RegAlertRule · BSEC · 28 Nov 2012
Order Regarding the Cancellation of Order No. SECI/CMARRCI/2001-50/167 Dated October 01, 2009
This order cancels Order No. SECI/CMARRCI/2001-50/167 dated October 01, 2009, which previously prohibited merchant bankers from providing margin loans for the purchase of securities newly listed on a stock exchange or securities changing category within thirty trading days. The cancellation removes these specific restrictions on margin lending for such securities. This directive is issued by the Securities and Exchange Commission of Bangladesh and takes effect immediately.
No. SECI/CMARRCI/2009-193/139 November 28, 2012
Order
In exercise of the powers conferred under Rule 36 of the Schedule to the Securities and Exchange Commission (Merchant Bankers and Portfolio Managers) Rules, 1996, regarding Direction No. 14 on the provision of margin loans, the following Order No. SECI/CMARRCI/2001-50/167 dated October 01, 2009, containing clauses 1 and 2 previously issued to merchant bankers, is hereby cancelled:
"1. No margin loan shall be provided for the purchase of any security newly listed on a stock exchange from the first trading day to the thirtieth trading day after its listing;
2. In the case of a change in the category of any security listed on a stock exchange, no margin loan shall be provided for the purchase of such security from the first trading day to the thirtieth trading day after the change in category."
This order shall take effect immediately.
By Order of the
Securities and Exchange Commission
Professor Dr. M. Khairul Hossain
Chairman
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