| a) |
investigate any matter relating to insider trading, including but not limited to, insider trading in terms of this Act and section 440F of the Companies Act, 1973; |
| b) |
institute such proceedings as are contemplated in this Act; |
| c) |
administer the proof of claims and distribution of payments in terms of section 6; |
| d) |
summon any person who is believed to be able to furnish any information on the subject of any investigation or to have in his or her possession or under his or her control any book, document or other object which has bearing upon that subject, to lodge such book, document or other object with the Financial Services Board, or to appear at a time and place specified in the summons, to be interrogated or to produce such book, document or other object; |
| e) |
interrogate any such person under oath or affirmation duly administered, and examine or retain for examination any such book, document or other object: Provided that any person from whom any book, document or other object has been taken and retained under this subsection shall, so long as such book, document or object is in possession of the Financial Services Board, at his or her request be allowed, at his or her own expense and under the supervision of the person in charge of the investigation, to make copies thereof or to take extracts therefrom at any reasonable time; |
| f) |
in relation to a matter investigated in terms of paragraph (a), on the authority of a warrant, at any time without prior notice-- |
| i) |
enter any premises and require the production of any document; |
| ii) |
enter and search any premises for any documents; |
| iii) |
open any strongroom, safe or other container which it suspects contains any document; |
| iv) |
examine, make extracts from and copy any document or, against the issue of a receipt, remove such document temporarily for that purpose; |
| v) |
against the issue of a receipt, seize any document; |
| vi) |
retain any seized document for as long as it may be required for criminal or other proceedings, |
but the Financial Services Board may proceed without a warrant, if the person in control of any premises consents to the actions contemplated in this paragraph;
| i) |
concerning the administration of this Act by the Financial Services Board and the Directorate; |
| ii) |
concerning the manner in which investigations in terms of this Act are to be conducted; |
| iii) |
concerning the notification of amounts received in terms of section 6, the procedure for the lodging and proof of claims, the administration of trust accounts and the distribution of payments in respect of claims; |
| iv) |
concerning meetings of the Directorate; and |
| v) |
which are generally designed to ensure that the Financial Services Board and the Directorate are able to perform their functions in terms of this Act; |
| h) |
make rules or guidelines dealing with the manner iii which inside information should be disclosed and, generally, with the conduct expected of persons with regard to such information; |
| i) |
in consultation with the relevant regulated markets in the Republic, require such markets to implement such systems as are necessary for the effective monitoring and identification of possible contraventions of this Act. |
| a) |
A warrant contemplated in subsection (2)(f) may be issued, on application of the Financial Services Board, by a judge or magistrate who has jurisdiction in the area where the premises in question are located. |
| b) |
Such a warrant may only be issued if it appears from information under oath that there is reason to believe that a document relating to the matter being investigated in terms of subsection (2)(a), is kept at the premises in question. |
| c) |
Any person from whom a document has been seized under subsection (2)(f), or his or her authorised representative, may examine such document and make extracts therefrom under the supervision of the Financial Services Board during normal office hours. |
| 4) |
Notwithstanding subsection(1)-- |
| a) |
the power to institute any civil proceedings under this Act vests in the Directorate; |
| b) |
no rule may be made or amended without the prior consent of the Directorate; |
| c) |
the Directorate shall also have the powers contemplated in subsection (2)(d), (e) and (f). |
| 5) |
The Financial Services Board may, subject to such conditions as it may determine, delegate the power to investigate an alleged contravention of this Act to such person as it deems fit and such person shall have the powers set out in subsection (2)(d), (e) and (f); |
| 6) |
The Financial Services Board shall cause the publication in the Gazette of a notice of any proposed rule or amendment of a rule, calling upon all interested persons who have any objections to the proposed rule or amendment, to lodge their objections with the Financial Services Board within a period of 30 days from the date of publication of the notice. |
| 7) |
If there are no such objections or if the Financial Services Board has, in consultation with the Directorate, considered the objections and has decided to introduce the proposed rule or amendment in the form published in the Gazette, the rule shall come into effect on the expiry of a period of 10 days after the last date on which objections could have been lodged in terms of the notice. |
| 8) |
If the Financial Services Board has, after considering such objections, decided in consultation with the Directorate to amend the proposed rule, subsections (6) and (7) shall apply to such amendment. |
| 9) |
Any rule, but not a guideline, made under subsection (2) shall be binding on all members of the public. |
| 10) |
In the event of the Attorney-General declining to prosecute for an alleged offence in terms of this Act, the Financial Services Board may prosecute in respect of such offence in any court competent to try that offence and the provisions of section 8(2) and (3) of the Criminal Procedure Act, 1977 (Act No. 51 of 1977), shall not apply. |
| 11) |
Aside from its other duties the Financial Services Board shall, at the request of the Directorate, be obliged to investigate any matter and summon and interrogate any person in respect of the matters referred to in subsection (2)(a), (d) and (e). |
Stamp Duties Act, 1968 (Act 77 of 1968)
