Files
| Attachment | Size |
|---|---|
| act104of1993.pdf | 3.01 MB |
104 of 1993
The Financial Institutions Second Amendment Act 104 of 1993 intends:
- to amend the Insurance Act, 1943 [repealed in 1999], so as
- to amend or delete certain defmitions;
- to further regulate the provisions relating to the statement of assets, and relating to assets to be held by insurers;
- to regulate anew the duties of intermediaries in respect of the payment to insurers of moneys received in respect of premiums;
- to prohibit certain inducement to take out policies;
- to further regulate insurance by members of Lloyds;
- to delete the requirements in respect of licences;
- to amend the provisions in respect of penalties; and
- to further regulate the listed securities which may be taken into account as insurance assets;
- to amend the Pension Funds Act, 1956, so as
- to amend a certain definition;
- to further regulate the rules of pension funds;
- to exclude arrear contributions from deductions which are prohibited; and
- to further regulate certain death benefits;
- to amend the Friendly Societies Act, 1956, so as to amend or delete certain definitions;
- to amend the Unit Trusts Control Act, 1981 [repealed in 2003], so as
- to amend certain definitions;
- to provide that certain existing management companies may be exempted from compliance with increases in minimum capital requirements;
- to provide for the inclusion of derivative instruments in a unit portfolio;
- to further regulate the appointment of auditors of a management company; and
- to regulate anew the listing of units by a stock exchange;
- to amend the Participation Bonds Act, 1981 [repealed in 2003], so as to delete the requirement that the registrar approves the cession of rights in a participation mortgage bond where the purpose of such cession is to secure a debt;
- to amend the Stock Exchanges Control Act, 1985 [repealed in 2005], so as
- to delete certain definitions; and
- to provide for the admission of members of a financial market referred to in the Financial Markets Control Act, 1989, to restricted membership of a stock exchange;
- to amend the Financial Markets Control Act, 1989 [repealed in 2005], so as
- to define a certain expression; and
- to further regulate the matters included in the rules of a financial exchange;
- to amend the Financial Services Board Act, 1990, so as
- to amend a certain definition;
- to make further provision in relation to the disqualification of persons as members of the board; and
- to further regulate the annual report of the board;
- to amend the Safe Deposit of Securities Act, 1992, [repealed in 2005] so as
- to amend a certain definition; and
- to provide for the payment of certain fees;
- to provide in certain of the above-mentioned Acts, for reporting to the Minister;
- to provide in all of the above-mentioned Acts, for the rectification of outdated references; and
- to provide for matters connected therewith.
Amends
Friendly Societies Amendment Act 44 of 1988
Commencement
- 1 January 1997, Section 5 (Gazette 17657 of 13 December 1996)
- 15 December 1993, Sections 14-18, 21-23, 25-28(b) and 29 (Gazette 15309 of 10 December 1993)
- 1 July 1993, except Sections 5, 24 and 46 (Gazette 14930 of 1 July 1993)
