| (1) |
The Authority may, after consideration of any objection received as a result of the notice referred to in section 27(4) and subject to the conditions which the Authority may consider appropriate, grant a central securities depository licence to perform the functions referred to in section 30 if— |
| (a) |
the applicant complies with the relevant requirements of this Act; and |
| (b) |
the objects of this Act referred to in section 2 will be furthered by the granting of such a licence. |
| (2) |
The licence must specify the registered office of the central securities depository in the Republic and the places where the central securities depository may be operated, and that the central securities depository may not be operated at any other place without the joint prior written approval of the Authority, the Prudential Authority and the South African Reserve Bank. |
[Section 29(2) substituted by section 290, item 19(a) of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]
| (3) |
A central securities depository may at any time apply to the Authority for an amendment of the terms of its licence and the conditions subject to which its licence was granted. |
| (a) |
The Authority must publish a notice of an application for an amendment of the terms of a central securities depository licence and the conditions subject to which the licence was granted in two national newspapers at the expense of the applicant and on the Authority's website. |
[Section 28(4)(a) substituted by section 290, item 19(b) of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]
| (b) |
The notice must state— |
| (i) |
the name of the applicant; |
| (ii) |
the nature of the proposed amendments; and |
| (iii) |
the period within which objections to the application may be lodged with the Authority. |
National Environmental Management Act, 1998 (107 of 1998)
