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Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002)

Chapter II : Authorisation of Financial Services Providers

12. Exemptions in respect of product suppliers

 

 

1) The registrar may exempt a product supplier who is authorised or approved under a particular law to conduct business as a financial institution, and who is required to apply for authorisation under section 8, from submitting some or all of the information otherwise required from an applicant: Provided that the product supplier –
a) applies for exemption when submitting the application; and
b) complies with the requirements of the registrar with regard to information still required.

 

2) Authorisation granted to a product supplier contemplated in subsection (1) is supplementary to, but separate from, the supplier's authorisation or approval under a particular law as a financial institution .