Authorisations and Approvals (Part I)

Question 1

Define “agency office”

Answer 1

An office which does not undertake any of the functions of a branch office but which can undertake scrip and cash settlements.

Question 2

Define “branch office”

Answer 2

An office of a member, other than its primary or head office, which can perform trading services and investment services.

Question 3

Define “JSE listed securities”

Answer 3

Those listed securities included in the list of securities kept by the JSE.

Question 4

Define “member”

Answer 4

An equities member, which is a category of authorised user admitted to membership of the JSE under the rules.

Question 5

Define “non-executive director” of a member.

Answer 5

A person appointed as a director of the member under the Companies Act who is not employed by such member.

Question 6

Define “nominee register”

Answer 6

The electronic record of ownership of uncertificated equity securities balances of controlled accounts maintained by a CSP.

Question 7

Define “regulated services”

Answer 7

Those securities services and other activities which are regulated by the JSE and which the JSE authorises members to perform, namely:
1. trading services;
2. investment services;
3. custody services; and
4. money broking.

Question 8

Define “trading services”

Answer 8

The execution of transactions in equity securities by a member :
1. for the member’s own account; and
2. with or on behalf of a client.