National Environmental Management Act, 1998 (107 of 1998)
R 385
Financial Markets Act, 2012 (Act No. 19 of 2012)Chapter VII : General Provisions Applicable to Market Infrastructures68. Delegation of functions |
| (1) | A market infrastructure may delegate or assign any function entrusted to it by this Act or its rules to a person or group of persons, or a committee approved by the controlling body of the market infrastructure, or a division or department of the market infrastructure, subject to the conditions that the market infrastructure may determine. |
| (2) | Before delegating or assigning functions as contemplated in subsection (1) to an external party, the market infrastructure must obtain the approval of the Authority. |
| (3) | The Authority may delegate or assign any function entrusted to the Authority by or under this Act, subject to the conditions that the Authority may determine. |
| (4) | A market infrastructure or the Authority, as the case may be, is not divested or relieved of a function delegated or assigned under subsections (1) and (2), and may, if necessary, withdraw the delegation or assignment at any time on reasonable notice. |
