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Securities Services Act, 2004 (Act No. 36 of 2004)

Chapter III : Exchanges

General provisions in relation to exchange

20. 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.

 

 


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