Regulatory Alerts2025-03-06
Regulatory Bylaw No. 33: Procedures for Pledging and Seizing Securities
The Capital Market Authority issued Bylaw No. 33 to establish standardized procedures for the pledge and seizure of securities deposited at the Central Depository. The regulation mandates that pledges are only effective upon registration in the shareholder register and requires specific documentation from banks or courts to initiate these actions. It further outlines the operational mechanics for executing sales of seized or pledged securities through market mechanisms and defines the distinct administrative processes for pledges versus seizures.
Share