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Financial Markets Act, 2012 (Act No. 19 of 2012)

Chapter VI : Trade Repositories

58. Reporting obligations

 

(1) Subject to regulations prescribed by the Minister, the Authority may prescribe reporting obligations in respect of transactions or positions in unlisted securities which must be reported to a trade repository, including—
(a) the types of unlisted securities to which reporting requirements apply;
(b) the entities to whom such reporting requirements apply;
(c) the manner and frequency of reporting; and
(d) any other matter to ensure adequate reporting.

 

(2)

(a) Despite subsection (1), requirements prescribed under this section that are in force immediately before the commencement of this subsection continue to be in force.
(b) In respect of regulations prescribed in terms of subsection (1), the Minister may repeal regulations, and new requirements may then be prescribed in joint standards or conduct standards.
(c) Paragraph (b) does not affect or limit the power of the Minister to prescribe or amend regulations in terms of subsection (1).
(d) Requirements other than those that were prescribed in regulations referred to in paragraph (b) that were prescribed terms of subsection (1) before the commencement of this subsection, may be amended or repealed by conduct standards or joint standards.

 

[Section 58 substituted by section 290, item 40 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)]