Pro rata entitlement: listed entities must offer new securities first to existing equity shareholders and avoid unequal voting or dividend rights.

Regulation 41 restricts liens on shares to protect fully paid shareholdings and permits liens on partly paid shares only for moneys called at a fixed time; advance payments may bear interest but carry no dividend or profit participation rights. It prohibits issuing shares that create superior or inferior dividend or voting rights compared with already listed equity, requires initial offers of shares and related securities to be made pro rata to existing equity shareholders unless the general meeting decides otherwise, and mandates redemption of listed securities on a pro rata basis or by lot unless issue terms state otherwise.

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