National Environmental Management Act, 1998 (107 of 1998)
R 385
Financial Markets Act, 2012 (Act No. 19 of 2012)RegulationsFinancial Markets Act RegulationsChapter VI : Central Counterparties41. Interoperability arrangements41.3 Approval of interoperability arrangements |
| (1) | An interoperability arrangement is subject to the prior approval of the Authority and the South African Reserve Bank, and in the case of an external central counterparty the supervisory authority of the central counterparties involved, where the central counterparty meets all the requirements as set out in this Regulation. |
| (2) | Subject to Regulation 41.4, the Authority may grant approval of the interoperability arrangement only— |
| (a) | where the central counterparties— |
| (i) | have been licensed for a period of at least three years; and |
| (ii) | meet all the applicable requirements as set out in these Regulations; and |
| (b) | the technical conditions for clearing transactions under the terms of the arrangement allow for a smooth and orderly functioning of financial markets and the arrangement does not undermine the effectiveness of supervision. |
