| (1) |
Every deed must set out the requirements for the administration of a portfolio and it must contain, amongst others and as far as they can be applied, provisions to regulate the matters detailed in Schedule 1 in respect of a collective investment scheme in securities and those detailed in Schedule 2 in respect of a collective investment scheme in property. |
| (2) |
The registrar may by notice in the Gazette exempt a particular type or category of collective investment schemes from the provisions of subsection (1) and determine the matters to be complied with or to be provided for in a deed by such type or category of collective investment schemes. |
| (a) |
The registrar, if a provision of a deed is not in the best interests of investors or does not afford sufficient protection to investors, may by notice in the Gazette suspend a provision of any deed and— |
| (i) |
determine the matters to be complied with; or |
| (ii) |
determine the matters in respect of and the period within which any deed must be amended. |
| (b) |
Where the registrar, under paragraph (a)(ii), has determined matters in respect of and the period within which a deed must be amended, and the deed is not amended to the satisfaction of the registrar or within the determined period, the registrar may amend the deed. |
| (c) |
If the registrar has amended a deed under paragraph (b), the deed must be regarded as having been amended in accordance with the requirements of this Act, despite all parties to that deed not having agreed to or signed the deed. |
[Subsection 3 amended by section 234 of Act No. 45 of 2013]
South African Institute for Drug Free Sport Act, 1997
