Short-Term Insurance Act, 1998 (Act No. 53 of 1998)RegulationsRegulations under the Short-term Insurance Act, 1998 (Act No. 53 of 1998)Part 3 : Limitation on Assets (Section 30)Table: Categories of Assets |
TABLE
CATEGORIES OF ASSETS
(Regulation 3.2)
In this Table particular items or groups of items referred to in Schedule 1, or particular kinds of assets falling within the more general description of those categories in Schedule 1, are specified in column 1. The maximum permitted holding of those specified assets, calculated according to their market value and expressed as a percentage of the liabilities concerned, is specified in column 2.
Asset Limitation Number |
Column 1 Relevant Schedule 1 Item |
Column 2 Percentage |
01. |
Ex item 1: |
|
01.01 |
Krugerrand coins — in the aggregate |
10 |
02. |
Ex items 2 and 18: |
|
02.01 |
In the aggregate in respect of any one institution |
20 |
02.02 |
In the aggregate in respect of margin deposits held with SAFEX |
2,5 |
03. |
Item 3: |
|
03.01 |
In the aggregate |
20 |
04. |
Ex item 6: |
|
04.01 |
In the aggregate in respect of any one body, council or institution |
20 |
05. |
Item 7: |
|
05.01 |
In the aggregate |
20 |
06. |
Item 8: |
|
06.01 |
In the aggregate |
20 |
07. |
Item 9: |
|
07.01 |
In the aggregate |
20 |
08. |
Item 10: |
|
08.01 |
In the aggregate |
20 |
09. |
Item 11: |
|
09.01 |
In the aggregate |
20 |
10. |
Ex item 12: |
|
10.01 |
In the aggregate in respect of any one body corporate |
20 |
11. |
Item 13: |
|
11.01 |
In the aggregate |
20 |
12. |
Ex items 14, 16(1), (2), (3) and (4), 17, 19 and 20: |
|
12.01 |
Immovable property, units in a unit trust scheme in property shares, loans or mortgage bonds to or shares or debentures or depository receipts or linked units or loan stock issued by a property company; and linked policies linked thereto— |
|
12.01.01 |
In the aggregate |
10 |
12.01.02 |
In the aggregate in respect of any one property, or property development project or property company |
5 |
13. |
Ex item 15: |
|
13.01 |
Computer equipment — in the aggregate |
5 |
13.02 |
Other assets — in the aggregate |
2,5 |
14. |
Ex items 16(1), (2) (3) and (4), 17 and 20(a): |
|
14.01 |
Shares, convertible debentures or depository receipts or linked units or loan stock, issued by a body corporate, other than an asset-holding intermediary, n.e.s., and units in a unit trust scheme in securities other than property shares; and linked policies linked thereto— |
|
14.01.01 |
In the aggregate |
65 |
14.01.02 |
In the aggregate in respect of ordinary shares, convertible debentures and depository receipts or linked units, issued by a body corporate, other than an asset-holding intermediary, n.e.s., and units in a unit trust scheme in securities other than property shares; and linked policies linked thereto— |
50 |
14.01.02.01 |
In the aggregate of those which are not listed on a licensed stock exchange or financial market in the Republic or are listed in the Development and Venture Capital Sectors of such an exchange or market |
2,5 |
14.01.02.02 |
In the aggregate of those which are listed on a licensed stock exchange or financial market in the Republic, otherwise than in the Development and Venture Capital Sectors thereof, and which are issued by any one body corporate which has a market capitalisation— |
|
14.01.02.02.01 |
not exceeding R2 000 million |
5 |
14.01.02.02.02 |
exceeding R2 000 million |
10 |
14.01.03 |
In the aggregate in respect of preference shares, other than property shares, and linked policies thereto— |
40 |
14.01.03.01 |
In the aggregate in respect of any one body corporate |
2,5 |
15. |
Ex items 16(1) and (2), 19 and 20(b) and (c): |
|
15.01 |
Loans to, and claims against, or debentures, other than convertible debentures, issued by, associated companies — in the aggregate |
5 |
16. |
Ex item 20(a): |
|
16.01 |
Claims under long-term policies other than linked policies— |
|
16.01.01 |
In the aggregate in respect of any one long-term insurer |
20 |
17. |
Ex items 16(1) and (2), 19 and 20(b) and (c): |
|
17.01 |
Claims against individuals, and claims against, loans to or debentures, other than convertible debentures, issued by, bodies corporate, n.e.s.— |
|
17.01.01 |
In the aggregate |
25 |
17.01.02 |
In the aggregate in respect of any one individual |
0,25 |
17.01.03 |
In the aggregate in respect of any one body corporate |
5 |
18. |
Ex item 16(5): |
|
18.01 |
Securities, shares, credit balances, deposits, units, margin deposits— |
|
18.01.01 |
In the aggregate |
15 |
18.01.02 |
Ex item 16(5)(b): |
|
18.01.02.01 |
In the aggregate |
15 |
18.01.03 |
Ex item 16(5)(d): |
|
18.01.03.01 |
In the aggregate in respect of margin deposits |
2,5 |
18.01.04 |
Ex item 16(5)(a)(i): |
|
18.01.04.01 |
In the aggregate |
15 |
18.01.05 |
Ex item 16(5)(a)(ii) and (c): |
|
18.01.05.01 |
In the aggregate |
15 |
18.01.05.02 |
In the aggregate of shares, convertible debentures or depository receipts or linked units or loan stock which are listed in a regulated market in a country other than the Republic which the Authority has approved or are listed in the Development or Venture Capital Sectors of a stock exchange outside the Republic, which the Authority has approved, and which are issued by any one body corporate incorporated outside the Republic; and linked policies linked thereto - in the aggregate |
2,5 |
18.01.05.03 |
In the aggregate of ordinary shares, convertible debentures or depository receipts or linked units or. loan stock which are listed on a stock exchange outside the Republic, which the Authority has approved, and which are issued by any one body corporate incorporated outside the Republic which has a market capitalisation; and linked policies linked thereto— |
|
18.01.05.03.01 |
not exceeding R2 000 million |
5 |
18.01.05.03.02 |
exceeding R2 000 million |
10 |
18.01.05.04 |
In the aggregate of preference shares which are listed on a stock exchange outside the Republic, which the Authority has approved, and which are issued by any one body corporate incorporated outside the Republic which has a market capitalisation— |
|
18.01.05.04.01 |
not exceeding R2 000 million |
0 |
18.01.05.04.02 |
exceeding R2 000 million |
5 |
18.01.05.05 |
In the aggregate of securities, other than convertible debentures or depository receipts or linked units or loan stock, which are listed in a regulated market in a country other than the Republic or on a stock exchange outside the Republic, which the Authority has approved, and which are issued by any one body corporate incorporated outside the Republic; and linked policies linked thereto - in the aggregate in respect of any one body corporate |
5 |
19. |
Ex items 16(5)(d) and 18: |
|
19.01 |
In the aggregate in respect of margin deposits |
2,5 |
20. |
Ex items 14, 15, 16(1), (2), (3), (4) and (5)(a)(ii) and (c), 17, 19, 20 and 21: |
|
20.01 |
In the aggregate |
70 |
21. |
In respect of any one asset not subjected elsewhere in this Table to a specific limitation |
2,5 |