Regulatory Alerts2022-09-27
Amendment to the Investment and Securities (Exemption of State Government etc.) Order 2019
The Securities and Exchange Commission, on behalf of the Minister of Finance, has approved an amendment to the 2019 Investment and Securities Order by adding a new Section 3. This amendment formally exempts State Governments and the Federal Capital Territory from Section 223 of the Investments and Securities Act, 2007. Consequently, these entities are now authorized to raise capital market funds directly for infrastructural development projects.
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