Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002)
Specific Code of Conduct for Authorised Financial Services Providers and Representatives conducting Short-term Deposit Business, 2004
Part l : Introductory Provisions
In this Code "the Act" means the Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 20021, a word or expression to which a meaning has been assigned in the Act shall have that meaning, and, unless the context indicates otherwise—
in relation to a provider, means any written, printed, electronic or oral communication (including a communication by means of a public radio service) which is directed to the general public, or any section thereof, or to any client on request, by a provider, which is intended merely to call attention to the marketing or promotion of short-term deposit business offered by the provider, and which does not purport to provide detailed information regarding any such business; and “advertising” or “advertises” has a corresponding meaning;
means a client in respect of short-term deposit business;
means a financial product referred to in the definition of “short-term deposit business”;
means an authorised financial services provider which is a bank as defined in the Banks Act, 1990 (Act No. 94 of 1990), or a mutual bank as defined in the Mutual Banks Act, 1993 (Act No. 124 of 1993), conducting short-term deposit business and includes, where appropriate, any representative of the provider;
"short-term deposit business"
in respect of a provider, means the rendering of a financial service in respect of a deposit referred to in paragraph (f) of the definition of “financial product” in section 1(1) of the Act, with a term not exceeding 12 months;
means any application, proposal, order, instruction or other contractual information required to be completed for, or submitted to, a provider by or on behalf of a client, relating to the investment in any deposit, including any amendment or variation thereof;
includes communication by telefax or any appropriate electronic medium which is accurately and readily reducible to written or printed form; and “written” has a corresponding meaning.