For Fasset to pay grants,
current banking details are required. An original stamped letter issued
by the bank, or an original cancelled cheque, is required to process
any changes in banking details.
An IST is the process of transferring a company from one Seta to
another.
The transfer may be done under any of the following
circumstances:
The company has been incorrectly registered with a Seta
as the main business activity does not match the industrial scope of the
Seta
The main business of the enterprise has changed since
the previous registration with SARS and now better suits the industrial
scope of another Seta
The employer falls within the jurisdiction of more than
one Seta, and the employer's application to transfer to the new Seta is
motivated by:
the composition of the workforce,
the amount of remuneration paid or payable to the different categories of employees; and
the training needs of the different categories of employees
Should an organisation wish to move from another Seta to Fasset,
an IST 01 form must be submitted to the Seta with which the
organisation is currently registered. Should a company wish to move out
of Fasset to another Seta the IST 01 form must be submitted to Fasset.
The Seta must in turn approve the application and forward the signed
application to the Department of Higher Education and Training (DHET).
DHET then verifies the request and submits the form to the South African
Revenue Services (SARS) who will process the change.
Please note that this process could be time-consuming. If the
application is declined by the relevant Seta, an organisation can
dispute this with the Seta in question. If the transfer is still not
effected, the matter can be escalated to DHET.
Although the Seta facilitates this process, the Seta cannot be
held responsible for changes not being made timeously. It is ultimately
the responsibility of the organisation to ensure that they are
registered with the correct Seta and to monitor the process and ensure
the transfer is completed.
Please contact the PQA Department (011) 476-8570 with any enquiries in this regard or consult the Download page for additional information