This
contains UNCERTIFIED COPY for information/reference. For authentic
copy, please refer to certified copy only. In case
of any
mistake,
please bring it to our notice.
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
* LegalB refers to a "version" of an Act or its sections in the format "YYYY_NNN_SSS_YYYYMMDD", which refers to "YEAR OF ACT_ACT NUMBER_SECTION OF ACT_DATE OF GAZETTE", and where "DATE OF GAZETTE" refers to the "YEAR_MONTH_DAY" on the face of the Gazette in which either the Act was originally published or in which the amending, lapsing or repealing instrument was published. Where any segment of the reference string contains only zeros, it means that information is not relevant, not made available, or unavailable. * Unbolded grey text in square brackets is additional information provided by LegalB. * "..." indicates further information not provided by LegalB for purpose of brevity * An Asterisk indicates uncertainty regarding information, and a double asterisk indicates information must be read in the light of our relevant Commentary. |
|