South African Reserve Bank Act, 1989 (Act No. 90 of 1989)

Regulations

South African Reserve Bank Regulations, 2010

Chapter I : Interpretation

1. Definition
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1.1In these Regulations, unless the context otherwise dictates—

 

"address for electronic service"

means an address or fax number for receipt of an "electronic communication" as defined in the Electronic Communications and Transactions Act, 2002 (Act no. 25 of 2002);

 

"beneficial interest"

when used in relation to a share, means the right or entitlement of a person, through ownership, agreement, relationship or otherwise, alone or together with another person to—

(a)receive or participate in any distribution in respect of the share;
(b)exercise or cause to be exercised, in the ordinary course, any or all of the rights attaching to the share; or
(c)dispose or direct the disposition of the share;

 

"chairperson"

in respect of any general meeting, means—

(a)the Governor;
(b)in the absence of the Governor, a Deputy Governor designated by the Governor; or
(c)any other director designated by the Minister to act as chairperson of the meeting;

 

"general meeting"

means an ordinary general meeting or an extraordinary general meeting of shareholders;

 

"lodged"

in relation to any legal document, means lodged with the Secretary at the Bank's head office in Pretoria, or by transmission to an address for electronic service permitted by the Secretary;

 

"register"

means either the register of shareholders or the register of directors, as the context requires;

 

"share"

means a share issued in terms of section 21 of the Act;

 

"shareholder permitted to vote"

means a shareholder holding at least 200 shares and permitted to vote in terms of section 23 of the Act;

 

"sign" and "signature"

include—

(a)the reproduction of a signature by lithography, stamp or other mechanical process, and
(b)an "electronic signature" as defined in the Electronic Communications and Transactions Act, 2002;

 

"statutory information"

means all information required by the Act and these Regulations, and includes in relation to a buyer and a seller of shares—

(a)in the case of a natural person, a valid South African identity document or any other official identification document as recognised by the Transfer Secretary;
(b)in the case of a company, a certificate of incorporation, certificate to commence business and memorandum and articles of association;
(c)in the case of a close corporation, a founding statement or amended founding statement;
(d)in the case of a trust, the trustees, beneficiaries and Masters; Letters of Authority; or
(e)any further information in respect of the Buyer or Seller, whether a legal or natural person, that the Transfer Secretary may in his or her discretion require;

 

"the Secretary"
means a person appointed by the Board as a Secretary or Assistant Secretary, or any other person acting in that capacity by authority of the Board;

 

"the Transfer Secretary"
means a person appointed as such by the Bank, or any other person acting in that capacity;

 

"the Act"
means the South African Reserve Bank Act, 1989 (Act no. 90 of 1989), as amended;

 

"written notice"

means notice delivered or mailed to a physical address or sent to an address for electronic service.

 

1.2The definitions in section 1 of the Act also apply in these Regulations.