Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PropPlan ( Pty ) Ltd ( PropPlan ) is an authorised Category I financial services provider ( FSP ) and a registered property practitioner. (

PropPlan (Pty) Ltd (PropPlan) is an authorised Category I financial services provider (FSP) and a registered property practitioner.(i) The Consumer Protection Act 68 of 2008(the CPA) applies to PropPlan's activities, as a registered property practitioner, but not to itsactivities as an authorised Category I FSP.(ii) PropPlan wants to declare dividends to its shareholders. Its shareholders must authorise the dividend declaration, by way of a shareholders' resolution.(iii) PropPlan has a third party named collective investment scheme portfolio. The portfolio is classified within the Association for Savings and Investment South Africa (ASISA)- Equity - General portfolioclassification category. This means the portfolio must invest: at least 60% of its assets in South African investment markets, with a maximum of 30% of its assets outside of South Africa, plus an additional 10% of its assets in Africa, excluding South Africa; and a minimum of 80% of the net asset value of the portfolio in equity.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Finance questions