RegAlert
2020-12-29

Added · Updated

Securities (Victoria Falls Stock Exchange) (Levies, Fees and Charges) Rules 2020

The Zimbabwean Minister of Finance and Economic Development, approving rules drafted by the Securities and Exchange Commission, has established a comprehensive fee schedule for the Victoria Falls Stock Exchange. The regulations replace prior guidelines and prescribe fixed percentages for buying and selling transactions, covering broker commissions, VAT, depository levies, stamp duty, and regulatory charges. These components combine to yield a total transaction cost of 1.1870 percent for purchases and 0.9370 percent for sales, resulting in a grand total of 2.1240 percent per trade.

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Securities (Victoria Falls Stock Exchange) (Levies, Fees and Charges) Rules, 2020 1486 Supplement to the Zimbabwean Government Gazette Extraordinary dated the 21st October, 2020. Printed by the Government Printer, Harare. S.I. 246 of 2020 1485 Statutory Instrument 246 of 2020. [CAP. 24:25 Securities (Victoria Falls Stock Exchange) (Levies, Fees and Charges) Rules, 2020 IT is hereby notifi ed that the Minister of Finance and Economic Development has, in terms of section 118(6) of the Securities and Exchange Act [Chapter 24:25], approved the following rules made by the Securities and Exchange Commission of Zimbabwe:—

  1. These rules may be cited as the Securities (Victoria Falls
    Stock Exchange) (Levies, Fees and Charges) Rules, 2020.
  2. In these rules—
    “Victoria Falls Stock Exchange” means a securities exchange registered under the Act under conditions specifi ed under the Exchange Control Act [Chapter 22:05].
  3. Notwithstanding the Second Schedule to the Securities
    (Registration, Licensing and Corporate Governance) Rules, 2010, published in Statutory Instrument 100 of 2010, the levies, fees and charges applicable to the Victoria Falls Stock Exchange shall be as provided in the Schedule.
    SCHEDULE (Section 3)
    LEVIES, FEES AND CHARGES
    Type of charge Buying Selling
    Brokers Commission 0.6000% 0.6000% VAT (14.5% of brokerage) 0.0870% 0.0870% Central Securities Depository Levy 0.0400% 0.0400% Stamp Duty 0.2500% Nil VFEX Levy 0.1500% 0.1500% Securities and Exchange Commission of Zimbabwe Levy 0.0500% 0.0500% Investor Protection Fund 0.0100% 0.0100% Total 1.1870% 0.9370% Grand Total 2.1240%

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Securities (Registration, Licen…2020Securities (Registration, Licensing and Corporate Governance) Rules 2010 (2020-10-12)Securities (Victoria FallsStock Exchange) (Levies, Fees…2020-12-29 · this documentSecurities (Victoria Falls Stock Exchange) (Levies, Fees and Charges) Rules 2020 (2020-12-29)
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This document amends: Securities (Registration, Licensing and Corporate Governance) Rules 2010

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Source: Securities and Exchange Commission Zimbabwe — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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