S.L. 372.25 Art. 3Registration by company or trustee.

(1) A person who wishes to be registered with the

Commissioner in terms of these rules shall advise, in writing, the company or trustee, as the case may be, from which he expects to receive a dividend or a distribution of profits in relation to which he wishes to make a claim to be registered and the company or the trustee, as the case may be, shall forthwith effect the registration in the manner set out in rule 4: Provided that where the company or the trustee, as the case may be, as a result of such registration may be deemed to be a payor in terms of article 41(b) of the Income Tax Act, the said company or trustee shall not be obliged to register the said person who, after having been requested by the said company or trustee, has not provided the company or trustee with security, including a bank guarantee, for the tax that may be payable by it in terms of article 33 of the Income Tax Act:

Provided further that the trustee shall be required to register only those beneficiaries whom he expects shall be entitled to receive distributions out of profits of the trust.

(2) The registration by the company or by the trustee, as the case may be, in terms of sub-rule (1) will apply for the year of assessment in which registration with the Commissioner in terms of the said sub-rule (1) is duly effected and for all subsequent years of assessment until such time that the person notifies the company or the trustee, as the case may be, of his wish to cancel his registration in terms of rule 7 and such de-registration is effected by the Commissioner: Provided that for each applicable year of assessment following the registration referred to in these rules and until such time that the cancellation of registration is notified in accordance with the provisions of these rules, it shall be deemed that:

(a) the registered shareholder or the registered beneficiary, as the case may be, intends to make a claim in relation to the tax assessable in relation to each of the said years of assessment;

(b) the relevant registration has been renewed for each of the said years of assessment with the original details on the application and, if applicable, as amended by any new details notified in writing by the company or the trustee, as the case may be, to the Commissioner;

(c) in the case of a company, the registered shareholder expects to receive a dividend out of the profits earned in relation to each of the said years of assessment; and

(d) in the case of a trust, the registered beneficiary expects to receive a distribution out of the profits attributable to the trust in relation to each of the said years of assessment.