56
CAP. 333]
Securities
[1989 Ed.
(2) Subsection (1) does not require in the case of a circular or other written communication issued by a stockbroker the inclusion of a statement in relation to an interest that consists of the right to charge commission as provided by the rules of the Exchange Company on the sale or purchase of the securities or class of securities that are being recommended. (Amended 58 of 1985 s. 55)
(3) For the purposes of subsection (1), a person who has entered into an underwriting agreement in respect of any securities shall be deemed to have a financial interest in the sale or purchase of those securities.
(4) Where an offer to the public of securities is not fully subscribed, a person who has subscribed for or taken up, or is required to subscribe for or take up, any of those securities under an underwriting agreement shall not, during the period of 90 days after the close of the offer, make any offer or recommendation in respect of those securities unless the offer or recommendation contains or is accompanied by a statement to the effect that the offer or recommendation relates to securities that he has acquired, or is or will be required to acquire, under an underwriting agreement as a result of the offer to the public not being fully subscribed.
(5) Every circular or other written communication to which this section relates shall be dated and shall contain on its face the name of the dealer or investment adviser who issued it.
(6) A dealer or investment adviser who issues a circular or communication to which this section relates shall retain a copy of it bearing his signature in such manner, and for such time or until the happening of such event, as may be prescribed by regulations.
(7) For the purposes of this section, a circular or other written communication shall be deemed to have been issued by the person whose name is contained on its face.
(8) In this section a reference to securities does not include a reference to the stock or debentures of, or bonds made available by, a government or a local government authority, or to securities guaranteed by a government or a local government authority.
(9) Without prejudice to the power to make regulations under section 146, regulations may be made under that section-
(a) requiring the lodging with the Commission of copies of any circular or other written communication issued by a dealer or investment adviser; and (Amended 10 of 1989 s. 65)
(b) making provision for or with respect to the keeping of records of circulars or other similar written communications issued by a dealer or by an investment adviser.
(10) Any dealer or investment adviser, whether registered or exempted from registration, who-
(a) issues a circular or other written communication in contravention of subsection (1) or (5);
56
CAP. 333]
Securities
[1989 Ed.
(2) Subsection (1) does not require in the case of a circular or other written communication issued by a stockbroker the inclusion of a statement in relation to an interest that consists of the right to charge commission as provided by the rules of the Exchange Company on the sale or purchase of the securities or class of securities that are being recommended. (Amended 58 of 1985 s. 55)
(3) For the purposes of subsection (1), a person who has entered into an underwriting agreement in respect of any securities shall be deemed to have a financial interest in the sale or purchase of those securities.
(4) Where an offer to the public of securities is not fully subscribed, a person who has subscribed for or taken up, or is required to subscribe for or take up, any of those securities under an underwriting agreement shall not, during the period of 90 days after the close of the offer, make any offer or recommendation in respect of those securities unless the offer or recommendation contains or is accompanied by a statement to the effect that the offer or recommendation relates to securities that he has acquired, or is or will be required to acquire, under an underwriting agreement as a result of the offer to the public not being fully subscribed.
(5) Every circular or other written communication to which this section relates shall be dated and shall contain on its face the name of the dealer or investment adviser who issued it.
(6) A dealer or investment adviser who issues a circular or com- munication to which this section relates shall retain a copy of it bearing his signature in such manner, and for such time or until the happening of such event, as may be prescribed by regulations.
(7) For the purposes of this section, a circular or other written communication shall be deemed to have been issued by the person whose name is contained on its face.
(8) In this section a reference to securities does not include a reference to the stock or debentures of, or bonds made available by, a government or a local government authority, or to securities guaranteed by a government or a local government authority.
(9) Without prejudice to the power to make regulations under sec- tion 146, regulations may be made under that section-
(a) requiring the lodging with the Commission of copies of any circular or other written communication issued by a dealer or investment adviser; and (Amended 10 of 1989 s. 65)
(b) making provision for or with respect to the keeping of records of circulars or other similar written communications issued by a dealer or by an investment adviser.
(10) Any dealer or investment adviser, whether registered or exempted from registration, who-
(a) issues a cirular or other written communication in contravention
of subsection (1) or (5);
No comments yet.
Private notes are available after approval.