On 20 June 2014 the Financial Services Board issued amended rules for the administration of a collective investment scheme in participation bonds. This updates and amends the rules issued in 2003.
Participation bonds are investment products in underlying commercial property development assets. They are regulated under the Collective Investments Schemes Control Act, 2002.
The
The second Draft Demarcation Regulations were published by National Treasury for comment.
The draft regulations deal with the demarcation between insurance business and the business of a medical scheme. Here is our analysis of the draft regulations.
Interested parties must comment by 7 July 2014.
Comments must be sent to Ms Reshma Sheoraj at
Enacted in 2010, the US Foreign Account Tax Compliance Act (FATCA) seeks to prevent tax abuses by US persons living or operating outside of the US. FATCA imposes a 30% withholding tax on payments of US source income made to non-US financial institutions, unless they enter into an agreement with the US Internal Revenue Service
After numerous press releases about the impending release of the Coal Independent Power Producer Procurement Programme (CIPPPP), the Department of Energy (DoE) released a formal request for compulsory registration for new generation capacity under the CIPPPP on 25 June 2014.
Developers who wish to take part in this programme must register if they wish to
The IFLR1000 2014, guide to the world’s leading financial and corporate law firms, has ranked our banking and finance team Tier 1 for the 10th year in the Debt Capital Markets (DCM) category.
The guide says: “The firm’s debt capital markets practice was involved in the first bond listed by a Chinese bank on
The court had to decide the meaning of the phrase “floor covering” to determine what customs tariff applied to Terratile pitch protection tiles which are placed on top of sports fields when other events such as concerts are held in the stadium. The customs tariff item is “floor coverings of plastics, whether or not self-adhesive,
The highly regarded IFLR1000 2014, guide to the world’s leading financial and corporate law firms, has ranked our banking and finance team Tier 1 for the 10th year in both the bank lending and project finance categories.
The team has been active in South Africa’s renewable energy boom.
The guide says: “With 42 banking
When you delete your Twitter account:
The Department of Energy has released the fourth edition request for proposals under the Renewable Energy Independent Power Producer (REIPP) procurement programme. A number of the amendments have been made following much consultation with developers and lenders over the previous three bid submission rounds. The fourth edition of the RFP can make the bidding process
An insurance policy in the UK provided cover against the risks of insolvency or defective work on the part of the builder. The policy misstated the name of the main contractor as TT Construction instead of TT Bedford.
When TT Bedford went insolvent the insured sought an indemnity from the insurers for the losses incurred