Municipal Demarcation Act, 1998
R 385
Securities Services Act, 2004 (Act No. 36 of 2004)Chapter III : ExchangesFunctions of exchange17. Funds of exchange |
| (1) | An exchange may require its authorised users and their clients to contribute towards the funds of the exchange for the purpose of carrying on the business of the exchange. |
| (2) | If an exchange has assets which are surplus to its requirements it may distribute such assets to any person— |
| (a) | after providing for any liabilities of the exchange; |
| (b) | in accordance with its founding documents; and |
| (c) | with the written consent of the registrar. |
| (3) | If an exchange is a non-proprietary exchange, the distribution referred to in subsection (2) may be made despite contrary provisions of any law or the common law and without affecting the non-proprietary status of the exchange. |
