Stamp Duties Act, 1968 (Act 77 of 1968)
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 bonds29. Electronic and telephonic transacting |
| (1) | The manager may allow for transacting via electronic and telephonic means, subject to sub-rules (2) and (3) and the consent of the participant or a prospective participant. |
| (2) | If the participant consents to electronic or telephonic transacting, the participant must be fully apprised in the initial application form used for electronic and telephonic transacting and in all application forms posted on the manager's website, of the conditions of electronic and telephonic transacting. |
| (3) | Such application forms must at least provide for— |
| (a) | the procedure to effect electronic or telephonic transacting and the costs involved; |
| (b) | the procedure for registration of an electronic or telephonic transaction; |
| (c) | the legal implications of such a transaction for the participant; |
| (d) | all disclaimers by the manager; |
| (e) | any limitation of liability afforded to the manager; |
| (f) | the security risks and risk of interception inherent to electronic and telephonic transacting; |
| (g) | related precautionary or security measures; |
| (h) | confirmation to participants that telephone calls are recorded and that such records are retained for a period of five years; |
| (i) | confirmation by the manager that its website complies with relevant legislative requirements applicable in the Republic; |
| (j) | a warning that taxation of other jurisdictions is not taken into account; |
| (k) | a warning that information contained on the website does not constitute advice. |
| (4) | The terms and conditions under which electronic or telephonic transacting is done must be displayed on screen or verbally communicated, as the case may be. |
