Information Circular No 4 of 2018: Clarification on Directive PF No 8 Prohibiting Gratification

Board Members: AM Sithole (Chairperson) H Wilton (Deputy Chairperson) Z Bassa JV Mogadime Prof PJ Sutherland FE Groepe D Turpin HMH Ratshefola D Msomi I Momoniat Executive Officer: DP Tshidi Riverwalk Office Park Block B 41 Matroosberg Road Ashlea Gardens Extension 6 Pretoria South Africa 0081 PO Box 35655 Menlo Park Pretoria South Africa 0102 Tel +27 12 428 8000 Fax +27 12 346 6941 E-mail info@fsb.co.za Toll free 0800 110443/0800 202087 website:www.fsb.co.za ENQUIRIES: Corlia Buitendag D. DIALLING NO.: 012 428 8030 OUR REF: 12/12/25 FAX: DATE: 22 March 2018 E-MAIL: Corlia.Buitendag@FSB.co.za INFORMATION CIRCULAR PF NO. 4 OF 2018 URGENT CLARIFICATION ON THE EFFECTIVE DATE OF DIRECTIVE PF NO. 8: PROHIBITION ON THE ACCEPTANCE OF GRATIFICATION Reference is made to Directive PF No 8: Prohibition on the Acceptance of Gratification, which was issued on 8 March 2018 (‘the Directive’). Following queries received, the following should be noted:

1. The Directive is effective from 8 March 2018.
2. Commitments which were entered into prior to 8 March 2018 and which are prohibited by the Directive should be withdrawn or declined by the regulated persons or entities, where possible.
3. If it is not possible to withdraw or decline such prior-commitments, the regulated persons or entities can honour such prior-commitments. This should not be interpreted as the FSB endorsing the prohibited action, but should be seen within the context of the effective date being 8 March 2018. Yours sincerely OLANO MAKHUBELA DEPUTY REGISTRAR OF PENSION FUNDS