Investment regulation - South Africa

Holding restrictions

Shares of a bank or of a bank holding company

In the case of an acquisition exceeding or falling below various thresholds of 15% or more, when the aggregate ownership limit is reached, the investor requires the authorisation of the Registrar of Banks, the Minister of Finance and/or the Competition Board, depending on the tier reached.

Shares of an insurance company

In the case of an acquisition of or exceeding 25%, when the aggregate ownership limit is reached, the investor requires the authorisation of the Registrar of Long and/or Short Term Insurance.

Disclosure requirements

For details of the local domestic disclosure requirements, please refer to the Disclosure Requirements.