ISDA has prepared this list of frequently asked questions to assist in your consideration of the SOUTH AFRICAN JURISDICTIONAL MODULE to the ISDA RESOLUTION STAY JURISDICTIONAL MODULAR PROTOCOL (the ISDA Jurisdictional Modular Protocol).

THESE FREQUENTLY ASKED QUESTIONS DO NOT PURPORT TO BE AND SHOULD NOT BE CONSIDERED A GUIDE TO OR AN EXPLANATION OF ALL RELEVANT ISSUES OR CONSIDERATIONS IN CONNECTION WITH THE SOUTH AFRICAN JURISDICTIONAL MODULE. PARTIES SHOULD CONSULT WITH THEIR LEGAL ADVISERS AND ANY OTHER ADVISER THEY DEEM APPROPRIATE PRIOR TO USING OR ADHERING TO THE SOUTH AFRICAN JURISDICTIONAL MODULE. ISDA ASSUMES NO RESPONSIBILITY FOR ANY USE TO WHICH ANY OF ITS DOCUMENTATION MAY BE PUT.

These FAQs address the following questions:

• What is the purpose of the South African Jurisdictional Module?
• How does adherence to the South African Jurisdictional Module and the ISDA Jurisdictional Modular Protocol work?
• How does the South African Jurisdictional Module relate to the South African Regulation?
• Why are certain terms in italics and quotation marks?
• What agreements are Covered Agreements under the South African Jurisdictional Module?
• What entities are Regulated Entities under the South African Jurisdictional Module?
• When does the South African Jurisdictional Module become effective?
• What are the compliance dates for the South African Regulation?
• How do I sign up to the South African Jurisdictional Module?

The ISDA Jurisdictional Modular Protocol is designed to facilitate market participants’ compliance with regulations regarding contractual stays in financial contracts governed by third-country law in different jurisdictions. As regulations are adopted in a jurisdiction, a “Jurisdictional Module” to the ISDA Jurisdictional Modular Protocol can be published that includes operational provisions based on the text of that regulation and aimed at enabling parties to comply with those requirements. A party can adhere to a particular Jurisdictional Module by submitting an Adherence Letter for such Jurisdictional Module. Each Jurisdictional Module is considered individually. For more information on the ISDA Jurisdictional Modular Protocol and adherence to the ISDA Jurisdictional Modular Protocol, please see the general FAQs for the ISDA Jurisdictional Modular Protocol.

The South African Jurisdictional Module was published as a Jurisdictional Module to the ISDA Jurisdictional Modular Protocol on November 8, 2023.

You can download the full FAQ here.