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

Part XII : General

89. Obligation of manager to maintain capital requirement and failure to comply

 

(1) A manager may not be registered or allowed to continue as a manager, unless at the time of registration and at all times thereafter the manager has nett assets in liquid form which exceed the minimum capital requirement determined under section 88.

 

(2) A manager who, immediately before the commencement of this Act, was a management company registered under any law repealed by this Act, must within 60 days after such commencement comply with the capital requirement determined under section 88.

 

 


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