Public Service Commission Act, 1997
R 385
Banks Act, 1990 (Act No. 94 of 1990)RegulationsRegulations relating to Banks' Financial Instrument TradingChapter 2 : General7. Stock position |
| (1) | A stock position shall be regarded as being associated with a bank's investment book, as opposed to the trading book, if the contract was concluded for investment, rather than trading purposes. |
| (2) | In ascertaining whether a stock position was acquired for investment purposes, notice may be taken of whether— |
| (a) | it is traded on a recognised or designated financial exchange; or |
| (b) | the price performance thereof is ensured by such an exchange or by a recognised clearing house; or |
| (c) | there are rules for the payment or provision of margin calls. |
| (3) | Factors that may indicate that a contract is concluded for trading purposes are that— |
| (a) | the terms specify delivery of the product within seven days; |
| (b) | either or each of the contracting parties is a producer of the commodity or uses it in its business or the purchaser takes or intends to take delivery of the commodity. |
