| (1) | Any transaction in listed securities resulting in a change of beneficial ownership of those securities that is concluded outside of an exchange by— |
| (b) | a person referred to in section 24(d), |
must be reported by that financial institution or person, as the case may be, to the Authority.
| (2) | The Authority may prescribe standards in respect of reports referred to in subsection (1) specifying— |
[Words preceding section 25(2)(a) substituted by section 290, item 16 of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]
| (a) | the information required in respect of any transaction; and |
| (b) | the manner in and time within which reports are to be rendered. |
| (a) | The Authority must disclose information about a transaction reported in terms of subsection (1) to the exchange on which the securities are listed. |
| (b) | The Authority may disclose information about a transaction reported in terms of subsection (1) to the public, if the Authority is satisfied that such disclosure will enhance the objects of this Act referred to in section 2 or regulatory effectiveness and transparency. |
| (4) | The exchange referred to in subsection (3) may publish any information disclosed to it in terms of that subsection. |
