Directive regarding Time limit for stock exchanges for recommendation on public issue

BANGLADESH SECURITIES AND EXCHANGE COMMISSION
JIBON BIMA TOWER (14, 15, 16 & 20 FLOOR), 10 DILKUSHA C/A, DHAKA-1000, BANGLADESH

No. SEC/CMRRCD/2009-193/190

7 September 2016

DIRECTIVE

Whereas, the Bangladesh Securities and Exchange Commission is satisfied that in the interest of investors and securities market and for the development of securities market, the stock exchanges shall comply with certain further requirements regarding public issue;

Now, therefore, the Commission, in exercise of power conferred on it by section 20A of the Securities and Exchange Ordinance, 1969 (XVII of 1969), hereby directs the following, namely:-

A stock exchange shall submit its final recommendation as per rule 4(1)(j) of the Bangladesh Securities and Exchange Commission (Public Issue) Rules, 2015 to the Commission on any public issue within 90 (ninety) days of receiving the application mentioned in rule 4(1)(a) of the said Rules from the issuer concerned.

This shall have immediate effect.

By order of the Bangladesh Securities and Exchange Commission

Dr. M. Khairul Hossain
Chairman.

Phone (PABX) : +880-2-9568101-2, +880-2-9561525, Fax : +880-2-9563721, e-mail : secbd@bdmail.net, Web : www.secbd.org, www.sec.gov.bd