Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002)
Financial Advisory And Intermediary Services Regulations, 2003
Chapter V : Matters relating to Administrative and Discretionary FSPs (Section 35(1)(d) and (e) of Act)
12. Construction of certain references
A reference in any law or document to an independent custodian, an investment manager or a linked investment services provider (LISP) must, unless clearly inappropriate or inconsistent with a provision of the Act, be construed as a reference to an independent nominee, a discretionary F SP and an administrative FSP, respectively.