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Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002)


Financial Advisory And Intermediary Services Regulations, 2003

Chapter V : Matters relating to Administrative and Discretionary FSPs (Section 35(1)(d) and (e) of Act)

8. Written agreement with independent nominee


(1) The written agreement between the administrative FSP and its independent nominee must be approved by the registrar.


(2) If the administrative FSP gives or receives notice of termination of the agreement for any reason, the FSP must at once inform the registrar thereof.


(3) The administrative FSP must within 30 days after giving or receiving such notice apply to the registrar in the manner contemplated in section 3(2) of the Act, for approval of a replacement independent nominee.