Securities Services Act, 2004 (Act No. 36 of 2004)Chapter IX : General ProvisionsMiscellanea116. Savings |
| (1) | The licence, registration or authorisation of a regulated person who immediately before the date of commencement of this Act was licensed, registered or authorised under an Act repealed by this Act— |
| (a) | shall have effect as from the date of commencement of this Act as if granted under a corresponding provision of this Act; |
| (b) | in the case of a licence, registration or authorisation which expires after a specified period, shall remain in force, subject to this Act, for so much of that period as falls after the date of commencement of this Act. |
| (2) | The repeal by this Act of the Financial Markets Control Act, 1989 (Act No. 55 of 1989), does not affect the recognition of a clearing house under the latter Act: Provided that such a clearing house must apply for a clearing house licence in terms of section 64 within six months from the date of commencement of this Act. |
| (3) | The rules of a self-regulatory organisation made under an Act repealed by this Act and in force immediately before the date of commencement of this Act continue in force so far as they are not inconsistent with this Act: Provided that a self-regulatory organisation must, within six months from the date of commencement of this Act, amend or replace its rules so as to comply with the requirements of this Act. |
| (4) | Subsection (3) applies with the changes required by the context to the listing requirements of an exchange. |