Notification regarding Amendment of Four Different Rules made under Securities and Exchange Ordinance, 1969

Notification regarding Amendment of Four Different Rules made under Securities and Exchange Ordinance, 1969

Whereas, under Section 33 of the Securities and Exchange Ordinance, 1969 (Ordinance No. XVIII of 1969), the Securities and Exchange Commission of Bangladesh, under Section 10 of the Securities and Exchange Commission Act, 1993, under Section 11 of the Securities and Exchange (Private) Rules, 2001, under Section 11 of the Securities and Exchange (Merchant Banking) Rules, 2006 and under Section 11 of the Securities and Exchange (Non-Banking Financial Institutions) Rules, 2015, it is expedient to amend the aforementioned rules in the public interest;

1. Securities and Exchange Rules, 1996:
   (a) In Rule 5 of the First Schedule, in sub-rule (2), the words "transfer of securities" shall be deleted and the words "transfer of securities" shall be inserted in their place.

(b) In Rule 5, after sub-rule (3), a new sub-rule (4) shall be inserted, which reads:
"(4) The transfer of securities shall be made in accordance with the provisions of the Securities and Exchange Ordinance:
Provided that the transfer of securities shall be made in accordance with the provisions of the Securities and Exchange Ordinance; and Provided further that the transfer of securities shall be made in accordance with the provisions of the Securities and Exchange Ordinance."

(c) After Rule 16, a new Rule 17 shall be inserted, which reads:
"17. Transfer of Securities. - The transfer of securities shall be made in accordance with the provisions of the Securities and Exchange Ordinance."

2. Securities and Exchange (Private) Rules, 2001:
   (a) In Rule 6, in sub-rule (1), the words "transfer of securities" shall be deleted and the words "transfer of securities" shall be inserted in their place.

(b) After Rule 7, a new Rule 8 shall be inserted, which reads:
"8. Transfer of Securities. - The transfer of securities shall be made in accordance with the provisions of the Securities and Exchange Ordinance."

3. Securities and Exchange (Merchant Banking) Rules, 2006:
   (a) In Rule 7, in sub-rule (2) of Part B, the words "transfer of securities" shall be deleted and the words "transfer of securities" shall be inserted in their place.

(b) After Rule 11, a new Rule 11A shall be inserted, which reads:
"11A. Transfer of Securities. - The transfer of securities shall be made in accordance with the provisions of the Securities and Exchange Ordinance."

4. Securities and Exchange (Non-Banking Financial Institutions) Rules, 2015:
   (a) In Rule 3, in sub-rule (2), the amount "50,000.00 (Fifty Thousand Taka)" shall be deleted and the amount "2,00,000.00 (Two Lakh Taka)" shall be inserted in its place.

(b) In Rule 3, in sub-rule (7), the amount "100,000.00 (One Lakh Taka)" shall be deleted and the amount "10,00,000.00 (Ten Lakh Taka)" shall be inserted in its place.

(c) In Rule 4, in sub-rule (1), the amount "50,000.00 (Fifty Thousand Taka)" shall be deleted and the amount "2,00,000.00 (Two Lakh Taka)" shall be inserted in its place.

(d) In Rule 9, in sub-rule (2), the amount "50,000.00 (Fifty Thousand Taka)" shall be deleted and the amount "2,00,000.00 (Two Lakh Taka)" shall be inserted in its place.

(e) In Rule 14, in sub-rule (2), the amount "10,000.00 (Ten Thousand Taka)" shall be deleted and the amount "50,000.00 (Fifty Thousand Taka)" shall be inserted in its place.

(f) In Rule 14, in sub-rule (7), the amount "25,000.00 (Twenty Five Thousand Taka)" shall be deleted and the amount "2,00,000.00 (Two Lakh Taka)" shall be inserted in its place.

(g) After Rule 14, sub-rule (7), a new sub-rule (8) shall be inserted, which reads:
"(8) The transfer of securities shall be made in accordance with the provisions of the Securities and Exchange Ordinance:
Provided that the transfer of securities shall be made in accordance with the provisions of the Securities and Exchange Ordinance."

(h) After Rule 27, a new Rule 28 shall be inserted, which reads:
"28. Transfer of Securities. - The transfer of securities shall be made in accordance with the provisions of the Securities and Exchange Ordinance."

This notification is published by the Securities and Exchange Commission of Bangladesh.

Mohammad Ismail Hossain, Deputy Director (Additional Secretary), Government of Bangladesh Press, Tejgaon, Dhaka.

Maksuda Begum Siddika, Deputy Director (Additional Secretary), Bangladesh Forms and Publications Office, Tejgaon, Dhaka.

Ref: 1.1.0000.000.00.00.00