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)
8. Written agreement with independent nominee
|(1)||The written agreement between the administrative FSP and its independent nominee must be approved by the registrar.|
|(2)||If the administrative FSP gives or receives notice of termination of the agreement for any reason, the FSP must at once inform the registrar thereof.|
|(3)||The administrative FSP must within 30 days after giving or receiving such notice apply to the registrar in the manner contemplated in section 3(2) of the Act, for approval of a replacement independent nominee.|
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