Sheriffs Act, 1986 (Act No. 90 of 1986)RegulationsRegulations relating to Sheriffs, 199015. Investment of moneys in Fund |
| (1) | The Board shall, having regard to the audited annual financial statement referred to in section 28(1)(b) of the Act, decide what moneys in the Fund are not immediately required for the purposes of the Fund. |
| (2) | Any money referred to in subregulation (1) shall, in terms of section 27(2) of the Act, be invested by the Board in any one or more of the following forms of security: |
| (a) | On deposit with a banking institution, building society or registered mutual life assurance company; |
| (b) | in bills, bonds, certificates, debentures or stock issued or guaranteed by the Government of the Republic; |
| (c) | in stock of any local authority in the Republic which is authorised by law to levy rates on immovable property; |
| (d) | in debentures or stock of the Reserve Bank, the Rand Water Board or any other body constituted or established by or under any law and financed wholly or partly from public funds; |
| (e) | in debentures, debenture stocks or other securities of Escom; |
| (f) | in loans against security of a first mortgage bond on urban immovable property; and |
| (g) | in urban immovable property: Provided that not more than 10 percent of the Fund's assets, calculated on the date of investment, may be invested in urban immovable property. |