Regulatory Alerts2020-01-01
Securities (Amendment) Act 2020
Enacted by the President and National Assembly, this legislation amends the Securities Act (Cap. 208) to modernize securities market regulations. It replaces the definition of “recognised jurisdiction” with a requirement for ordinary membership in the International Organisation of Securities Commissions and repeals Schedule 2. The Act commences on a date appointed by the Minister of Finance via official Gazette notice.
SECURITIES (AMENDMENT) ACT, 2020 (Act 10 of 2020) AN ACT to amend the Securities Act (Cap. 208) ENACTED by the President and the National Assembly.
- This Act may be cited as the Securities (Amendment) Act, 2020 and shall come into operation on such date as the Minister of Finance may appoint by Notice published in the Gazette. I assent Danny Faure President 6th April, 2020 [9th April 2020] Supplement to Official Gazette 77 Short title and commencement
Amendment of Cap 208 2. The Securities Act is hereby amended as follows — (a) in section 2(1), by repealing the definition of “recognised jurisdiction” and substituting therefor the following new definition — “recognised jurisdiction” means a jurisdiction in which a regulatory authority for a securities market is an ordinary member of the International Organisation of Securities Commissions;”; (b) by repealing Schedule 2. I certify that this is a correct copy of the Bill which was passed by the National Assembly on 25th March, 2020. Mrs. Tania Isaac Deputy Clerk to the National Assembly 78 Supplement to Official Gazette [9th April 2020]