Insolvency Act, No. 24 of 1936
R 385
Securities Services Act, 2004 (Act No. 36 of 2004)Chapter III : ExchangesGeneral provisions in relation to exchange20. Restriction on buying and selling unlisted securities |
(1) | The registrar may— |
(a) | prohibit a person from carrying on the business of buying or selling unlisted securities if that person carries on such business in a manner which defeats one or more of the objects of this Act referred to in section 2; |
(b) | impose conditions for the carrying on of such business; |
(c) | prescribe conditions in terms of which specified types of unlisted securities may be bought or sold. |
(2) | A person who buys unlisted securities from or sells unlisted securities to a person who contravenes or fails to comply with a prohibition or condition referred to in subsection (1) may cancel the transaction. |