Regulatory Alerts2023-09-07
Added · Updated
Unit Trusts Control Act 54 of 1981
The South African Parliament issued this Act to consolidate and regulate the establishment, management, and control of unit trust schemes in securities. It mandates that only registered management companies may operate these schemes, requiring them to maintain prescribed capital levels, adhere to strict financial and operational standards, and submit regular accounts. The legislation further empowers the Registrar of unit trust companies to inspect operations, cancel or suspend registrations for non-compliance, and enforce penalties while defining permissible securities, trustee qualifications, and disclosure requirements.
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