Income Tax Act, 1962 (Act 58 of 1962)
Chapter III: General Provisions
Part I: Returns
70B. Return of information in respect of financial instruments administered by portfolio administrators (Repealed)
[Repealed by the Tax Administration Act, 2011 (Act No. 28 of 2011)].
|1)||Every person who administers a portfolio of financial instruments, on behalf of any other person and has the mandate of that other person to buy and sell any such financial instruments on such other person’s behalf, shall furnish to the Commissioner an annual return in such form and within such time and containing such information as the Commissioner may prescribe.|
|2)||Subsection (1) shall not apply in respect of—|
|a)||any pension fund, pension preservation fund, provident fund, provident preservation fund or retirement annuity fund; or|
|b)||any insurer contemplated in section 29A, in respect of any financial instruments of any person in that person’s capacity as policyholder.|
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