Regulatory Alerts2025-05-16
Securities (Registration of Securities) (Investment Companies) Rules S.I No 167 of 1993
The Commission issued Statutory Instrument 167 of 1993 to establish additional registration conditions and prospectus requirements for investment companies under Zambian securities law. The rules mandate independent custodians, cap management control at thirty-five percent, enforce a twenty percent diversification threshold per holding, and require a three-year stability period for stated investment objectives. Registered entities must submit detailed prospectuses covering costs, taxes, and top holdings, while fulfilling ongoing reporting duties that include monthly net asset value disclosures in leading newspapers and comprehensive annual investment analyses.
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