PAIA Manual

 This manual is published in terms of Section 51 of the Promotion of Access to Information Act, No. 2 of 2000 (“the Act” / “PAIA”). It is intended to foster a culture of transparency and accountability by giving effect to the right to information that is required for the exercise or protection of any right and to actively promote a society in which the people of South Africa have effective access to information to enable them to more fully exercise and protect their rights. 

This manual provides a reference to the records held by Steyn Capital Management (Pty) Ltd (“the company” or “FSP”) and the process that needs to be adopted to access such records. All requests for access to information (other than information that is available to the public) should be addressed to the designated Information Officer as identified in this manual.

Steyn Capital Management (Pty) Ltd (“the company” or “FSP”) is a registered financial services provider (FSP number 37550) in terms of the Financial Advisory & Intermediary Service Act and regulated by the Financial Sector Conduct Authority (“FSCA”). The license enables the company to deliver the following services:

Category I – Advisory and Intermediary FSP:

• Shares
• Derivative Instruments
• Participatory interests in a hedge fund

Category II – Discretionary FSP

• Participatory interests in a hedge fund
• Shares
• Money market instruments
• Debentures and securitised debt
• Warrants, certificates and other instruments
• Bonds
• Derivative Instruments
• Participatory interests in a hedge fund
• Participatory interests in collective investment schemes

Category IIA – Hedge Fund FSP

• Shares
• Money market instruments
• Debentures and securitised debt
• Warrants, certificates and other instruments
• Bonds
• Derivative Instruments
• Participatory interests in collective investment schemes
• Participatory interests in a hedge fund
• General Category IIA experience

The company obtained its license to act as a financial services provider in June 2009 and is a value-orientated alternative investment manager focussed on investing principally in publicly traded emerging and frontier market equity securities. The company seeks to maximise investor capital by buying securities with trading values materially lower than their intrinsic values, and by avoiding (or selling short in our hedge funds) securities with trading values materially higher than their intrinsic values. Its aim is to achieve high absolute rates of return over the long term while minimising the risk of capital loss. 

The company combines the analytical discipline of determining fair value with a practical understanding of markets. It invests in securities where it assesses the value of the investee company to be considerably higher than the current market valuation and where it can ascertain the reason for the difference in valuation.

Definitions

• Data Subject means the person to whom the Personal Information relates;

• FAIS Act means the Financial Advisory and Intermediary Services Act, No. 37 of 2002;

• FSCA means the Financial Sector Conduct Authority;

• FSP means financial services provider;

• Information Regulator means the Office of the Information Regulator as established in terms of section 39 of POPIA, to monitor and enforce compliance with both POPIA and PAIA;

• PAIA means the Promotion of Access to Information Act No. 2 of 2000, as amended;

• Personal Information means any information relating to an identifiable natural person, or to the extent applicable, a juristic person. This includes, but is not limited to information relating to race, gender, sex, pregnancy, marital status, ethnic and social origin, colour, sexual orientation, age, physical or mental health, religion, disability, language, information relating to educational, medical, financial, criminal or employment history, any identifying number, email address, physical address, telephone number, location information, online identifier or biometric Personal Information;

• PoPIA means the Protection of Personal Information Act No.4 of 2013;

• Process or Processing means any activity concerning Personal Information including the collection, receipt, recording, organisation, collation, storage, updating or modification, retrieval, alteration, consultation or use, dissemination by means of transmission, distribution or making available in any other form, or merging, linking, as well as restriction, degradation, erasure or destruction of information;

• Record/s means any recorded information regardless of the from, including, for example, written documents, audio, digital and video materials. A Record requested from a public or private body refers to a Record that is in that body’s possession regardless of whether that body created the Record;

• Responsible Party means a public or private body or any other person which, alone or in conjunction with others, determines the purpose of and means for Processing Personal Information.

Purpose of PAIA manual

This PAIA Manual may be used by the public to:

• check the categories of Records held by the FSP that are available without having to submit a formal PAIA request;

• understand how to make a request for access to a Record of the FSP, by providing a description of the subjects on which the FSP holds Records and the categories of Records held on each subject;

• know which Records of the FSP are available in accordance with other legislation;

• access the relevant contact details of the persons who will assist the public with the Records they intend to access;

• know where to access the Information Regulators guide on how to use PAIA;

• know whether the FSP will process personal information, for what purpose personal information is processed and the description of the categories of data subjects and of the information or categories of information relating thereto;

• know the recipients or categories of recipients to whom the personal information may be supplied;

• know if the FSP has planned to transfer or process personal information outside the Republic of South Africa and the recipients or categories of recipients to whom the personal information may be supplied; and

• know whether the FSP has appropriate security measures to ensure the confidentiality, integrity and availability of the personal information which is to be processed.

Company contact details

Registered address:
Verdi House, Klein D’Aria Estate
97 Jip de Jager Drive
Bellville , 7530

Postal address: PO Box 5673, Tygervalley, 7536
Website: steyncapitalmanagement.com
Telephone number: +27 (0) 21 001 4682
Email: info@steyncapitalmanagement.com
Designated Information Officer: Jamie Kent

Access to Records

PAIA grants a requester access to certain Records of a private body if the said Records are required to exercise or protect any rights of the requester. Should a public body lodge such a request, it must be acting in the public interest.

Any request for information in terms of PAIA, must be made in accordance with the prescribed form and manner, at the rates provided. The prescribed form and manner and the tariff are dealt with in sections “Categories of records which are available without a person having to request access” and “Records available in terms of other legislation”.

The contact details of the Information Regulator are as follows:

Postal Address:    : PO Box 31533, Braamfontein, Johannesburg, 2017

E-mail address    : inforeg@justice.gov.za

Website                 : https://inforegulator.org.za/

The Information Regulator has, in terms of section 10(1) of PAIA, as amended, made available a Guide on how to use PAIA (the Guide), in an easily comprehensible form and manner, as may reasonably be required by a person who wishes to exercise any right contemplated in PAIA and POPIA. The Guide is available in each of the official languages and in braille, and can be obtained from the Information Regulator’s website at https://inforegulator.org.za/paia-guidelines/

If your PAIA request is denied, or there is no response from a public or private body for access to Records, a complaint can be lodged with PAIAComplaints@inforegulator.org.za

Categories of records which are available without a person having to request access

• Marketing: Advertisements, press releases, articles
• Client related: Current Fund Fact Sheets, Investor news letters/commentary

Records available in terms of other legislation

All records that can be accessed without the submission of a formal request (i.e. a formal request as defined by PAIA) can be accessed by contacting our designated Information Officer. Additionally, we are required to ensure that certain records are available in terms of other legislation, which are mentioned below:

• Basic Conditions of Employment Act 75 of 1997
• Collective Investment Schemes Control Act 45 of 2002
• Companies Act 71 of 2008
• Compensation for Occupational Injuries and Diseases Act 130 of 1993
• Consumer Affairs (Unfair Business Practices) Act 71 of 1988
• Consumer Protection Act 98 of 1978
• Employment Equity Act 55 of 1998
• Financial Advisory and Intermediary Services Act 37 of 2002 (“FAIS”)
• Financial Intelligence Centre Act 38 of 2001 (“FICA”)
• Harmful Business Practices Act 23 of 1999
• Income Tax Act 95 of 1967
• Labour Relations Act 66 of 1995
• Occupational Health & Safety Act 85 of 1993
• Prevention of Organised Crime Act 121 of 1998
• Protection of Businesses Act 99 of 1978
• Security Services Act 36 of 2004
• Skills Development Levies Act 9 of 1999
• Skills Development Act 97 of 1998
• Unemployment Contributions Act 4 of 2002
• Unemployment Insurance Act 63 of 2001
• Value Added Tax 89 of 1991

Please note that while we have made every effort to identify all pertinent legislation, we cannot guarantee that all legislation has been included. Should you be aware of any specific legislation that should be included and which has been omitted, please contact our designated Information Officer.

Subjects and categories of records held by the company

We set out below the subjects / categories and some examples of the records that are held by the company and which may be the subject of a request for the purpose of the Act. Please note that our records can be found in various forms including electronic or paper.

Companies Act Records

• Documents of incorporation
• Memorandum of incorporation
• Minutes of Board of directors meetings
• Records relating to the appointment of directors / auditors / secretary / public officer and other officers
• Share register and other statutory registers
• Annual financial statements
• Tax returns
• Accounting records
• Banking records, bank statements, electronic banking records
• Asset register
• Rental agreements
• Invoices
• Insurance information
• Property / investments held or owned
• Financial reports, balance sheets, income statements

Revenue Records

• PAYE records
• Documents issued to employees for income tax purposes
• Records of payments made to SARS on behalf of employees
• All other statutory compliances:
  • VAT
  • Skills development levies
  • UIF
  • Workmen’s compensation

Personnel documents and Records

• Employment contracts
• Disciplinary records
• Salary records
• Disciplinary code
• Leave records
• Records of training provided to employees

Business & Operational Records

• E-mails
• Business process and activity documentation
• Agreements with clients
• Contracts with service providers
• Investment-related documentation
• Policy-related documentation

Technology Records

• Licenses
• Software packages
• Operating systems
• Service provider contracts

Marketing and Customer Relations Records

• Introductory material
• Description of products & services
• Correspondence
• Fact sheets and quarterly letters

Compliance Records

• Compliance reports
• Statutory information
• Information required by FAIS and FICA

Form of a request for information

A requester must use the prescribed Form 2 to request access to the information.  Form 2 can be accessed at the following URL: https://inforegulator.org.za/paia-forms/

The request must be addressed to the Information Officer as indicated in clause 5.

The requester must provide sufficient detail on Form 2 to enable the Information Officer of the company to establish who is requesting the said information as well as what information is being requested and in what format.

The requester must provide sufficient detail in respect of his/her contact details and if the requester wishes to be informed of the decision of the company in any manner (in addition to written) the manner and particulars thereof.

Lastly, the right which the requester is seeking to exercise or protect with an explanation of the reason the Record is required to exercise or protect the right.

After the company has decided on the request, the requester must be notified in the required form.

If the request is granted, then a further access fee must be paid for the search, reproduction, preparation and for any time that has exceeded the prescribed hour to search and prepare the Record for disclosure.

If the request is refused in terms of either the mandatory or discretionary grounds of refusal, the FSP must notify the requester thereof.

Prescribed fees

A requester who seeks access to a Record containing Personal Information about that requester is not required to pay a request fee.

Every other requester, who is not a personal requester, must pay the required request fee, as prescribed from time to time. If the preparation of the Record requested requires more than the prescribed hours (six), a deposit shall be paid (of not more than one third of the access fee which would be payable if the request were granted).  A requestor may lodge an application with a court against the tender/payment of the request fee and/or deposit.

Records may be withheld until the fees have been paid.

Fees applicable in respect of private bodies are as per Annexure B of the regulations to PAIA.

Processing of personal information in terms of PoPIA

The FSP may be required to Process Personal Information in terms of PoPIA.

A Data Subject is entitled to access the Personal Information held by a Responsible Party, including information about the identity of all third parties, or categories of third parties, who have, or have had, access to the Personal Information.

To view the FSPs Privacy Policy, contact the Information Officer as per clause “Company contact details”.

Availability of the manual

This manual is available for inspection at the offices of the company during normal business hours free of charge upon prior arrangement with the Information Officer of the company.

A copy is also available on the website of the company.