PUBLIC NOTICE NUMBER: CSD30/09/10
PROPOSED SECURITIES (CENTRAL SECURITIES DEPOSITORIES) RULES, 2010
The Securities Commission of Zimbabwe (SECZ) established by the Securities Act [Chapter 24:25] invites submissions on the proposed Securities (Central Securities Depositories) Rules, 2010. The rules cover the application requirements for setting up central securities depositories, admission of participants to the central securities depository, establishment of a guarantee fund and insurance policies to be maintained by the Central Securities Depository (CSD).
The proposed rules form the basis on which physical securities are immobilised and dematerialised by the depository, so that they exist only as electronic records. The depository system will effectively eliminate paper-based certificates. The collection of the proposed rules and submissions ( comments) can be made over fourteen days (14) days beginning 30th of September and ending 13th of October 2010.
All submissions shall be reviewed and changes made to the rules where SECZ deems it necessary. Thereafter the Rules shall be submitted to the Ministry of Finance for approval before they are gazetted as law.
The proposed rules are available at SECZ offices, SECZ Web- Site: www. seczim.co.zw and the Zimbabwe Stock Exchange (ZSE) offices.
The proposed rules are provided free of charge by email or upon payment of a nominal cost recovery charge for a hard copy.
This Public Notice has been placed by the Securities Commission in its quest to strengthen the integrity and soundness of the securities market, to protect investors, maintain fair, transparent, orderly and efficient development of capital markets.
Please send your comments as attachments to:
The Securities Commission of Zimbabwe
20 York Avenue, Newlands
04-776045/776206/706067
securitiescommission@seczim.co.zw,
securitiescommission@zol.co.zw
www.seczim.co.zw
CHIEF EXECUTIVE OFFICER
