Conditions - Annexure G

Control Activities: Control activities help ensure that management’s directives are implemented and that necessary actions are taken to address risks, thus enablingthe entity to achieve its objectives. These activities take place throughout the organisation, at all levels, and in all functions, involving processes as diverse asapprovals, authorisations, verifications, reconciliations, reviews of operating performance, the security of assets, and the segregation of duties.Objective Key control activities AdministratorKey ControlsAuditProceduresFindings andexceptionsnotedExplanationformmanagementin respect ofexceptionsCompliance with controlactivities8(a)8(b)161(d)If the applicant administers insuredfunds, one bank account as required interms of section 5(2) of the Act must beopened and/ or if the administrator hasadministers funds other than insuredfunds, separate bank accounts areopened in the manner required byRegulationIf the applicant administers facilitation(trust) accounts, then the administratormust comply with condition 10 of theConditions.Compliance audits, compliance reportsfrom third parties.Policies and procedures for thenecessary acceptance and termination ofadministration agreements in terms ofthe Conditions.12