Gold Membership
R
Financial Markets Control Act, 1989 (Act No. 55 of 1989)32. Voluntary Dissolution of Financial Exchange |
| (1) | A financial exchange may be dissolved voluntarily in such circumstances (if any) as may be specified for that purpose in its rules and in the manner provided by such rules. |
| (2) | Subject to section 35, the provisions of the Companies Act, 1973 (Act No. 61 of 1973), relating to the voluntary winding-up of companies shall mutatis mutandis apply to the voluntary dissolution of a financial exchange. |
| (3) | The liquidator of a financial exchange shall — |
| (a) | until the financial exchange is dissolved, send to the Registrar accounting records such as are by and in accordance with the regulations required to be sent to the Registrar by a financial exchange; and |
| (b) | forward to the Registrar a copy of every notice or account which in terms of the provisions of the Companies Act, 1973, he is required to furnish to the Master of the Supreme Court. |
| (4) | When the affairs of a financial exchange have been completely wound up, the Master of the Supreme Court shall transmit a certificate to that effect to the Registrar, who shall cancel the financial market licence of such exchange, and thereupon the exchange shall be dissolved. |
