Thursday, August 07, 2014 7.58AM / Research
DOWNLOAD THE INVESTMENTS AND SECURITIES ACT(ISA) 2007
EXPLANATORY MEMORANDUM
The Act, amongst other things, provides for-
a) the establishment of Securities and Exchange Commission;
b) the repeal of the Investments and Securities Act 1999;
c) the enlarged powers and functions of the Commission over the capital market ; and
d) a set of new market infrastructures and wide-ranging system of regulation of investment and securities business in Nigeria, especially in the area of Mergers, Acquisitions and Take-Over, and collective Investment Schemes, where new provisions were made.
DOWNLOAD THE INVESTMENTS AND SECURITIES ACT(ISA) 2007
SECTIONS
· PART I— ESTABLISHMENT AND MANAGEMENT OF THE SECURITIES AND EXCHANGE COMMISSION
· PART II — FUNCTIONS AND POWERS OF THE COMMISSION
· PART III — STAFF OF THE COMMISSION
· PART IV — FINANCIAL PROVISIONS
· PART VI: REGISTRATION AND REGULATION OF CAPITAL MARKET OPERATORS
· PART VII: INSPECTIONS AND INVESTIGATIONS
· PART VIII: REGULATION OF SECURITIES
· PART IX: PUBLIC OFFER AND SALE OF SECURITIES AND INVITATIONS TO THE PUBLIC
· PART X: CONDUCT OF SECURITIES BUSINESS
· PART XI: TRADING IN SECURITIES
· PART XII: MERGERS, TAKE-OVERS AND ACQUISITIONS
· PART XIII: COLLECTIVE INVESTMENT SCHEMES
· PART XIV: INVESTORS PROTECTION FUND
· PART XV: BORROWING BY FEDERAL, STATE, AND LOCAL GOVERNMENTS AND THEIR AGENCIES.
· PART XVI: ESTABLISHMENT, JURISDICTION, AUTHORITY AND PROCEDURE OF THE INVESTMENTS AND SECURITIES TRIBUNAL
· PART XVII: MISCELLANEOUS
· PART XVIII: INTERPRETATION AND CITATION
DOWNLOAD THE INVESTMENTS AND SECURITIES ACT(ISA) 2007
LATEST Regulatory UPDATES