| (1) |
The registrar, for purposes of this Act, by notice in the Gazette—
|
(a) must—
| (i) |
classify financial services providers into different categories; |
| (ii) |
determine fit and proper requirements for each category of providers; and |
| (iii) |
in each category of providers determine fit and proper requirements for— |
| (aa) |
key individuals of providers; |
| (bb) |
representatives of providers; |
| (cc) |
key individuals of representatives of providers; and |
| (dd) |
compliance officers; and |
| (aA) |
may classify representatives into different categories; and |
[Section 6A(1)(aA) inserted by section 290, item 7(b) in Schedule 4, of Act No. 9 of 2017 - effective 1 April 2018 (paragraph (h) of Notice 169 of 2018)]
| (b) |
may determine fit and proper requirements for providers, key individuals, representatives, key individuals of representatives and compliance officers in general. |
| (2) |
Fit and proper requirements may include, but are not limited to, appropriate standards relating to— |
| (a) |
personal character qualities of honesty and integrity; |
| (b) |
competence, including— |
| (iii) |
knowledge tested through examinations determined by the registrar; |
| (d) |
financial soundness; and |
| (e) |
continuous professional development. |
| (3) |
Different fit and proper requirements may be determined for providers, representatives and compliance officers that are natural persons and for those that are partnerships, trusts or corporate or unincorporated bodies. |
| (4) |
The registrar may, by notice in the Gazette, amend the fit and proper requirements from time to time, and a provider, key individual, representative, key individual of a representative and compliance officer must comply therewith such period as determined by the registrar. |
[Section 6A inserted by section 180 of Act No. 45 of 2013]
Superior Courts Act, 2013
