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Companies Act, 2008 (Act No. 71 of 2008)

Chapter 2 : Formation, Administration and Dissolution of Companies

Part E : Securities registration and transfer

52. Registration of uncertificated securities

 

 

1) At the request of a company, and on payment of the prescribed fee, if any, a participant or central securities depository, as determined in accordance with the rules of the central securities depository, must furnish that company with all details of that company’s uncertificated securities reflected in the uncertificated securities register.

 

2) A person who wishes to inspect an uncertificated securities register may do so only—
a) through the relevant company in terms of section 26; and
b) in accordance with the rules of the central securities depository.

 

3) Within five business days after the date of a request for inspection, a company must produce a record of the uncertificated securities register, which record must reflect at least the details referred to in section 50(3)(b) at the close of business on the day on which the request for inspection was made.

 

4) A participant or central securities depository, determined in accordance with the rules of the central securities depository—
a) must provide a regular statement at prescribed intervals to each person for whom any uncertificated securities are held in an uncertificated securities register, setting out the number and identity of the uncertificated securities held on that person’s behalf;
b) must not impose a charge for a statement on the person entitled to the statement; and
c) may impose a charge or service fee for such a statement on the relevant company in accordance with the regulations.

 

5) The regulations contemplated in section 49(7) may provide for a charge or service fee for statements contemplated in subsection (4)(c).