Voluntary termination of Membership

Question 1

Notice required by the JSE when a member voluntarily terminates membership?

Answer 1

A member may apply to terminate its membership by giving the JSE 30 days written notice.

Question 2

The Membership Committee’s decision process?

Answer 2

• Membership Committee may accept the termination unconditionally or subject to such conditions as it may
  deem fit.
• Or may refuse to accept the termination until it is satisfied that all outstanding contractual or other obligations of the member have been satisfied

Question 3

Provisions for member wish to change its authorised user status

Answer 3

Should a member wish to change its authorised user status or wish to obtain authorisation to operate in another sub-category of authorised user, the provisions of rule 3.40 shall apply mutatis mutandis

Question 4

Changes in name or corporate structure, inform the JSE of these changes:

Answer 4

• in the case of a corporate entity changing its name, the notification shall be accompanied by the relevant certificate of name change.
• If a merger, take-over, transfer of business
  or corporate restructuring that a trading member’s business or infrastructure relating to trading in derivative securities is affected, the trading member shall inform the JSE of the change at least one month before it takes effect
• the notification shall be accompanied by such information as would be required in the case of a new application for membership: Provided that the JSE may, at its discretion, request full particulars regarding the change and the reasons therefor, and provided further that the JSE may determine that a new application for membership must be made.

Question 5

When the termination becomes effective.

Answer 5

The JSE shall notify members of the termination of or change in membership, and the termination shall become
effective on the date and time of the notice,