Taxonomies
South Africa
Financial Advisory and Intermediary Services Act, 2002
Exemption of Certain Persons conducting Financial Services related business with a Private Equity Fund
Board Notice 208 of 2012
- Published in Government Gazette 35997 on 13 December 2012
- Commenced on 13 December 2012
- [This is the version of this document from 13 December 2012.]
1. Definitions
In this Schedule,“the Act” means the Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002), any word or expression to which a meaning is assigned in the Act shall have that meaning, and unless the context otherwise indicates—‘associate’ means an ‘associate’ as defined in section 1(1) of the General Code of Conduct for Authorised Financial Services Providers and Representatives, 2003;‘Code of Conduct for Discretionary FSPs’ means the Code of Conduct for Discretionary FSPs, 2003, contained in Chapter II of the Notice on Codes of Conduct for Administrative and Discretionary FSPs, published by Notice 79 of 2003 in Gazette No. 25299 of 8 August 2003, as amended;‘Determination of Fit and Proper Requirements’ means the Determination of Fit and Proper Requirements for Financial Services Providers, 2008;‘clients’ means the persons, other than the provider or its associates, who have committed capital to the private equity fund;‘pension fund’ means a pension fund and the board or board members as defined in section 1(1) of the Pension Funds Act, 1956 (Act No. 24 of 1956);‘private equity fund’ means a managed pool of capital that—(a)has as its principle business the making of equity, equity orientated or equity related investments primarily in unlisted companies or ventures to earn income or capital gains;(b)is managed or advised by a member of the South African Venture Capital and Private Equity Association or other equivalent private equity and venture capital industry body; and(c)is not open or offered to the public as an investment;‘provider’ means a Category II FSP that render financial services to a private equity fund.2. Extent of exemption and conditions
3. Amendment and withdrawal of exemption and conditions
The exemptions and conditions referred to in paragraphs 2 are subject to—4. Short title and commencement
This Exemption is called the Exemption of Certain Persons conducting Financial Services related business with a Private Equity Fund, 2012, and comes into operation on the date of publication in the Gazette.History of this document
13 December 2012 this version
Commenced
Cited documents 2
Legislation 2
1. | Pension Funds Act, 1956 | 1513 citations |
2. | Financial Advisory and Intermediary Services Act, 2002 | 310 citations |