STT Act definition

STT Act means the Securities Transfer Tax Act 25 of 2007;

STT Act means the Securities Transfer Tax Act, 2007 (Act No.25 of 2007);“terminating transaction”means a purchase of equity securities which have not subsequently been sold or a sale of equity securities which have not subsequently been purchased;‘trade cancellation”means the cancellation of an on book or off book trade on the same business day or the next business day;“trading services”means the execution of transactions in equity securities by a member –(a) for the member’s own account; and(b) with or on behalf of a client;“trading services provider”means a member which has been authorised by the JSE to perform trading services in terms of the rules;“transaction”has the same meaning as that contained in section 1 of the Act;“TSP”means a trading services provider;“uncertificated equity securities” “uncertificated securities register”means equity securities that are not evidenced by a certificate and are transferable by book entry without a certificate;has the same meaning as that contained in section 1 of the Act;“uncommitted settlement”means a settlement obligation for which a CSDP has not provided a settlement undertaking;“Unrestricted and security restricted stock account”means a stock account for transactions or positions in equity securities, where the member acquires or sells equity securities for the member’s own account and where the member either has the freedom to acquire or dispose of such equity securities without being subject to any restriction placed on the member by any other person, or where a restriction is placed on the member in respect of the disposal of such equity securities by-(a) a lender of cash or another creditor, to whom the equity securities are pledged or ceded as security for the money lent or other debt, and where interest on the loan or other debt is charged at a rate which is unrelated to any changes in the value of the equity securities; or(b) a lender of securities to whom the equity securities are pledged or ceded as security for fulfilment of the member’s obligations in terms of a “lending arrangement” as defined in the STT Act, and where the fee charged by the lender is unrelated to any changes in the value of the equity securities; or(c) a person to whom the equity securities are pledged or ceded as security for the fulfilment of the member’s obligations in respect of the purchase or sale of other securities, and where the benefits of the rights attaching to the equity securities remain with the member and are not directly...

STT Act means The Securities Transfer Act, No. 25 of 2007, as amended;

Examples of STT Act in a sentence

• In 2015, 2016 and 2017 changes were made in the Act and the STT Act to allow for an outright transfer of listed shares or local and foreign government bonds in collateral lending arrangements.

• However, in terms of the STT Act, the CSDP of the relevant Shareholder is entitled to recover the amount of STT payable from Trencor as the person to whom Fractional Shares are transferred.

• Firstly, a collateral arrangement is a defined concept in the STT Act and any arrangement falling outside of this definition is subject to STT.

• In order to ensure that South Africa upholds the intention of these international agreements, it is proposed that changes be made in the STT Act to make provision for this immunity from taxation.

• For example, the current provisions of section 10 of STT Act provide that no exemption provided for by any other law will apply to the tax payable under the STT Act.

• This implies that the provision for exemption from taxation of any kind and description granted to the international organisation in terms of the above-mentioned international agreement will be nullified by the provisions of section 10 of the STT Act.

• This summary does not consider legislative proposals to amend the South African Income Tax Act or the South African STT Act.

• STT will be payable on the transfer of any Unbundling Shares (including Fractional Shares) to Shareholders pursuant to the Unbundling in terms of the STT Act.

• Borrower and Lender shall jointly ensure that each delivery of Non-Cash Collateral comprising uncertificated equity securities constitutes a “collateral arrangement” as defined in section 1 of the STT Act.

• Securities Transfer Tax The issue, transfer and redemption of the Notes will not attract securities transfer tax under the Securities Transfer Tax Act, 2007 (the STT Act, as amended from time to time) because the Notes do not constitute “securities” as defined in the STT Act (i.e. the Notes will not, themselves, constitute a share or depository receipt in a company).

More Definitions of STT Act

STT Act means the Securities Transfer Tax Act, No. 25 of 2007;

STT Act means the Securities Transfer Tax Act, 2007 (Act No. 25 of 2007), as amended from time to time;

STT Act. Securities Transfer Tax Act, 25 of 2007;