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

Chapter VI : Clearing House

Licensing of clearing house

64. Application for clearing house licence

 

(1) A person may apply to the registrar for a licence to provide clearing house

 

(2) An application for such a licence must be services to an exchange.
(a) made in the manner and contain the information prescribed by the registrar;
(b) accompanied by—
(i) particulars of the applicant’s proposed appointment by an exchange;
(ii) the application fee prescribed by the Minister; and
(iii) such other information as the registrar may reasonably require.

 

(3) The registrar must give notice of an application for a clearing house licence in two national newspapers at the expense of the applicant. The notice must state—
(a) the name of the applicant;
(b) the period within which objections to the application may be lodged with the registrar.