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 110443 Internet http://www.fsb.co.za

ENQUIRIES:	Alta Marais	D. DIALLING NO.:	(012) 428 8065
OUR REF:	12/12/1	FAX:	(012) 347 0874
DATE:	5 December 2007	E-MAIL:	altam@fsb.co.za

(To all approved administrators, privately administered funds and insurers who underwrite pension funds)

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INFORMATION CIRCULAR 11 OF 2007

SUBMISSION OF AUDITED FINANCIAL STATEMENTS FOR FUNDS TERMINATING BY 31 OCTOBER 2008

This Circular is issued to address the practical implementation of the requirements for funds to submit audited financial statements in terms of Regulation 15 of the Regulations. As there are capacity constraints in the audit profession which have resulted in funds not submitting audited financial statements on or before the extended deadline, the Registrar has agreed to accept unaudited financial statements for funds terminating or transferring in full on or before 31 October 2008. Such funds must submit financial statements in the format set out in Annexure E or Annexure F as per Board Notice 43 of 30 May 2006.

It must however be noted that the Registrar can, without providing any specific reason, instruct any such fund to perform an audit within a reasonable period and to submit such audited financial statement to this Office.

Funds are however reminded that the annual financial period may be extended to a period not exceeding 18 months on condition that a rule amendment is submitted for registration.

The said annual financial statements referred to above, must be submitted electronically by the due date.

Please Note: This Circular should be read in conjunction with other Directives, Circulars and Information Circulars pertaining to the termination of Funds.

Yours faithfully

JURGEN BOYD
REGISTRAR OF PENSION FUNDS

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Board Members Dr CDR Rustomjee (Chairperson) AM Sithole (Deputy Chairperson) BM Hawksworth Ms JV Mogadime Ms AMM Mokgabudi Ms LM Mojela Prof PJ Sutherland Ms HS Wilton Executive Officer R.JG Barrow