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

Chapter VI : Clearing House

Licensing of clearing house

64. Application for clearing house licence

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(1)A person may apply to the registrar for a licence to provide clearing house

 

(2)An application for such a licence must be services to an exchange.
(a)made in the manner and contain the information prescribed by the registrar;
(b)accompanied by—
(i)particulars of the applicant’s proposed appointment by an exchange;
(ii)the application fee prescribed by the Minister; and
(iii)such other information as the registrar may reasonably require.

 

(3)The registrar must give notice of an application for a clearing house licence in two national newspapers at the expense of the applicant. The notice must state—
(a)the name of the applicant;
(b)the period within which objections to the application may be lodged with the registrar.