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South
Africa
NATIONAL LEGISLATION OVERVIEWS
NATIONAL LEGISLATION OVERVIEWS
Stock
Exchanges Control Amendment Act, No. 54 of 1995
Long
title
To amend the Stock Exchanges Control Act, 1985, so as to insert, amend or delete certain definitions; to further regulate the delegation of powers and assignment of duties by committees of stock exchanges; to make further provision for the carrying on of the business of a stock exchange and the buying and selling of listed securities; to make provision for the managing of investments to regulate anew the issue and renewal of stock exchange licenses; to make further provision for the contribution to and distribution of funds of a stock exchange to make further provision for the rules of a stock exchange; to make provision for a limitation on the financial interest of the president of a stock exchange to provide for the separation of the funds of a member and of other personel to further regulate the disclosure of information by issuers of securities which are listed to further regulate rights of appeal against certain decisions, and the powers of boards of appeal in connection therewith to make further provision for the buying of securities for payment, or otherwise than for payment, against the offer
of delivery of such securities; to make further provision for the signing of certain forms for purposes of transferring securities; to make further provision for the sale of securities otherwise than by means of a bear sale; to provide that the Minister of Finance may prescribe different or additional provisions for delivery of and payment of listed securities; to make further provision for limitations and qualifications in respect of the purchasing or selling of securities, and repudiations thereof; to make further provision for the prohibition of bear sales by certain directors and shareholders; to make further provision for the establishment and maintenance of a guarantee fund in respect of liabilities of members; to further regulate the marking of securities to further regulate the restriction on borrowing against an the re-pledging of securities of non-members; to further regulate advertising and canvassing relating to securities; to further regulate manipulative practices; to make further provision for the appointment of auditors, and for the auditing and the reporting of irregularities by such auditors; to make further provision for the inspection of non-approved or unlicensed persons; to provide for the disclosure of information by stock exchanges to other domestic or to foreign exchanges; to further regulate the powers of the Registrar in attending certain meetings and the furnishing of certain information to him; to improve and extend certain provisions relating to penalties; to further regulate the power of courts to declare certain convicted members disqualified; to provide for the limitations of certain liabilities; and to delete redundant and obsolete provisions; to provide that the Stock Exchanges Control Act, 1985, shall apply throughout the Republic; and to provide for matters connected therewith.
Table of contents
Legislation Text Access Point
To amend the Stock Exchanges Control Act, 1985, so as to insert, amend or delete certain definitions; to further regulate the delegation of powers and assignment of duties by committees of stock exchanges; to make further provision for the carrying on of the business of a stock exchange and the buying and selling of listed securities; to make provision for the managing of investments to regulate anew the issue and renewal of stock exchange licenses; to make further provision for the contribution to and distribution of funds of a stock exchange to make further provision for the rules of a stock exchange; to make provision for a limitation on the financial interest of the president of a stock exchange to provide for the separation of the funds of a member and of other personel to further regulate the disclosure of information by issuers of securities which are listed to further regulate rights of appeal against certain decisions, and the powers of boards of appeal in connection therewith to make further provision for the buying of securities for payment, or otherwise than for payment, against the offer
of delivery of such securities; to make further provision for the signing of certain forms for purposes of transferring securities; to make further provision for the sale of securities otherwise than by means of a bear sale; to provide that the Minister of Finance may prescribe different or additional provisions for delivery of and payment of listed securities; to make further provision for limitations and qualifications in respect of the purchasing or selling of securities, and repudiations thereof; to make further provision for the prohibition of bear sales by certain directors and shareholders; to make further provision for the establishment and maintenance of a guarantee fund in respect of liabilities of members; to further regulate the marking of securities to further regulate the restriction on borrowing against an the re-pledging of securities of non-members; to further regulate advertising and canvassing relating to securities; to further regulate manipulative practices; to make further provision for the appointment of auditors, and for the auditing and the reporting of irregularities by such auditors; to make further provision for the inspection of non-approved or unlicensed persons; to provide for the disclosure of information by stock exchanges to other domestic or to foreign exchanges; to further regulate the powers of the Registrar in attending certain meetings and the furnishing of certain information to him; to improve and extend certain provisions relating to penalties; to further regulate the power of courts to declare certain convicted members disqualified; to provide for the limitations of certain liabilities; and to delete redundant and obsolete provisions; to provide that the Stock Exchanges Control Act, 1985, shall apply throughout the Republic; and to provide for matters connected therewith.
Table of contents
| SECTION | TITLE |
| 1. | Amendment
of section 1 of Act 1 of 1985... |
| 2. | Substitution
of section 2A of Act 1 of 1985... |
| 3. | Substitution
of section 3 of Act 1 of 1985... |
| 4. | Substitution
of section 4 of Act 1 of 1985... |
| 5. | Repeal
of section 6 of Act 1 of 1985 |
| 6. | Substitution
of section 7 of Act I of 1985... |
| 7. | Substitution
of section 8 of Act 1 of 1985... |
| 8. | Substitution
of section 9 of Act 1 of 1985... |
| 9. | Substitution of section 10 of Act 1 of 1985... |
| 10. | Amendment
of section 11 of Act 1 of 1985... |
| 11. | Insertion
of section 11A of Act 1 of 1985 |
| 12. | Amendment
of section 12 of Act 1 of 1985... |
| 13. | Substitution
of section 13 of Act 1 of 1985 |
| 14. | Substitution
of section 14 of Act 1 of 1985 |
| 15. | Repeal
of section 15 of Act 1 of 1985 |
| 16. | Substitution
of section 16 of Act 1 of 1985... |
| 17. | Amendment
of section 17 of Act 1 of 1985... |
| 18. | Amendment
of section 18 of Act 1 of 1985 |
| 19. | Substitution of section 19 of Act 1 of 1985 |
| 20. | Amendment
of section 20 of Act 1 of 1985... |
| 21. | Amendment
of section 21 of Act 1 of 1985 |
| 22. | Substitution
of section 22 of Act 1 of 1985... |
| 23. | Substitution
of section 23 of Act 1 of 1985... |
| 24. | Substitution
of section 23A of Act 1 of 1985... |
| 25. | Repeal
of section 24 of Act 1 of 1985 |
| 26. | Amendment
of section 25 of Act 1 of 1985... |
| 27. | Substitution
of section 26 of Act 1 of 1985... |
| 28. | Amendment
of section 27 of Act 1 of 1985... |
| 29. | Substitution of section 28 of Act 1 of 1985 |
| 30. | Substitution
of section 29 of Act 1 of 1985... |
| 31. | Amendment
of section 30 of Act 1 of 1985 |
| 32. | Repeal
of sections 31 to 35 of Act 1 of 1985 |
| 33. | Substitution
of section 36 of Act 1 of 1985 |
| 34. | Substitution
of section 37 of Act 1 of 1985 |
| 35. | Substitution
of section 38 of Act 1 of 1985 |
| 36. | Substitution
of section 39 of Act 1 of 1985... |
| 37. | Substitution
of section 40 of Act 1 of 1985 |
| 38. | Substitution
of section 42 of Act 1 of 1985... |
| 39. | Substitution of section 43 of Act 1 of 1985 |
| 40. | Substitution
of section 44 of Act 1 of 1985 |
| 41. | Amendment
of section 45 of Act 1 of 1985 |
| 42. | Insertion of section 45A in Act 1 of 1985 |
| 43. | Amendment
of section 46 of Act 1 of 1985 |
| 44. | Substitution
of section 47 of Act 1 of 1985... |
| 45. | Substitution
of section 48 of Act 1 of 1985... |
| 46. | Substitution
of section 49 of Act 1 of 1985 |
| 47. | Substitution
of section 50 of Act 1 of 1985 |
| 48. | Amendment
of
section 51 of Act 1 of 1985... |
| 49. | Insertion
of
section 52A in Act 1 of 1985 |
| 50. | Transitional
provision |
| 51. | Extension
of
application of Act 1 of 1985 |
| 52. | Short title and commencement |
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