Directive on declaration before buy/sell/other dispose off units

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DIRECTIVE

No. SEC/CMRRCD/2009-193/50/Admin/02-24 July 14, 2010 Whereas, the Securities and Exchange Commission, in the interest of investors and the capital market, deems it fit that certain directive should be issued by the Commission to the sponsor unit holders or placement holders of the mutual funds listed with any stock exchange; Now, therefore, in exercise of the power conferred by section 20A of the Securities and Exchange Ordinance, 1969 (XVII of 1969), the Securities and Exchange Commission hereby directs the sponsor unit holders or placement holders of the mutual funds listed with the stock exchange to the effect that;- Every sponsor unit holder or placement holder of the mutual funds listed with any stock exchange shall simultaneously submit a written report to the Securities and Exchange Commission and the stock exchange with which the mutual funds are listed about his/her/its intention to sell or otherwise dispose off in any manner whatsoever the units held by him/her/it in the concerned mutual fund in the following format:
FORMAT
To
Chairman
Securities and Exchange Commission
Jiban Bima Tower (14, 15, 16 and 20th Floor)
10 Dilkusha C/A
Dhaka-1000
Copy to: Chief Executive Officer, Dhaka Stock Exchange Ltd./Chittagong Stock Exchange Ltd. Subject: Report Pursuant to the Securities and Exchange Commission’s Directive No. SEC/CMRRCD/2009- 193/50/Admin/02-24 dated July 14, 2010, I hereby report that I intend to sell or dispose off some units of the following mutual fund, of which I am a sponsor unit holder/placement holder since .................., within next thirty working days from the date of receipt of this report by the Securities and Exchange Commission and the stock exchange, the full particulars of which are given below:

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1. Name of the mutual fund:
2. Name and full address of the sponsor unit holder/placement holder:
3. Beneficiary Owner (BO) account number:
4. Quantity of units held in the said mutual fund:
5. Quantity of units of the mutual fund to sell/dispose off:
6. Tax Identification Number (TIN) (if any) of the sponsor unit holder/placement holder:
7. Name of the designated stock-broker and the stock exchange:
8. Details of disposal planned for other than through stock exchange (if applicable):
   DECLARATION
   I hereby declare that I have already placed the concerned units, along with the relevant irrevocable sale order, with my above named stock-broker (document enclosed) for execution at prevailing market price, and that I shall submit details of the proposed sell/transfer of the said units to the Securities and Exchange Commission and the stock exchange within one week of execution of the said sale or transfer. __________ ______________________ Place and date. Signature of the sponsor unit holder/placement holder. Signature verified by:___________________________________________ (Signature with name and designation, date and seal of the authorized officer of the Asset Management Company of the concerned Mutual Fund). This Directive shall supersede the previous Directive No. SEC/CMRRCD/2009-193/46/Admin/02-23 dated July 01, 2010, and shall have immediate effect. By order of the Securities and Exchange Commission Md. Ziaul Haque Khondker Chairman.