Regulatory Alerts2018-04-01
Circular F.S. 22: Approval of Additional Security Issue Under the Friendly Societies Act, 1956
The Registrar of Friendly Societies in South Africa has approved the issuance of R50 million in South African Transport Services Local Registered Stock for investment by friendly societies under Section 20(2)(h) of the Friendly Societies Act, 1956. This approval updates the official list of permissible securities previously established in Circular F.S. 9 of 1977. Friendly societies must ensure their auditors review the circular and return a signed acknowledgement form to the Financial Institutions Office.
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