Financial Institutions Amendment Act 99 of 1967

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99 of 1967

The Financial Institutions Amendment Act 99 of 1967 intends:

  • to amend sections 19 and 22 of the Unit Trusts Control Act, 1947 [repealed in 1981], so as to abolish rounding-off accruals to the made-up prices of units and to limit the initial charges on the made-up prices of units;
  • to amend section 28 of the Building Societies Act, 1965 [repealed in 1994], so as to make provision for extending the period after the expiry of which subscription shares shall mature; and
  • to suspend section 36 (1) of the Building Societies Act, 1965 [repealed in 1994].

Commencement

30 June 1967

Amendments

Amended by Mutual Banks Act 124 of 1993

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