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

General Exemption : Level 1 Regulatory Examination

2. Extent of exemption and condition

 

 

1) A provider is exempted from section 10 of the Determination of Fit and Proper Requirements to the extent reference is made to the first level regulatory examination provided that the provider successfully complete the first level regulatory examination by-
a) 30 June 2012; or
b) 30 September 2012 subject to the condition that the provider must, on or before 30 June 2012, have had written the first level regulatory examination and have failed to successfully complete it.

 

3) This exemption shall, subject to paragraph 3, be valid until 30 September 2012.