CHAPTER 56:08
SECURITIES

ARRANGEMENT OF SECTIONS

    SECTION

Part I
Preliminary

    1.    Short title

    2.    Interpretation

Part II
Licence to Conduct Securities Business

    3.    Securities institution to be licensed

    4.    Licensing

    5.    Display of licence

    6.    Variation, suspension or cancellation of licence on request

    7.    Variation, suspension and cancellation of licence

    7A.    Removal of officer

    8.    Exemptions from and modifications of this Part

    9.    Matters to be considered in granting a licence to conduct securities business

Part III
Requirements of Securities Exchanges and Central Securities Depositories

    10.    Members’ requirements

    11.    Listings requirements

    12.    Penalties imposed by securities exchanges, central securities depository or Regulatory Authority

    13.    Rights of securities exchanges with respect to listing securities

    14.    Issuers or securities not meeting listings requirements

    15.    Review of refusal to list securities

    16.    Right of securities exchange to remove securities from list

    17.    New listings requirements may be applied to securities already listed

    18.    Trading requirements

    19.    Central securities depository requirements

    20.    Obligations of securities exchanges and central securities depositories

Part IV
General Provisions in Relation to Securities Business

    21.    Periodic disclosures and reports to be furnished to Regulatory Authority

    22.    Timely disclosures of material information in public interest

    23.    Off-market transactions in listed securities

    24.    Carrying on business in unlisted securities

    25.    Requirements affecting advertisements

    26.    Requirements affecting written comments on trading results

    27.    Fiduciary duty and duty of care and skill

    28.    Controller to be approved by Regulatory Authority

    29.    Delegation of powers

    30.    Securities institution to provide Regulatory Authority with information

    31.    Power of Regulatory Authority to amend requirements affecting securities institutions

    32.    Right of review for failure to comply

Part V
Conversion and Amalgamation

    33.    Conversion to a company

    34.    Amalgamation

Part VI
Insider Trading and Market Abuse

    35.    Information regarded as public

    36.    Insider trading and offences

    37.    Manipulative, improper, false or deceptive trading

    38.    Misleading statements, promises or forecasts

    39.    Civil liability

    40.    Profits to be determined by court and recoveries to be placed in fund

    41.    Procedural matters

    42.    Administration of this Part

    43.    Preservation of common law rights

Part VII
Regulation of Takeovers and Mergers

    44.    Definitions

    45.    Regulation of takeovers and mergers

Part VIII
[Repealed.]

    46.–49.    [Repealed.]

Part IX
Miscellaneous

    50.    Financial services law

    51.    Protection of securities exchanges and officers

    52.    Disclosure by securities institutions to be in public interest

    53.    Suspension of operations

    54.    Criminal offences

    55.    Prohibited use of certain words

    56.    Settlement Guarantee Fund requirements

    57.    Investor Compensation Fund requirements

    57A.    Segregation of funds

    58.    Rules

    58A.    Administrative sanctions

    59.    Regulations

Act 26, 2014,
S.I. 35, 2017,
Act 16, 2023,
S.I. 2, 2024.

An Act to consolidate and amend the laws relating to the regulation and supervision of the securities industry in Botswana; to make provision for the regulation and supervision of securities institutions and markets; to prohibit insider trading and other forms of market abuse; and to make provision for matters connected with the foregoing.

[Date of Commencement: 1st April 2017]

Part I
Preliminary (ss 1-2)

1. Short title

This Act may be cited as the Securities Act.