CHAPTER 56:08
BOTSWANA STOCK EXCHANGE (TRANSITION)

 

ARRANGEMENT OF SECTIONS

 

   SECTION

 

PART I
Preliminary

 

   1.   Short title

 

   2.   Interpretation

 

PART II
Registration, Conversion and Financial Interest

 

   3.   Registration and continuation of Botswana Stock Exchange

 

   4.   Conversion of financial interest

 

   5.   Appointment of office holders

 

   6.   Employee Share Ownership Plan

 

   7.   Tax exemptions

 

PART III
Financial Provisions

 

   8.   Borrowing powers

 

   9.   Accounts and audit

 

PART IV
Miscellaneous

 

   10.   Investor Compensation Fund

 

   11.   Reference to certain terms

 

   12.   Repeal of Cap. 56:08

 

<TS:0.7875,RT,NO,1.18125,NM,NO,1.9375,NM,NO>   13.   Savings and Transitional provisions

Act 2, 2015,
S.I. 108, 2015.

An Act to provide for the registration of Botswana Stock Exchange as a public company limited by shares under the Companies Act; for its continued existence as if it had been incorporated under that Act, and for matters incidental thereto.

[Date of Commencement: 1st December 2015]

PART I
Preliminary (ss 1-2)

 

1.   Short title

   This Act may be cited as the Botswana Stock Exchange (Transition) Act.

 

2.   Interpretation

    In this Act, unless the context otherwise requires—

   “associate” means—

 

   (a)   controllers, managers, principal officers and directors of the Company, including their spouses and children above the age of 18 years; and

 

   (b)   any company which is a subsidiary, related company or holding company;

   “board” means the board of Directors of the Company referred to under section 5;

   “Company” means the Exchange as continued under section 3;

   “conversion date” means the date on which Botswana Stock Exchange is registered as a company;

   “Exchange” means the Botswana Stock Exchange established under the Botswana Stock Exchange Act;

   “Employee Share Ownership Plan” means a plan established under section 6 for the benefit of staff of the Company who are citizens;

   “Botswana Privatisation Asset Holding (Proprietary) Limited” means a company established by the Government for the purpose of holding assets from or in respect of, privatised public enterprises, with the object of the economic empowerment of citizens of Botswana;

   “Pension Fund” means the Botswana Stock Exchange Staff Pension Fund which is a defined contribution fund;

   “Registrar” means the Registrar of Companies appointed under the Companies Act;

   “Regulatory Authority” means the Non-Bank Financial Institutions Regulatory Authority established under section 6 of the Non-Bank Financial Institutions Regulatory Authority Act; and

   “securities broker” means a member of the Exchange who—

 

   (a)   carries on the business of purchasing and selling or purchasing or selling listed securities on behalf of other persons;

 

   (b)   regularly purchases and sells or purchases or sells listed securities on his or her own behalf; and

 

   (c)   is an associate of the persons in paragraphs (a) and (b).

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