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

Board Notices

Determination of Securities, Class of Securities, Assets or Classes of Assets that may be included in a portfolio of a Collective Investment Scheme in Securities and the manner in which and the limits and conditions subject to which Securities or Assets may be so included

Chapter l : Standard Portfolio

2. Application of Chapter

 

(1) For the purposes of this Chapter—

 

"investment company"

means a company that is engaged primarily in the business of investment in the securities of companies for the purpose of revenue and profit and not for the purpose of exercising control;

 

"securities"

means—

(a)

(i) shares, preference shares, whether redeemable, convertible or perpetual and exchange depository receipts in public companies, whether listed or not;
(ii) listed participatory interests in a collective investment scheme in property;
(iii) participatory interests in a collective investment scheme in securities, whether listed or not,
(iv) bonds, debentures, debenture stock and debenture bonds,
(v) notes, whether secured or not, and whether or not they have inherent option rights or are convertible;
(vi) Islamic bonds (Sukuks); and
(vii) Islamic compliant instruments.
(b) the following listed financial instruments, subject to the conditions set out in Chapter V of this Notice—
(i) a futures contract;
(ii) an option contract;
(iii) a warrant;
(iv) an index tracking certificate;
(v) an instrument based on any underlying asset or basket of underlying assets as defined in Chapter V of this Notice, other than an Islamic Bond (Sukuk) or an Islamic Compliant Instrument;
(c) the following unlisted financial instruments, subject to the conditions set out in Chapter V of this Notice:
(i) forward currency swap;
(ii) forward currency option issued by a bank;
(iii) interest rate swap;
(iv) exchange rate swap; and
(v) index swap;
(d) any asset referred to in the definition of "assets in liquid form" in paragraph 1 of this Notice; or
(e) any "money market instrument" as determined in paragraph 5 of this Notice.

 

(2) This Chapter applies to a portfolio that consists of securities referred to in the definition of "securities" in sub-paragraph 2(1) but does not apply to any portfolio specifically dealt with in Chapters ll, lll, and lV of this Notice.

 

 


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