Related documents
- Is amended by Financial Institutions Amendment Act, 1988

Participation Bonds Act, 1981
Act 55 of 1981
- Published in South African Government Gazette no. 7761 on 9 September 1981
- Assented to on 18 August 1981
- Commenced on 9 September 1981
- [This is the version of this document from 20 May 1988 and includes any amendments published up to 6 October 2022.]
- [Amended by Financial Institutions Amendment Act, 1988 (Act 51 of 1988) on 20 May 1988]
1. Definitions
In this Act, unless the context indicates otherwise -“manager” means a company or firm with which or person with whom a nominee company has entered into an agreement such as is referred to in paragraph (c) of the definition of nominee company;“nominee company” means a nominee company which has been approved by the registrar in terms of section 37(2)(a) of the Unit Trusts Control Act, 1981, and which -2. Registration of mortgage bonds in the name of nominee company
3. Grant of participations in mortgage bonds
4. Notification of grant of participation
5. Register of bonds and participations
6. Rights of participant
7. Participations rank in preference concurrently
All participations granted in any participation bond, whenever granted, shall rank in preference concurrently with one another as from the date of registration of the bond.8. Restrictions on rights of nominee company
A nominee company shall not transfer, cede or in any way encumber any rights under a participation bond without the written consent of the registrar.9. Amalgamation of nominee companies, and cession or transfer of participation bonds
10. Rules of scheme
11. Collateral security in respect of participation bonds
12. Audit
13. Powers of inspection
14. Furnishing of information to registrar
A manager shall within a period of 30 days after receipt of a written request from the registrar, or within such further period thereafter as the registrar may allow, furnish the registrar with such information in relation to a scheme managed by it or him (together with a report thereon by the auditor, if so requested), as the registrar may request.14A. Registrar’s powers in regard to certain advertisements, brochures or other similar documents
Notwithstanding anything to the contrary in any law contained, the registrar may, if he is of the opinion that the terms of any advertisement, brochure or other similar document relating to a scheme and proposed to be published or being published by a manager or its authorized agent are misleading or for any other reason objectionable, direct such manager or such agent, as the case may be, not to publish or to cease the publication of the advertisement, brochure or document concerned or to effect such adjustments thereto as he may deem fit.[section 14A inserted by Act 51 of 1988]15. Offences
Any person who -16. Application to South West Africa
This Act and any amendment thereof shall also apply in the territory of South West Africa, including the Eastern Caprivi Zipfel.17. Repeal of laws, and savings
18. Short title
This Act shall be called the Participation Bonds Act, 1981.History of this document
20 May 1988 this version
Amended by
Financial Institutions Amendment Act, 1988
09 September 1981
Published in
South African Government Gazette number 7761
Commences.
18 August 1981
Assented to.
Cited documents 8
- Deeds Registries Act, 1937
- Financial Institutions Amendment Act, 1972
- Financial Institutions Amendment Act, 1976
- Financial Institutions Amendment Act, 1978
- Financial Institutions Amendment Act, 1980
- Inspection of Financial Institutions Act, 1984
- Public Accountants’ and Auditors’ Act, 1951
- Unit Trusts Control Act, 1981
Documents citing this one 10
- Discussion Document on Consumer Protection
- Discussion Paper on Issues relating to the Insolvency Act, 1936
- Financial Institutions (Investment of Funds) Act, 1984
- Namibia Financial Institutions Supervisory Authority Act, 2001
- Namibia Government Gazette dated 1990-07-09 number 42
- Namibia Government Gazette dated 1998-03-09 number 1808
- Namibia Government Gazette dated 2001-05-14 number 2529
- Namibia Government Gazette dated 2010-11-05 number 4598
- Namibia Government Gazette dated 2011-04-13 number 4686
- Namibia Government Gazette dated 2021-10-01 number 7645