Regarding refund of application money for public offering

NOTIFICATION
October 01, 2009
No. SEC/CMRRCD/2008-183/Admin/03-35 Whereas, the Securities and Exchange Commission deems it fit that the consent already accorded by the Commission, or to be accorded by it in future, to the issue of capital in Bangladesh, or to the public offer of securities for sale, should be subject to certain further conditions in the interest of investors and the capital market; Now, therefore, in exercise of the power conferred by section 2CC of the Securities and Exchange Ordinance, 1969 (XVII of 1969), the Securities and Exchange Commission hereby imposes the following further conditions to the consent already accorded by it, or to be accorded by it in future, to the issue of capital in Bangladesh, or to the public offer of securities for sale, namely:- The issuer shall refund application money to the bank of the unsuccessful applicant of the public offer for onward deposit of the refund money into the applicant’s account as provided in the respective application form for subscription. This shall have immediate effect.

By order of the Securities and Exchange Commission Md. Ziaul Haque Khondker Chairman.