Securities Services Act, 2004 (Act No. 36 of 2004)

Chapter IV : Custody and Administration of Securities

Purchase

(1)	An applicant for a central securities depository licence must—

(a)	have the financial resources, and the management and human resources with appropriate experience, necessary for the operation of a central securities depository in terms of this Act;

(b)	have made arrangements for the proper supervision of compliance by participants with the depository rules;

(c)	maintain security and back-up procedures to ensure the integrity of its records.

(2)	The registrar may prescribe any of the requirements referred to in subsection (1) in greater detail.