Financial Services Board Act, 1990 (Act No. 97 of 1990)NoticesLevies for Financial Institutions, 202014. Levy on collective investment schemes in hedge funds |
| (1) | The levy, in respect of hedge funds schemes declared in terms of section 63 of the Collective Investment Schemes Control Act, is payable in four quarterly instalments, with each instalment consisting of: |
| (a) | an amount of R12 774 in respect of each scheme; |
| (b) | an amount of R1 911 in respect of each portfolio, fund or sub-scheme; and |
| (c) | 0.0045% of the net amount of assets managed. |
| (2) | The amounts are calculated on the basis of statistics as at the end of the preceding quarter, which statistics must be furnished to the Authority within 30 days after the end of such quarter. |
| (3) | Levies are payable in respect of all months falling within any relevant quarter. |