Financial Markets Act, 2012
R 385
Financial Institutions (Protection of Funds) Act, 2001 (Act No. 28 of 2001)Board NoticesGuidelines on the Conduct of Curators3. General duties of curator |
| (1) | Where a curator is appointed by a court in terms of section 5(1) of the Act, the powers and duties of the curator are set out in the Court Order in accordance with section 5(5). |
| (2) | Where a curator is appointed by the registrar by agreement with the institution in terms of section 5(10) of the Act, the powers and duties of the curator are set out in the letter of appointment in accordance with section 5(11). |
| (3) | A curator, when exercising the powers and carrying out the duties set out in the Court Order contemplated in section 5(5) or in the letter of appointment contemplated in section 5(11) of the Act, must — |
| (a) | at all times exercise the powers and carry out the duties honestly, fairly, with due care, skill and diligence and in the best interest of the institution and investors; |
| (b) | with regard to the funds of, or managed or under the control of, the institution, observe the utmost good faith and exercise proper care and diligence; and |
| (c) | exercise independent judgment and objectivity in decision-making. |
