Financial Services Board Act, 1990 (Act No. 97 of 1990)

Notices

Levies for Financial Institutions, 2020

1. Definitions
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In this Notice, any word or expression to which a meaning has been assigned in any financial services law, has the meaning so assigned to it and, unless the context indicates otherwise—

 

"Authority"

means the Financial Sector Conduct Authority established under section 56 of the Financial Sector Regulation Act;

 

"Collective Investment Schemes Control Act"

means the Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002);

 

"commercial umbrella fund"

means a fund as defined in section 1(1) of the Pension Funds Act established for the benefit of employees of various employers which are not subsidiaries of a single holding company;

 

"Credit Rating Services Act"

means the Credit Rating Services Act, 2012 (Act No. 24 of 2012);

 

"Financial Advisory and Intermediary Services Act"

means the Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002);

 

"Financial Markets Act"

means the Financial Markets Act, 2012 (Act No. 19 of 2012);

 

"Financial Sector Regulation Act"

means the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017);

 

"financial services law"

means the Act, the Acts referred to in paragraph (a) of the definition of "financial institution" in section 1 of the Act, the Financial Sector Regulation Act and the Insurance Act;

 

"Friendly Societies Act"

means the Friendly Societies Act, 1956 (Act No. 25 of 1956);

 

"Insurance Act"

means the Insurance Act, 2017 (Act No. 18 of 2017);

 

"levy year"

means the period from 1 April 2020 to 31 March 2021 and, subject to this Notice and any amendment or repeal thereof, such corresponding period in succeeding years, in respect of which levies are imposed;

 

"Long -term Insurance Act"

means the Long -term Insurance Act, 1998 (Act No. 52 of 1998);

 

"microinsurer"

has the meaning assigned to it in section 1 of the Insurance Act;

 

"Pension Funds Act"

means the Pension Funds Act, 1956 (Act No. 24 of 1956);

 

"Short-term Insurance Act"

means the Short -term Insurance Act, 1998 (Act No. 53 of 1998); and

 

"the Act"

means the Financial Services Board Act, 1990 (Act No. 97 of 1990).