SCHEDULE 2
FINANCIAL SECTOR LEVY CALCULATION FOR SUPERVISED ENTITIES IN RESPECT OF FINANCIAL SECTOR CONDUCT AUTHORITY
(Section 4(1)(a))
Application
| 1. |
Table B must be applied to calculate the levy payable by a supervised entity that is— |
| (f) |
a micro-insurer that conducts life insurance business only, non-life insurance business only, both life insurance business and non-life insurance business or reinsurance business; |
| (h) |
a central securities depository; |
| (i) |
an independent clearing house; |
| (j) |
an associated clearing house; |
| (k) |
a central counterparty; |
| (m) |
an over-the-counter derivative provider; or |
| (n) |
a credit rating agency; |
| (o) |
a pension fund: occupational fund; |
| (p) |
a pension fund: preservation fund; |
| (q) |
a pension fund: provident preservation fund; |
| (r) |
a pension fund: retirement annuity fund; |
| (s) |
a pension fund administrator; |
| (t) |
a collective investment scheme in securities; |
| (u) |
a collective investment scheme in hedge funds; |
| (v) |
a foreign collective investment scheme; |
| (w) |
a collective investment scheme in property; |
| (x) |
a collective investment scheme in participation bonds; |
| (y) |
a category I or IV financial services provider; |
| (z) |
a category II, IIA or III financial services provider; |
| (zA) |
a category I or category IV financial services provider in respect of only the following financial products subcategories: |
| (i) |
Long-term insurance subcategory A; or |
| (ii) |
friendly society benefits; or |
| (zB) |
a financial services provider (authorised in multiple categories). |
Alleviation of double levy payment in respect of clearing house
| 2. |
A clearing house that is approved in terms of section 110(6) of the Financial Markets Act to perform the functions of a central counterparty or a licensed independent clearing house who is also licensed as a central counterparty is liable to pay the levy applicable to a central counterparty, but is not liable to pay the levy applicable to an associated clearing house or an independent clearing house. |
Levy payment in respect of reinsurer
| 3. |
A reinsurer that is licensed under the Insurance Act to conduct both life insurance business and non-life insurance business must be levied separately for its life insurance business and non-life insurance business. |
Preferential Procurement Policy Framework Act, 2000
