Securities Services Act, 2004 (Act No. 36 of 2004)

Chapter IV : Custody and Administration of Securities

Licensing of central securities depository

31. General requirements applicable to applicant for central securities depository licence
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(1)An applicant for a central securities depository licence must—
(a)have the financial resources, and the management and human resources with appropriate experience, necessary for the operation of a central securities depository in terms of this Act;
(b)have made arrangements for the proper supervision of compliance by participants with the depository rules;
(c)maintain security and back-up procedures to ensure the integrity of its records.

 

(2)The registrar may prescribe any of the requirements referred to in subsection (1) in greater detail.