3.11. Securities control (South African Resident Individuals)

Residents may not act as a nominee for a non-resident purchasing shares or securities in South Africa, unless permission has been obtained via an Authorised Dealer from the Financial Surveillance Department.

Residents of the CMA who deal in securities may not register an address outside the CMA without obtaining the specific prior written approval of the Financial Surveillance Department, via an Authorised Dealer. The applications to the Financial Surveillance Department must contain full and precise details of the request.

Residents may under no circumstances have local dividends on South African registered shares paid outside the CMA without specific prior written approval from the Financial Surveillance Department.

Individuals can invest without restriction in locally managed investment products that have foreign exposures, such as collective investment schemes and long-term insurance policies.