RegAlertRule · FSCA · 1 Apr 2018
Circular F.S. 12: Amendment to Circular F.S. 11 on Foreign Government Securities Held by Friendly Societies
Circular F.S. 11 of 31 July 1979 is amended by substituting paragraph 2.1(b). For any friendly society, the aggregate amount of bills, bonds and securities issued by governments of territories other than the Republic of South Africa, and by local authorities and institutions in such territories, excluding those issued by the Government of the Republic of Transkei and by local authorities and institutions in the Republic of Transkei, that rank as assets under section 20(2) of the Act must not exceed 1½% of the minimum amount the society is required to hold in such assets. A copy is enclosed for the auditor, whose signed acknowledgement form must also be returned.
FINANCIAL INSTITUTIONS OFFICE
Private Bag X238
PRETORIA
0001
12 November 1979
CIRCULAR F.S. 12
(To all friendly societies)
1. Circular F.S. 11 of 31 July 1979 is hereby amended by the substitution for subparagraph (b) of paragraph 2.1 of the following subparagraph:
"(b) the aggregate amount of the bills, bonds and securities issued by the governments of all territories other than the Republic of South Africa and by local authorities and institutions in such territories (excluding the aggregate amount of bills, bonds and securities issued by the Government of the Republic of Transkei and by local authorities and institutions in the Republic of Transkei), which rank as assets of the kinds referred to in section 20(2) of the Act for any friendly society, shall not exceed 1½% of the minimum amount which the friendly society is required to hold in the said kinds of assets."
2. A copy of this circular is enclosed for your auditor. Kindly have the attached acknowledgement form signed by him also before returning it to this Office.
REGISTRAR OF FRIENDLY SOCIETIES
/MEB
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- Amends
“Circular F.S. 11 of 31 July 1979 is hereby amended by the substitution for subparagraph (b) of paragraph 2.1 of the following subparagraph:”
Timeline
This document amends: Circular F.S. 11: Approvals under the Friendly Societies Act, 1956
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