| (1) |
A company which desires to be registered as a manager of a collective investment scheme in securities must lodge with the registrar an application for registration in the manner and form determined by the registrar, disclose the particulars determined by the registrar and pay the application fee determined by the registrar. |
| (2) |
The registrar may call upon any applicant which has applied for registration under subsection (1) to furnish him or her with any further information which is relevant to the application. |
| (3) |
If the registrar is satisfied that the— |
| (a) |
deed which the applicant proposes to prepare for the purposes of the collective investment scheme in securities does not contain anything inconsistent with this Act; and |
he or she must, subject to subsection (4) and on such conditions as he or she may determine, register the applicant as a manager and issue to it a certificate of registration in the form determined by the registrar.
| (4) |
The registrar may not register any company as a manager under this section unless he or she is satisfied that— |
| (a) |
such company complies with subsection (3); |
| (b) |
such company is fit to assume the duties and responsibilities of a manager; and |
| (c) |
the registration of such company as a manager will be in the public interest. |
| (5) |
The registrar may, after the registration of a company as a manager, on application by the manager or on the registrar's own initiative, withdraw or amend any condition or restriction in respect of the registration if the registrar is satisfied that any such withdrawal or amendment is justified and will not prejudice the interests of investors. |
[Subsection 5 inserted by section 222 of Act No. 45 of 2013]
Contingency Fees Act, 1997
