| (1) | Any holder of a refining licence or precious metal beneficiation licence who intends to manufacture minted bars may apply to the Regulator for registration as an approved manufacturer of minted bars and for a quota of minted bars to be manufactured in the Republic; |
| (2) | An application contemplated in sub-regulation (1) must be lodged by submitting a completed Form MB1 to the Regulator; |
| (3) | The following documents must be lodged together with Form MB1 contemplated in sub-regulation (1): |
| (b) | documentary proof of accreditation from national or international organisation relating to manufacture of precious metals bars; |
| (c) | track record of the manufacture of high quality precious metal bars; |
| (e) | quality assurance system relating to precious metals bars. |
| (4) | The quantity of minted bars that may be manufactured in the Republic may not exceed 500 000 troy ounces in a calendar year and this quantity may from time to time be adjusted by the Minister in consultation with the National Treasury by notice in the Gazette; |
| (5) | The maximum number of approved manufactures shall be determined by the Regulator in consultation with National Treasury, based on exchange control, security and market considerations; |
| (6) | The Regulator may within 30 days after lodgement of Form MB1 and subject to sub-regulation (3) register a holder of a refining licence or precious metal beneficiation licence as an approved manufacturer of minted bars; |
| (7) | If the Regulator refuses an application referred to in sub-regulation (1), the Regulator shall notify the applicant and provide the reason for his or her decision; |
| (8) | The Minister may after consultation with the Regulator publish from time to time in the Gazette, the names of approved manufacturers of minted bar. |
[Regulation 27B inserted by regulation 10 of Notice No. R. 387 dated 4 April 2008]
