Market Guidance Note No. 1 of 2018: Payment of Annual Licence Fees

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THE SECURITIES ACT, 2016 (Act No. 41 of 2016)

MARKET GUIDANCE NOTE NO. 1 OF 2018 PAYMENT OF ANNUAL LICENCE FEES

1.1 The Securities and Exchange Commission (the “Commission”) is authorised under section 212 of the Securities Act, No. 41 of 2016 (the “Act”) to issue such directives, guidance notes, bulletins or other regulatory statements as it considers necessary or desirable for the administration of the Act.

1.2 This guidance is necessary for the administration of sections 25 (2) and 42 of the Securities Act which require a person licensed as a securities exchange, clearing and settlement agency, dealer, investment adviser, dealer’s or investment adviser’s representative or as a share transfer agent to pay an annual fee in relation to the licence so granted.

1.3 Therefore, the Commission hereby guides all capital markets operators to pay annual licence fees by 31st December of every year.

1.4 For further enquiries please contact the Commission on +260 211 2270812/ 222368/ 222369 or info@seczambia.org.zm.

Dated the 14th day of DECEMBER 2018

[Signature] Phillip K. Chitalu CHIEF EXECUTIVE OFFICER BY ORDER OF THE BOARD

The Securities and Exchange Commission Directive on payment of annual licence fees, 2018