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Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)

Part IX : Trustee or Custodian

71. Status of assets

 

For purposes of this Act any—

(a) money or other assets received from an investor: and
(b) an asset of a portfolio,

are regarded as being trust property for the purposes of the Financial Institutions (Protection of Funds) Act, 2001 (Act No. 28 of 2001), and a manager, its authorised agent, trustee or custodian must deal with such money or other assets in terms of this Act and the deed and in the best interests of investors.

 

 


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