Protection of Businesses Act, 1978
R 385
Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)NoticesDetermination of Fit and Proper Requirements and Conditions for Managers of Collective Investment Schemes6. Financial Soundness of Manager |
| (1) | A manager and its shareholder(s) must not be under liquidation or provisional liquidation. |
| (2) | The assets of any shareholder (direct and/or indirect) of the manager as well as that of the manager must exceed the liabilities of the shareholder or manager, as the case may be. In addition, the manager must also comply with the capital requirements as determined in sections 4(3), 88 and 89 of the Act. |
