Regulatory Alerts2018-04-01
Financial Services Board Circular 28: Annual Levies for Friendly Societies
The Financial Services Board issued Circular 28 to mandate annual levy payments from all registered friendly societies. Each society must remit a fee calculated as R25 plus 50c per member, capped at R1,000, based on the membership count reported in the preceding financial year. Payments and accompanying documentation, including a signed calculation schedule, are due annually before 15 April and must be submitted to the Board's Pretoria office with a signed acknowledgement returned to confirm receipt.
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