Information Circular 6 of 2008

FINANCIAL SERVICES BOARD Rigel Park 446 Rigel Avenue South Erasmusrand Pretoria 0181 South Africa PO Box 35655 Menlo Park Pretoria 0102 South Africa Tel +27 12 428 8000 Fax +27 12 347 0221 E-mail info@fsb.co.za Toll free 0800 I 10443 Internet http://www.fsb.co.za (To all approxed administrators, privately administered funds and insurers who undewrite pension funds) INFORMATION CIRCULAR NO. 6 OF 2008 EMSION FUNDS ACT, ACT 24 OF 1956 ("THE ACT") ON OF FiNAAIcIAt STA7fl#ENT$ AND VA . &PpLkcATWS FOR fXTfWWM M TERMS OF 8-N 33 $TRbTM PEMALTlES INTRODUCTION

1. This Circular takes effect on the date of issue.
2. Circular PF No. 91 and Information Circulars No. 2 of 2006, No. 5 of 2006, No. 7 of 2006, No. 3 of 2007, No. 4 of 2007, No. 5 of 2007, No. 13 of 2007 and No. 1 of 2008 are hereby withdrawn. EXTENSIONS
3. Due to a significant nurr~ber of requests for extensions motivated by, inter aha, difficulties around administrative difficulties, unavailability of trustees to certify the financial statements and the shortage of audit resources, the Registrar hereby grants extension, in terms of section 33(2), for the submission of signed financial statements until the relevant dates as set out in column 3 of the table below, on condition that the unsigned annual financial statements are submitted on or before the relevant date set out in column 2 of the table below: Board Members Dr CDR Rustomjee (Chairperson) Mr AM Sithole (Deputy Chairperson) Mr BM Hawksworth Ms H Wilton Prof PJ Sutherland Ms JV Mogadime Ms T Mokgabudi Prof M Ncube Ms Z Bassa Ms M Phetla-Lekhethe Executive Officer Mr DP Tshidi 6RB6

3.1 Submission of annual financial statements: 3.2 Submission of statutory valuation reports In terms of section 33(2), extension for the submission of the statutory valuation report, which date coincides with the relevant fund's *financial year￾end date, is hereby granted, in terms of which the statutory valuation report must be submitted within 6 months after the extension date for the submission of the relevant signed financial statements. Date for submission of signed financial statements: 28th ~ebruary 2009 3oth ~une 2009 31' August 2009 3oth September 2009 31" October 2009 30th ~ovember 2009 Financial Year End 2006 2007 January to March 2008 April to June 2008 July to September 2008 October to December 2008 3.3 Submission of section 14 applications Date for submission of unsigned, financial statements: 31S' October 2008 31S' March 2009 31" May 2009 30 June 2009 31" July 2009 31" August 2009 3.3.1 In terms of section 33(2), extension is granted until 28 FEBRUARY 2009 in respect of the relevant periods for the submission of section 14(l)(a) applications, as well as for the transfer of assets and liabilities under section 14(8)(iii). 3.3.2 On the submission of the relevant section 14 in respect of which a fund utilised the extension granted in paragraph 3.3, the following information must be submitted together with the relevant application for a transfer in terms of section 14: 3.3.2.1 well-founded reasons for the delay; 3.3.2.2 updated transfer values; and 3.3.2.3 a declaration from the Principal Officer that no prejudice was suffered by any of the affected and lor remaining members as a result of the delay. 4. Applications for extensions beyond the dates set out in paragraph 3 Should any fund require any further extensions, the procedure is as follows: 4.1 The application must be submitted in the prescribed format, attached hereto as Form I or Form II, and must be received by the Registrar on or before the relevant due date for the submission of the return or such other information;

4.2 The application form which is available on www.fsb.co.za, must be submitted electronically; 4.3 Where a fund wishes to apply for extension in respect of different types of returns, individual application requests must be submitted; 4.4 The request must be signed by the Principal Officer and a duly authorised official of the Board of a Fund, or the authorised representative appointed by the Registrar in terms of Circular PF No. 126 to be attached to the electronic submission; 4.5 Where an extension is granted in terms of paragraph 3 above, the applicant will be allocated an FSB case number, which case number must be quoted when the relevant submission is finally made; NO'TIFICATION OF INTENT TO IMPOSE ADMINISTRATIVE PENALTIES ON LATE SUBMISSION OF RETURNS 5. In terms of section 37(3) of the Act, notification is hereby given of the Registrar's intention to impose an administrative penalty of R50 per day for the late submission of any return after the expiration of the relevant extension dates granted in paragraph 3 above. 6. The computation of administrative penalties in respect of the 2006, 2007 and 2008 financial year-ends will be as follows: 6.1 In respect of the late submission of the unsigned financial statements beyond the extension date as per paragraph 3.1 above, the penalty will be calculated up to the date of submission thereof. 6.2 In respect of the late submission of ,the signed financial statements beyond the extension date as per paragraph 3.1 above, ,the penalty will be calculated from the extension date to the submission date. 6.3 In respect of a failure to submit or the late submission of the both unsigned and signed financial statements beyond the extension dates, as per paragraph 3.1 above, the penalty will be calculated from the date on which the unsigned financial statements were due. Yours faithfully DEPUTY EXECUTIVE OFFICER AND DEPUTY REGISTRAR OF PENSION FUNDS

REQUEST FOR EXTENSION IN TERMS OF SECTION 33 OF THE PENSION FUNDS ACT, ACT 24 OF 1956 EXTENSIONS OTHER THAN SECTION 14 APPI-ICATIONS

1. The.. ............................................................................ Fund (reference no.: 12/81 ..................... ) is hereby applying, in terms of section 33 of the Act, to extend the following period indicated below: *Delete the rows from the table that are not applicable to the extension request. 1 18 months ( Section 15B(l)(b) 1 Actuarial I I 1 1 Date until Section of the Due date: extension is 6 months 18 months 3 months Section 18(1) Actuarial I Section 15(1) 3 months 12 months Pensions Prudential Section 15B Notes: Actuarial Section 15K(2) Section 16(1) other1

2. Details to be provided

3. Both the date in respect of which the extension is applied for, the due date of the submission as well as the date until which extension is required must be completed Actuarial Actuarial Indicate the party responsible for the delay: the Conditions made under BN 24 of 2002 ....................................................................................................................................... Motivation for the extension request: Licensing and Registration

4. Should the application be made in terms of section 33(2), kindly indicate the s~ecial circumstances relevant to this request:

5. Where extensions are required for the period in terms of sections 15(1) of the Act, the following needs to be included in the submission: a. Are there any contributions in arrears in terms of section 13A? If so, kindly provide details: b. Does the Fund have adequate fidelity cover? Kindly provide this office with the expiry date of such policy. ............................................................................................................................ (Delete if not applicable) PRINCIPAL OFFICERIAUTHORISED REPRESENTATIVE MEMBER OF THE BOARD FULL NAME IN PRINT FULL NAME IN PRINT DATE DATE

FORM II REQUEST FOR EXTENSION IN TERMS OF SECTION 33 OF THE PENSION FUNDS ACT, ACT 24 OF 1956 SECTION 14 APPLICATIONS PF No: ..................... Fund name: Transferor fund 12/81 Transferee fund 12/81 Transfer Values: R Effective date Date of request Numbers transferring: ........ Active members ......... Pensioners ....... Deferred pensioners The Fund is applying, in terms of section 33 of the Act, to extend the period indicated below: (Please note that the Registrar requires the due date as well as the date until which extension is required.) Period Section of the Act Date on which period Extension date applied expired: for 180-days Section 14(l)(a) 60-daysr Section 14(2)(b) 180-days Section 14(8)(b)(iii) Indicate the party responsible for the delay: Motivation for the extension request: ......................................................................................................................................... ......................................................................................................................................... ......................................................................................................................................... Declaration of no prejudice suffered: r An application is required by both the transferor and the transferee fund in this case.

Should the application be made in terms of section 33(2), kindly indicate the s~ecial circumstances relevant to this request: On behalf of transferee fund: PRINCIPAL OFFICERIAUTHORISED REPRESENTATIVE MEMBER OF THE BOARD FULL NAME IN PRINT FULL NAME IN PRINT DATE DATE On behalf of transferror fund: PRINCIPAL OFFICERIAUTHORISED REPRESENTATIVE MEMBER OF THE BOARD FULL NAME IN PRINT FULL NAME IN PRINT DATE DATE