Permanent registration refusal consequences were omitted, ending the specified restriction on merchant-banking activities under the regulatory framework. Regulation 11 was omitted with effect from 8 December 2016. Before omission, refusal of a permanent-registration certificate required the applicant to ... Summary
Permanent registration refusal consequences were omitted, ending the specified restriction on merchant-banking activities under the regulatory framework.
Regulation 11 was omitted with effect from 8 December 2016. Before omission, refusal of a permanent-registration certificate required the applicant to refrain from merchant-banking activity from receipt of the refusal communication. In the interest of investors in the securities market, the Board could permit activities undertaken before receipt of that communication, subject to specified conditions.
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