice raised on the exchange. |
| (4) | In addition to the levies referred to in subparagraph 1(a) and 1(b), the legal costs actually incurred by the Authority in respect of market abuse litigation are payable quarterly in arrears by the relevant exchange on which the market abuse activity occurred. |