Securities Services Act, 2004 (Act No. 36 of 2004)Chapter VI : Clearing HouseLicensing of clearing house65. General requirements applicable to applicant for clearing house licence |
| (1) | An applicant for a clearing house licence must— |
| (a) | have the financial resources, and the management and human resources with appropriate experience, necessary for the operation of a clearing house in terms of this Act; |
| (b) | comply with the requirements prescribed by the registrar for the provision of clearing house services; |
| (c) | maintain infrastructure for the sustained provision of clearing house services; and |
| (d) | maintain security and back-up procedures to ensure the integrity of its records of transactions. |
| (2) | The registrar may prescribe any of the requirements referred to in subsections(1)(a), (c), and (d) in greater detail. |