Regulatory Alerts2025-05-19
Added · Updated
Securities (Registration of Securities) Regulations, 2020
These Regulations establish the procedural framework for the registration of securities and shelf registration under the Securities Act 2016, requiring issuers to file specific applications, fees, and comprehensive disclosure documents with the Commission. They define eligibility criteria for shelf registration, set a three-year validity period for registrations unless listed, and outline grounds for de-registration, including fraud or failure to comply with laws. The document mandates continuing obligations for issuers, such as timely disclosure of material information, publication of general meeting notices, and distribution of audited annual accounts. It also prescribes penalties for issuing false or misleading prospectuses, including fines and imprisonment for directors.