Professional Documents
Culture Documents
Prohibitions and Restrictions: Credit, Hypothecation and Lending of Customer's Securities
Prohibitions and Restrictions: Credit, Hypothecation and Lending of Customer's Securities
Prohibitions and Restrictions: Credit, Hypothecation and Lending of Customer's Securities
bank, or any financial institution or organization about transaction history. The person
conducting enquiry under the act is capable to call for documents, papers, bank account etc
regarding Stock Exchange issues with the power of Code of Civil Procedure and able to bring
judicial proceeding under the section of 193 and 228 of the Code of Civil Procedure for
misleading.
Penalties:
If any person (a company or other body corporate, every director, manager or other officer
responsible for the conduct of its affairs) regarding Stock Exchange and Securities issues
failure to provide information may be entitled to guilty, shall pay penalty not less than 0.1
million Taka and in case of conducting default of 10,000 thousand everyday that needs
further sum calculation to get right figure.
Revision and Review:
Any order regarding securities passed or made under this ordinance may be reviewed within
90 days to be final as well as it takes 6 months to make an application from the date of any
order passed under the subsection (1) to make the review final.
MISCELLANEOUS
Advisory Committee:
The committee may take a vital role regarding this ordinance and financial markets issues if
they think that new rules are fit to control or solve major problem in Stock Exchange. The
committee members should have sound knowledge about the subject matter of new rules,
crisis, issues, restrictions etc.
Delegation of Power:
The commission may be notified time to time by a specification that any restriction, impose,
limitations, conditions and many more regarding old and new issue securities that should be
exercised or performed also by any officer or authority subordinate to it or specially
appointed for the purpose.
Exemption:
Any person or institution wants to exempt his or her or its operations of securities or class of
securities, it is his or her or institutions responsibility to notify the Bangladesh Securities and
Exchange Commission under the official Gazette.
Securities Acquired in Good Faith:
A person with lawful considerations wants to be securities holder or a certificate of an equity
security, scrip, debenture, debenture stock or bond ant that should be held by a careful notice
with the concern of the Commission and finally A Stock Exchange may regulate the
documentation, procedures and guarantees required to transfer property in securities and the
effects, maintaining the respective legal rights and liabilities of the parties and such
regulations which is approved by
blank transfers,
regulation of broker house and its charge, procedure for the settlement of claims or disputes
etc. All regulations and powers made under this Ordinance shall be published in the official
Gazette in writing and if it already has done Stock Exchange should notify it to its interested
parties.