The Listing Regulations of the Dhaka Stock Exchange Limited

Topics: Stock market, Stock, U.S. Securities and Exchange Commission Pages: 38 (13365 words) Published: March 24, 2013
Notification No. SEC/Member-II, Dated 8th April 1996 In exercise of the powers conferred by section 34 (1) of the Securities and Exchange Ordinance, 1969 (XVII of 1969), the Dhaka Stock Exchange, with the previous approval of the Securities and Exchange Commission, pleased to make the following regulation, namely: -

I. 1.


Short title and extent of applicability: (1) These Regulations may be called the "Listing Regulations of the Dhaka Stock Exchange Limited” The Regulations shall apply to all companies and securities applying for listing and those listed on the Exchange.

(2) 2. (1) (i) (ii) (iii) (iv) (v)

In the Regulations, unless there is anything repugnant in the subject or context. "Act" means the Companies Act, 1994; "Council" means the Board of Councillors of the Exchange; "Commission" means the Securities and Exchange Commission; "Exchange" means the Dhaka Stock Exchange Limited; “Listed Company” means a company or a body corporate or a corporation or other body which has been listed in accordance with the regulations and whose securities are listed; "Listed security" shall include any share, scrip, debenture, term finance certificate, bond, pre-organization certificate or such other instruments as the Commission may, by notification in the Official Gazette, specify for the purpose and which is accepted for listing on the Exchange in accordance with the Regulations; "Ordinance" means the Securities & Exchange Ordinance, 1969 (XVII of 1969); "Prescribed" means prescribed by these Regulations or under authority hereof; "Regulations" means these listing Regulations of the Exchange for the time being in force; "Secretary" means the Secretary to the Exchange.


(vii) (viii) (ix) (x)


Words of expressions defined in the Act and the Ordinance shall, except those defined herein or where the subject or the context forbids, bear the same meaning as in the Act and the Ordinance or either of them and in the case of word or expression bears different meanings under both the Act. and the Ordinance that meaning which is carried or included in the Act shall prevail and have preferred application.

II. LISTING OF COMPANIES & SECURITIES 3. (1) No dealings in securities of a company shall be allowed on the Exchange either on the Ready quotation Board or Cleared List, unless the company or the securities have been listed and permission for such dealing has been granted in accordance with these Regulations. (2) The permission under sub-regulation (1) may be granted upon an application being made by the company or in respect of the securities in the manner prescribed at least ten days prior to issue of the first prospectus. The Exchange, in granting such permission will consider, among other things sufficiently of public interest in the company or the securities as determined by the Council in a welldefined way. (3) The Exchange shall decide the question of granting permission within a maximum period of six weeks from the date of closure of subscription lists. In case the permission is refused, the reasons thereof will be communicated to the applicant and the Commission within six weeks from the date of closure of subscription lists. (4) The Council will be the sole authority to grant, defer or refuse such permission and may for that purpose, relax any of these regulation subject only to two-third majority of the councillors present at such meeting of the council and so resolving by the majority of them. 4. (1) The application for listing shall be made by the applicant-company or on behalf of the security in the prescribed form and will be accompanied by the fees, specified in the Regulations. (2) The Council may require additional evidence, declarations, affirmations and information as also other forms to be filled up reasonable and relevant to application for listing, and all such requisitions shall be deemed to be prescribed...
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