Public Service Commission Act, 1997
R 385
Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)Board NoticesRules for the administration of a collective investment scheme in participation bonds15. Rights of participants: recovery of debts |
Notwithstanding rule 14 a participant may, in respect of a participation bond, instruct the manager to take all the necessary steps, through and in the name of the nominee company, to recover from the mortgagor such portion of the principal debt as is necessary to repay, in full, the participatory interest of such participant in such bond: Provided that a participant may only so instruct the manager if the mortgagor has failed to comply with the conditions of the bond.
