Subject Title - INSETA

Experience requirements for a Category IThe FSP (who is a sole proprietor) must meet the minimum experienceapplicable to the subcategories as described in Table A. It must be practicalexperience gained in the rendering of financial services in respect of CategoryI and the subcategories concerned, provided that: 18the experience involved the active and ongoing gaining of knowledge,skills and expertise required in terms of the Act.the experience was obtained through active involvement and couldhave been gained whilst rendering financial services undersupervision.the experience could have been gained simultaneously in multiplesubcategories, provided that proof of such experience can besubmitted.if the licence changes to include other financial services or othersubcategories, the experience requirements of the othersubcategories must be met, PROVIDED that:– if the change includes additional financial service (advice andintermediary service), the FSP (key individual) must obtain50% of the experience requirements applicable to theadditional financial services (as indicated in the applicabletable); and– if the change relates to an additional subcategory, the FSP(key individual) must obtain 100% of the experiencerequirements applicable to the additional subcategory (asindicated in the applicable table).Experience requirements for a Category IIThe FSP (who is a sole proprietor) must meet the minimum experienceapplicable to the subcategories as described in Table B. It must be practicalexperience gained in the rendering of financial services in respect of CategoryII and the subcategories concerned, provided that 19 :the experience involved the active and ongoing gaining of knowledge,skills and expertise required in terms of the Act;18 Section 4(1)(a) of BN 10619 Section 4(2)(a) of BN 10636 © INSETA - Section 1 12a