Regulatory Alerts2018-03-31
Added · Updated
Information Circular 7 of 2013: Exemption from Prescribed Fees for Street Name Address Changes
The Financial Services Board of South Africa exempts pension funds from paying prescribed regulatory fees for rule amendments that solely update a fund's registered address following a street name change. This fee waiver applies exclusively to address modifications and explicitly excludes any other proposed rule alterations, additions, or rescissions submitted to the registrar. Funds proposing amendments beyond the street name address update must continue to pay the standard prescribed fees as mandated by Regulation 24(a)(iv) of the Pension Funds Act regulations.
FINANCIAL SERVICES BOARD
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: | Alta Marais | D. DIALLING NO.: | 012 428 8065 |
|---|---|---|---|
| OUR REF: | 12/12/1 | FAX: | 012 346 6510 |
| DATE: | 18 December 2013 | E-MAIL: | alta.marais@fsb.co.za |
INFORMATION CIRCULAR PF NO. 7 OF 2013
PENSION FUNDS ACT, 24 OF 1956
PAYMENT OF PRESCRIBED FEES IN TERMS OF REGULATION 24(a)(iv) FOR
ALTERATION OF RULES BROUGHT ABOUT BY STREET NAME CHANGES
In terms of section 2(5)(a) of the Pension Funds Act, 1956 ('PFA') pension funds are hereby exempted from the requirement to pay the prescribed fee required by regulation 24(a)(iv) of the regulations published by the Minister in terms of section 36 of the PFA where the proposed rule amendment only alters the registered address of a fund as a result of a change in street name.
This exemption does not apply to any other submissions of proposed rule amendments which are intended to alter, add or rescind fund rules in terms of section 12 of the PFA. The prescribed fee must be paid if the proposed rule amendments submitted to the registrar of pension funds alter, add or rescind any other rules apart from, or in addition to, the alteration of the registered address of a fund as a result of a street name change.
Yours faithfully
DP TSHIDI
REGISTRAR OF PENSION FUNDS
Board Members: AM Sithole (Chairperson) H Wilton (Deputy Chairperson) Z Bassa JV Mogadime
Prof PJ Sutherland FE Groepe D Turpin HMH Ratsefola D Msomi I Mornoniat O Makhubela (Alternate)
Executive Officer: DP Tshidi
SABS
ISO 9001
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