s.3Stock Exchange Authority
3
Section 3Part 0 —

Stock Exchange Authority

←→ Navigate  ·  Click subsection badges to collapse  ·  Press ? for help

There is a Stock Exchange Authority which shall be responsible for the policy, regulation and supervision of the Exchange.
The Authority consists of —
the Financial Secretary;
the Inspector of Financial Services;
the Attorney General or his assignee; and
not less than two other members appointed by the Cabinet on the recommendation of the Minister charged with responsibility for Financial Services.
The other members of the Authority appointed by the Cabinet shall be appointed from among public officers who, in the opinion of the Minister charged with responsibility for Financial Services, have had experience of, and shown capacity in, commercial, financial or administrative matters.
The Cabinet may make regulations with respect to —
the tenure of members and vacation of office by the members of the Authority;
the quorum, procedure of meetings, and determinations of the Authority; and
the execution of instruments and the proof of documents purporting to be executed, issued or agreed by the Authority, the Chairman or any other member of the Authority.
Subject to any regulations made under subsection (4), the Authority shall have power to regulate its own procedure.
The members of the Authority shall, for and on behalf of the Government, incorporate the Exchange in accordance with the Companies Law (1995 Revision) within one month after the 1st August, 1996.

Cross References