Basic Conditions of Employment Act, 1997
R 385
Securities Services Act, 2004 (Act No. 36 of 2004)Chapter IV : Custody and Administration of SecuritiesNominee36. Approval of nominee |
| (1) | A nominee of— |
| (a) | an authorised user must be approved by the exchange in terms of exchange rules; |
| (b) | a participant, or any other nominee who has an account with a participant, must be approved by the central securities depository in terms of depository rules. |
| (2) | A nominee that is not approved as a nominee in terms of subsection (1) must be approved by the registrar and must comply with the requirements which the registrar may prescribe for nominees before it can function as a nominee in terms of this Act. |
| (3) | The registrar must maintain a list of all nominees approved in terms of exchange rules or depository rules. |
