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

Companies Regulations, 2011

Chapter 1 : General Provisions

Part B : Guidelines, Practice Notes, Forms, Notices and other documents

4. Issuing of Guidelines and Practice Notes

 

 

See section 188 (2)(b) and section 201 (2)(b)

 

(1) In this regulation—
(a) "Guideline" means a document issued by a regulatory agency with respect to a matter within its authority, which sets out recommended procedures, standards or forms reflecting that regulatory agency's advice as to what constitutes best practice on a matter; and
(b) "Practice Note" means a document issued by a regulatory agency with respect to a matter within its authority, which sets out—
(i) a procedure that will be followed by that regulatory agency; or
(ii) a procedure to be followed when dealing with that regulatory agency; or
(iii) that regulatory agency's interpretation of, or intended manner of applying, a provision of the Act or these regulations.

 

(2) The senior officer of a regulatory agency may—
(a) issue a Guideline at any time by publishing a notice of the Guideline to the general public in the Gazette, any generally circulated newspaper, on the regulatory agency's website, or by any similar means of providing information to the public generally; or
(b) issue a Practice Note at any time by publishing it in the Gazette, and may amend or withdraw any such Practice Note at any time by subsequent notice in the Gazette.

 

(3) A Guideline or Practice Note must be consistent with the Act and these regulations, and a provision of the Act or these regulations prevails if there is any inconsistency between that provision and any such Guideline or Practice Note.

 

(4) A regulatory agency must—
(a) maintain a notice on its website of the existence of every Guideline or Practice Note that it has published and not withdrawn;
(b) provide for copies of every Guideline or Practice Note to be freely accessed or printed from its website; and
(c) provide a printed copy of any Guideline or Practice Note freely to any person upon request.