Regulatory Alerts2023-07-21
Market Guidance on the Application Process for a Share Transfer Agent’s Licence
The Securities Commission of Zambia issued this guidance to mandate licensing for companies and individuals acting as Share Transfer Agents or Representatives. Applicants must submit detailed documentation, including incorporation certificates, audited financials, director and shareholder credentials, and Capital Market Association membership proof, while satisfying fit-and-proper criteria and maintaining a positive net asset position. The Commission enforces compliance by 31 December 2023, after which unlicensed operators face enforcement action and annual fees will apply once the relevant statutory instrument is finalized.
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