INSERT INTO `actsofghana` (`id`, `title`, `content`, `republic`, `isshow`, `actname`) VALUES
(143, 'Central Securities Depository Act, 2007 Act 733 ', '<table>\r\n<tr>\r\n                                            <td vAlign="top" align="justify" width="1388" height="64">\r\n                                              <p class="MsoNormal">\r\n                                              <span style="font-family: Arial">&nbsp;</span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 62.4pt; margin-right: -.25pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \r\n                                              Central Securities Depository Act, \r\n                                              2007 </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Act 733 </span></b></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 96.0pt; margin-right: 3.85pt">&nbsp;</p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 96.0pt; margin-right: 3.85pt">\r\n                                              <span style="font-family: Arial">\r\n                                              ARRANGEMENT OF SECTIONS </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="line-height: 150%; text-autospace: none; margin-left: .25pt; margin-right: 3.85pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              Section </span></i></p>\r\n                                              <p class="MsoNormal" style="line-height: 150%; text-autospace: none; margin-left: 38.85pt; margin-right: 3.6pt">\r\n                                              <b><i>\r\n                                              <span style="font-family: Arial">\r\n                                              Establishment and functions of \r\n                                              central securities depository\r\n                                              </span></i></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.95pt; line-height: 150%; text-autospace: none; margin-left: 26.4pt; margin-right: 3.6pt">\r\n                                              1)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Establishment of a central \r\n                                              securities depository </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.95pt; line-height: 150%; text-autospace: none; margin-left: 25.4pt; margin-right: 3.6pt">\r\n                                              2)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Application procedure </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.95pt; line-height: 150%; text-autospace: none; margin-left: 25.4pt; margin-right: 3.6pt">\r\n                                              3)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Grant of application </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.95pt; line-height: 150%; text-autospace: none; margin-left: 25.4pt; margin-right: 3.6pt">\r\n                                              4)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Conditions for grant of \r\n                                              application </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.95pt; line-height: 150%; text-autospace: none; margin-left: 25.4pt; margin-right: 3.6pt">\r\n                                              5)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Alterations to central securities \r\n                                              depository rules by a depository\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 0cm; line-height: 150%; text-autospace: none; margin-left: 6.45pt; margin-right: 21.8pt">\r\n                                              6)<span style="font-family: Arial">&nbsp;&nbsp; \r\n                                              Amendment of a central securities \r\n                                              depository rules by the Commission\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 0cm; text-autospace: none; margin-left: 6.5pt; margin-right: 21.6pt">\r\n                                              7)<span style="font-family: Arial">. \r\n                                              &nbsp;Functions of a central securities \r\n                                              depository </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 6.5pt; margin-right: 3.6pt">\r\n                                              <span style="font-family: Arial">8 \r\n                                              . Fees </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.95pt; line-height: 150%; text-autospace: none; margin-left: 25.4pt; margin-right: 3.6pt">\r\n                                              9)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Appointment of participants for \r\n                                              central securities depository\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.2pt; text-autospace: none; margin-left: 25.9pt; margin-right: 3.6pt">\r\n                                              10)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Directions by central securities \r\n                                              depository </span></p>\r\n                                              <p class="MsoNormal" style="line-height: 150%; text-autospace: none; margin-left: 1.2pt; margin-right: 3.6pt">\r\n                                              <span style="font-family: Arial">\r\n                                              11. Central securities depository \r\n                                              to provide assistance to the \r\n                                              Commission </span></p>\r\n                                              <p class="MsoNormal" style="line-height: 150%; text-autospace: none; margin-left: 88.8pt; margin-right: 3.6pt">\r\n                                              <b><i>\r\n                                              <span style="font-family: Arial">\r\n                                              Admitted and dematerialised \r\n                                              securities </span></i></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.2pt; line-height: 150%; text-autospace: none; margin-left: 26.15pt; margin-right: 3.6pt">\r\n                                              12)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Issue of uncertificated or \r\n                                              demateria1ised securities </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.4pt; line-height: 150%; text-autospace: none; margin-left: 26.4pt; margin-right: 3.6pt">\r\n                                              13)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Admittance of securities </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.4pt; line-height: 150%; text-autospace: none; margin-left: 26.4pt; margin-right: 3.6pt">\r\n                                              14)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Verification of certificates and \r\n                                              transfer to a central securities \r\n                                              depository </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.4pt; line-height: 150%; text-autospace: none; margin-left: 26.4pt; margin-right: 3.6pt">\r\n                                              15)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Trading of eligible securities\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.4pt; line-height: 150%; text-autospace: none; margin-left: 26.4pt; margin-right: 3.6pt">\r\n                                              16)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Restriction on trade in eligible \r\n                                              securities &quot; </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.4pt; line-height: 150%; text-autospace: none; margin-left: 26.4pt; margin-right: 3.6pt">\r\n                                              17)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Receipt of certificates of \r\n                                              eligible securities for safe \r\n                                              custody </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.4pt; line-height: 150%; text-autospace: none; margin-left: 26.4pt; margin-right: 3.6pt">\r\n                                              18)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Liability of a central securities \r\n                                              depository for loss or damage of \r\n                                              certificates </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.4pt; line-height: 150%; text-autospace: none; margin-left: 26.4pt; margin-right: 3.6pt">\r\n                                              19)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Withdrawal ofimmobi1ised \r\n                                              securities </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.4pt; line-height: 150%; text-autospace: none; margin-left: 26.4pt; margin-right: 3.6pt">\r\n                                              20)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Trading of securities withdrawn \r\n                                              from central securities depository\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.4pt; line-height: 150%; text-autospace: none; margin-left: 26.4pt; margin-right: 3.6pt">\r\n                                              21)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Withdrawal of prescribed \r\n                                              securities prohibited </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.4pt; line-height: 150%; text-autospace: none; margin-left: 26.4pt; margin-right: 3.6pt">\r\n                                              22)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Demateria1isation of securities\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.4pt; line-height: 150%; text-autospace: none; margin-left: 26.4pt; margin-right: 3.6pt">\r\n                                              23)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Central securities depository to \r\n                                              maintain official record of \r\n                                              depositors </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.4pt; line-height: 150%; text-autospace: none; margin-left: 26.4pt; margin-right: 3.6pt">\r\n                                              24)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Issuer not to issue certificates \r\n                                              in respect of demateria1ised \r\n                                              securities </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.4pt; line-height: 150%; text-autospace: none; margin-left: 26.4pt; margin-right: 3.6pt">\r\n                                              25)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Effect of reference to records in \r\n                                              a central securities depository\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 0cm; line-height: 150%; text-autospace: none; margin-left: .2pt; margin-right: 137.75pt">\r\n                                              26)<span style="font-family: Arial">&nbsp;&nbsp; \r\n                                              Application to collective \r\n                                              investment schemes </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 0cm; line-height: 150%; text-autospace: none; margin-left: .2pt; margin-right: 137.75pt">\r\n                                              27)<span style="font-family: Arial">. \r\n                                              &nbsp;Rules in respect of \r\n                                              demateria1ised securities </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="line-height: 150%; text-autospace: none; margin-left: 107.25pt; margin-right: 3.6pt">\r\n                                              <b><i>\r\n                                              <span style="font-family: Arial">\r\n                                              Securities accounts and records\r\n                                              </span></i></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.2pt; line-height: 150%; text-autospace: none; margin-left: 26.15pt; margin-right: 3.6pt">\r\n                                              28)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Dealers in book-entry securities \r\n                                              to hold securities account </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.4pt; line-height: 150%; text-autospace: none; margin-left: 26.4pt; margin-right: 3.6pt">\r\n                                              29)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Issuance of statements of accounts\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.4pt; line-height: 150%; text-autospace: none; margin-left: 26.4pt; margin-right: 3.6pt">\r\n                                              <i>30)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              Duty of central securities \r\n                                              depository to keep records and <i>\r\n                                              accounts </i></span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -25.4pt; line-height: 150%; text-autospace: none; margin-left: 26.4pt; margin-right: 3.6pt">\r\n                                              31)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Audit of records and accounts\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="line-height: 150%; text-autospace: none; margin-left: 100.05pt; margin-right: 10.8pt">\r\n                                              <b><i>\r\n                                              <span style="font-family: Arial">\r\n                                              Securities transactions and \r\n                                              entries </span></i></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: -24.7pt; line-height: 150%; text-autospace: none; margin-left: 26.1pt; margin-right: 10.8pt">\r\n                                              32)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Evidence of transactions in \r\n                                              respect of deposited securities\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 26.85pt; margin-right: 10.8pt">\r\n                                              33)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Provision of record of depositors \r\n                                              to issuers </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 26.85pt; margin-right: 10.8pt">\r\n                                              34)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Depositor to be treated as member \r\n                                              or debenture holder </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 26.85pt; margin-right: 10.8pt">\r\n                                              35)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Register of Depositors </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 26.85pt; margin-right: 10.8pt">\r\n                                              36)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Termination and set-off </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 26.85pt; margin-right: 10.8pt">\r\n                                              37)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Prohibition in dealings in book \r\n                                              -entry securities </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 26.85pt; margin-right: 10.8pt">\r\n                                              38)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Public offer of securities </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 26.85pt; margin-right: 10.8pt">\r\n                                              39)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Corporate actions </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 26.85pt; margin-right: 10.8pt">\r\n                                              40)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Underwriters to open securities \r\n                                              accounts </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; text-autospace: none; margin-left: 26.85pt; margin-right: 10.8pt">\r\n                                              41)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Charging of securities </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .65pt; margin-right: 10.8pt">\r\n                                              <span style="font-family: Arial">\r\n                                              42. Securities in or under \r\n                                              suspense </span></p>\r\n                                              <p class="MsoNormal" style="line-height: 150%; text-autospace: none; margin-left: 75.3pt; margin-right: 10.8pt">\r\n                                              <b><i>\r\n                                              <span style="font-family: Arial">\r\n                                              Security, secrecy and \r\n                                              investigation provisions </span>\r\n                                              </i></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: -24.7pt; line-height: 150%; text-autospace: none; margin-left: 26.1pt; margin-right: 10.8pt">\r\n                                              43)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Security measures </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 26.85pt; margin-right: 10.8pt">\r\n                                              44)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Duty to maintain secrecy </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 26.85pt; margin-right: 10.8pt">\r\n                                              45)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Permitted disclosures </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 26.85pt; margin-right: 10.8pt">\r\n                                              46)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Regulation of access to computer \r\n                                              system </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 26.85pt; margin-right: 10.8pt">\r\n                                              47)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Power of the Commission to require \r\n                                              production of records </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 26.85pt; margin-right: 10.8pt">\r\n                                              48)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Power of Commission to enter and \r\n                                              search premises </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 26.85pt; margin-right: 10.8pt">\r\n                                              49)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Disclosure to Commission </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 26.85pt; margin-right: 10.8pt">\r\n                                              50)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Investigation by Commission </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 26.85pt; margin-right: 10.8pt">\r\n                                              51)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Power of Court to make orders\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="line-height: 150%; text-autospace: none; margin-left: 124.75pt; margin-right: 11.05pt">\r\n                                              <b><i>\r\n                                              <span style="font-family: Arial">\r\n                                              Miscellaneous provisions </span>\r\n                                              </i></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: -24.7pt; line-height: 150%; text-autospace: none; margin-left: 26.35pt; margin-right: 11.05pt">\r\n                                              52)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Preservation of records and \r\n                                              accounts </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 27.1pt; margin-right: 11.05pt">\r\n                                              53)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Guarantee Fund </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 27.1pt; margin-right: 11.05pt">\r\n                                              54)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Falsification of records or \r\n                                              accounts </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 27.1pt; margin-right: 11.05pt">\r\n                                              55)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Destruction, concealment, or \r\n                                              alteration of records </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 27.1pt; margin-right: 11.05pt">\r\n                                              56)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Furnishing false or misleading \r\n                                              information </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 27.1pt; margin-right: 11.05pt">\r\n                                              57)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Offences by bodies corporate\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 27.1pt; margin-right: 11.05pt">\r\n                                              58)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              General penalty </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 27.1pt; margin-right: 11.05pt">\r\n                                              59)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Regulations </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 27.1pt; margin-right: 11.05pt">\r\n                                              60)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Interpretation </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 27.1pt; margin-right: 11.05pt">\r\n                                              61)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              References </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -23.75pt; line-height: 150%; text-autospace: none; margin-left: 27.1pt; margin-right: 11.05pt">\r\n                                              62)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\r\n                                              </span>\r\n                                              <span style="font-family: Arial">\r\n                                              Consequential amendments </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 80.4pt; margin-right: .25pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \r\n                                              THE SEVEN HUNDRED AND THIRTY-THIRD\r\n                                              </span></b></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 151.2pt; margin-right: .25pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \r\n                                              ACT </span></b></p>\r\n                                              <p class="MsoNormal" align="center" style="text-align: center; text-autospace: none; margin-left: 22.05pt; margin-right: 22.55pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              OF THE PARLIAMENT OF THE REPUBLIC \r\n                                              OF GHANA </span></b></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 22.05pt; margin-right: 22.55pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \r\n                                              &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \r\n                                              ENTITLED </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 29.25pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \r\n                                              THE CENTRAL SECURITIES DEPOSITORY \r\n                                              ACT, 2007 </span></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: -24.2pt; text-autospace: none; margin-left: 24.2pt; margin-right: 1.2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              AN ACT to establish central \r\n                                              securities depositories to \r\n                                              regulate dealings in securities \r\n                                              and to provide for related \r\n                                              matters. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 97.9pt; text-autospace: none; margin-left: .2pt; margin-right: 98.4pt">\r\n                                              <span style="font-family: Arial">\r\n                                              DATE OF ASSENT: <i>16th May, 2007\r\n                                              </i>ENACTED by the President and \r\n                                              Parliament: </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 38.6pt; text-autospace: none; margin-left: .2pt; margin-right: 39.1pt">\r\n                                              <b><i>\r\n                                              <span style="font-family: Arial">\r\n                                              Establishment and functions of \r\n                                              central securities depository\r\n                                              </span></i></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: 38.6pt; text-autospace: none; margin-left: .2pt; margin-right: 39.1pt">\r\n                                              <span style="font-family: Arial">\r\n                                              Establishment of a central \r\n                                              securities depository </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 12.2pt; text-autospace: none; margin-left: .2pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              1. A central securities depository \r\n                                              may be established by a company \r\n                                              registered under the Companies \r\n                                              Code, 1963 (Act 179). </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              Application procedure </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 12.2pt; text-autospace: none; margin-left: .2pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              2. (1) A person who intends to \r\n                                              establish or operate a central \r\n                                              securities deposi­tory shall, \r\n                                              apply in writing to the \r\n                                              Commission. </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 26.85pt; text-autospace: none; margin-left: .2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) The application shall be in \r\n                                              writing and accompanied by central \r\n                                              securities depository rules made \r\n                                              by the applicant in a manner and \r\n                                              form prescribed by the Commission \r\n                                              and shall provide for </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -20.6pt; text-autospace: none; margin-left: 104.6pt">\r\n                                              <span style="font-family: Arial">(i) \r\n                                              the proper and efficient \r\n                                              operation, management and \r\n                                              maintenance of the central \r\n                                              depository; </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none">\r\n                                              <span style="font-family: Arial">&nbsp;</span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -20.85pt; text-autospace: none; margin-left: 104.6pt; margin-right: 2.65pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (ii) the clearing and settlement \r\n                                              service to facilitate buying, \r\n                                              selling and other dealings in \r\n                                              securities and the operations of \r\n                                              the depository service; </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -20.85pt; text-autospace: none; margin-left: 104.6pt; margin-right: 2.65pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (iii) the confidentiality and \r\n                                              protection of information and \r\n                                              documents related to the affairs \r\n                                              of persons holding securities \r\n                                              accounts with the central \r\n                                              securities depository and the \r\n                                              securities accounts held by them; \r\n                                              and </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 83.7pt; margin-right: .05pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (iv) any other information that \r\n                                              the Commission may prescribe.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .65pt; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Grant of application </span></b>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 12.2pt; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              3. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              The Commission shall grant an \r\n                                              application in writing if it is \r\n                                              satisfied that </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.2pt; margin-right: 2.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              the proposed central securities \r\n                                              depository rules of the applicant \r\n                                              are rules approved by the \r\n                                              Commission, </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.75pt; text-autospace: none; margin-left: 66.2pt; margin-right: 3.15pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              the establishment and maintenance \r\n                                              of the central securities \r\n                                              depository, promote the positive \r\n                                              development of securities market \r\n                                              in the country, and </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.45pt; margin-right: .05pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (c) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              the interest of the public \r\n                                              dealings with securities, will be \r\n                                              served. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .65pt; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Conditions for grant of \r\n                                              application </span></b></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 12.2pt; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              4. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              The Commission may, impose \r\n                                              conditions in relation to </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-autospace: none; margin-left: 48.65pt; margin-right: 73.95pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              the paid-up or authorised capital \r\n                                              of the depository, <i>(b) </i>the \r\n                                              shareholding of the members of the \r\n                                              depository, </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.2pt; margin-right: 2.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (c) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              the appointment of the board of \r\n                                              directors and management of the \r\n                                              depository, and </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.2pt; margin-right: 2.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (d) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              any other matters that the \r\n                                              Commission considers appropriate \r\n                                              in approving an application.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .65pt; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Alterations to central securities \r\n                                              depository rules by a depository\r\n                                              </span></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: 11.75pt; text-autospace: none; margin-left: .9pt; margin-right: .5pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              5. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) A depository shall not amend \r\n                                              its rules, except with the prior \r\n                                              approval of the Commission. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: 26.85pt; text-autospace: none; margin-left: .9pt; margin-right: 1.45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A depository which intends to \r\n                                              amend its rules shall apply in \r\n                                              writing to the Commission. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: 26.85pt; text-autospace: none; margin-left: .9pt; margin-right: 1.45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) The Commission shall within \r\n                                              thirty days after receipt of the \r\n                                              application communicate its \r\n                                              decision in writing to the \r\n                                              depository. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .65pt; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Amendment </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              of a <b>central securities \r\n                                              depository rules by the Commission\r\n                                              </b></span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 11.75pt; text-autospace: none; margin-left: .9pt; margin-right: .5pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              6. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) The Commission may amend the \r\n                                              central securities depository \r\n                                              rules after consultation with the \r\n                                              depository. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 26.85pt; text-autospace: none; margin-left: .9pt; margin-right: 1.45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) The Commission shall in \r\n                                              writing specify any amendments \r\n                                              made and the date on which the \r\n                                              amendment shall come into force.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none">\r\n                                              <span style="font-family: Arial">&nbsp;</span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -12.0pt; text-autospace: none; margin-left: 12.0pt; margin-right: 158.6pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Functions of a central securities \r\n                                              depository </span></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: -12.0pt; text-autospace: none; margin-left: 12.0pt; margin-right: 158.6pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7. </span></b>\r\n                                              <span style="font-family: Arial">A \r\n                                              depository shall </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.7pt; text-autospace: none; margin-left: 67.9pt; margin-right: 3.6pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              facilitate the admittance of \r\n                                              securities into the central \r\n                                              securities depository; </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 49.9pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              facilitate the deposit and \r\n                                              withdrawal of certificates in \r\n                                              respect of </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 17.75pt; text-autospace: none; margin-left: 48.2pt; margin-right: 64.55pt">\r\n                                              <span style="font-family: Arial">\r\n                                              securities admitted in the central \r\n                                              securities depository; <i>(c) </i>\r\n                                              facilitate the dematerialisation \r\n                                              of securities accounts;</span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-right: 64.55pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<i>(d) </i>open, \r\n                                              maintain and close securities \r\n                                              accounts; </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -18.0pt; text-autospace: none; margin-left: 66.45pt; margin-right: 5.75pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (e) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              establish a proper and efficient \r\n                                              system for the verification, \r\n                                              inspection, identification and \r\n                                              recording of book -entry \r\n                                              securities with the central \r\n                                              depository; </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 49.9pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (f) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              facilitate the efficient transfer \r\n                                              of book-entry securities; </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.7pt; text-autospace: none; margin-left: 67.9pt; margin-right: 3.6pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (g) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              facilitate the efficient process \r\n                                              of cash payment in exchange for \r\n                                              securities; </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 49.9pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (h) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              facilitate the registration of \r\n                                              dealings in book -entry \r\n                                              securities; </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.7pt; text-autospace: none; margin-left: 67.9pt; margin-right: 3.6pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">(i)\r\n                                              </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              operate securities accounts for \r\n                                              the handling of book-entry \r\n                                              securities and cash; </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 0cm; text-autospace: none; margin-left: 49.4pt; margin-right: 4.3pt">\r\n                                              0)<span style="font-family: Arial">designate \r\n                                              one or more banks as a settlement \r\n                                              partner for the settlement of \r\n                                              funds in respect of transactions \r\n                                              cleared through a depository; <i>\r\n                                              (k) </i>facilitate the efficient \r\n                                              collection of fees and other \r\n                                              charges that may be required;\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.7pt; text-autospace: none; margin-left: 67.9pt; margin-right: 3.6pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (1) guard against falsification of \r\n                                              any records or accounts required \r\n                                              to be kept or maintained under \r\n                                              this Act; and </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.0pt; text-autospace: none; margin-left: 68.15pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (m) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              perform other functions that are \r\n                                              necessary to ensure orderly \r\n                                              dealings· in admitted or \r\n                                              dematerialised securities, or as \r\n                                              the Commission may from time to \r\n                                              time prescribe. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 2.8pt; margin-right: .75pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Fees </span></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: 11.75pt; text-autospace: none; margin-left: 3.05pt; margin-right: 3.6pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              8. </span></b>\r\n                                              <span style="font-family: Arial">A \r\n                                              depository shall charge such fees \r\n                                              for its services and facilities as \r\n                                              approved by the Commission. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 2.8pt; margin-right: .75pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Appointment </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              of participants <b>for a central \r\n                                              securities depository </b></span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: 11.75pt; text-autospace: none; margin-left: 3.05pt; margin-right: 3.6pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              9. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) A central securities \r\n                                              depository may appoint \r\n                                              participants comprising the \r\n                                              following in writing: </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 50.1pt; margin-right: .75pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">a \r\n                                              licensed dealing member of a stock \r\n                                              exchange, </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.7pt; text-autospace: none; margin-left: 68.1pt; margin-right: 4.35pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">a \r\n                                              registrar, custodian, stockbroker, \r\n                                              or a person licensed by the \r\n                                              Commission as a dealer in \r\n                                              securities, </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 49.9pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (c) </span></i>\r\n                                              <span style="font-family: Arial">a \r\n                                              unit trust scheme or mutual fund \r\n                                              licensed by the Commission, </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 49.9pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (d) </span></i>\r\n                                              <span style="font-family: Arial">a \r\n                                              person licensed by the Bank of \r\n                                              Ghana as a bank under the Banking \r\n                                              Act 2004, (Act 673) or as a \r\n                                              Non-Bank finanicial institution \r\n                                              under the Financial Institutions \r\n                                              (Non-Banking) Law 1993 (P.N.D.C.L. \r\n                                              328); <i>(e) </i>an institutional \r\n                                              investor, or </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 49.9pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (f) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              &nbsp;a body corporate of a type \r\n                                              prescribed by the Commission.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: .2pt; text-autospace: none; margin-left: 28.55pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A person shall not act as \r\n                                              participant of a depository unless \r\n                                              the person is duly appointed by \r\n                                              the relevant depository. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 28.55pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) A central securities \r\n                                              depository participant shall\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.75pt; text-autospace: none; margin-left: 67.4pt; margin-right: .7pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              perform functions approved for the \r\n                                              depository under the Central \r\n                                              securities depository rules, and\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.5pt; text-autospace: none; margin-left: 66.0pt; margin-right: .45pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              produce or make available to the \r\n                                              depository or to the Commission \r\n                                              when required, any information or \r\n                                              document relating to a securities \r\n                                              account. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .95pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Directions by central securities \r\n                                              depository </span></b></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 12.95pt; text-autospace: none; margin-left: .45pt; margin-right: .95pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              10. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) A depository may, give \r\n                                              directions to an issuer of \r\n                                              securities or a partici­pant in \r\n                                              performing its functions under \r\n                                              this Act, and the issuer or \r\n                                              participant shall com­ply with the \r\n                                              directions. </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 27.35pt; text-autospace: none; margin-left: .45pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) An issuer or participant who \r\n                                              fails to comply with directions \r\n                                              given by a depository commits an \r\n                                              offence and is liable on summary \r\n                                              conviction to a fine of not more \r\n                                              than five hundred penalty units or \r\n                                              a term of imprisonment of not more \r\n                                              than five years or t? both. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .7pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Central securities depository to \r\n                                              provide assistance to the \r\n                                              Commission </span></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: 12.7pt; text-autospace: none; margin-left: .2pt; margin-right: 1.2pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              11. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) A depository shall provide \r\n                                              assistance to the Commission for \r\n                                              the perfor­mance of its functions.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 33.6pt; text-autospace: none; margin-right: .95pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) The Commission and its agents \r\n                                              shall have access to any part of \r\n                                              the premises of a depository at \r\n                                              reasonable times to ensure \r\n                                              compliance with this Act:&quot; </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 89.0pt">\r\n                                              <b><i>\r\n                                              <span style="font-family: Arial">\r\n                                              Admitted and dematerialised \r\n                                              securities </span></i></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: -12.2pt; text-autospace: none; margin-left: 12.45pt; margin-right: 115.4pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Issue of uncertificated or \r\n                                              dematerialised securities</span></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: -12.2pt; text-autospace: none; margin-left: 12.45pt; margin-right: 115.4pt">\r\n                                              <span style="font-family: Arial">\r\n                                              12.<b> </b></span>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) An issuer of securities to the \r\n                                              public may </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.5pt; text-autospace: none; margin-left: 66.0pt; margin-right: .45pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              issue a security in uncertificated \r\n                                              or dematerialised form where it is \r\n                                              authorised in its regulations and \r\n                                              authorised by a resolution of its \r\n                                              board of directors, </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.5pt; text-autospace: none; margin-left: 66.0pt; margin-right: .45pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              convert a certificated security \r\n                                              into an uncertificated security \r\n                                              where it is authorised in its \r\n                                              regulations and by a resolution of \r\n                                              its board of directors . </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: 35.75pt; text-autospace: none; margin-left: .45pt; margin-right: 4.05pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A person may opt to hold a \r\n                                              certificated security or a \r\n                                              security in book ­entry form with \r\n                                              a depository. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 35.75pt; text-autospace: none; margin-left: .45pt; margin-right: 4.05pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) Where a person opts to hold a \r\n                                              security with a depository, the \r\n                                              issuer shall give to the \r\n                                              depository, details of the \r\n                                              allotted security. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 35.75pt; text-autospace: none; margin-left: .45pt; margin-right: 4.05pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (4) The depository shall on \r\n                                              receipt of details of the allotted \r\n                                              security enter it in its records \r\n                                              in the name of the allottee as the \r\n                                              beneficial owner of the security.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .95pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Admittance of securities </span>\r\n                                              </b></p>\r\n                                              <p class="MsoNormal" style="text-indent: 12.45pt; text-autospace: none; margin-left: .45pt; margin-right: 4.3pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              13. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) Subject to subsection (2), a \r\n                                              stock exchange may, after \r\n                                              consultation with a central \r\n                                              securities depository, prescribe \r\n                                              that any security </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 49.9pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              listed or quoted, or </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 49.9pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              proposed to be listed or quoted,\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .95pt; margin-right: 3.8pt">\r\n                                              <span style="font-family: Arial">\r\n                                              on the stock exchange, be admitted \r\n                                              by depositing the security with \r\n                                              the central securities depository.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.2pt; text-autospace: none; margin-left: .95pt; margin-right: 2.85pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A stock exchange shall give \r\n                                              notice to the public of all \r\n                                              eligible securities prescribed by \r\n                                              it to be admitted into a \r\n                                              depository in respect of \r\n                                              securities listed or quoted on the \r\n                                              stock exchange. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 35.75pt; text-autospace: none; margin-left: .45pt; margin-right: 4.05pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) The deposit by a person of an \r\n                                              eligible security with a \r\n                                              depository partici­pant shall be \r\n                                              considered to be a deposit of the \r\n                                              security with that central \r\n                                              depository. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 36.7pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (4) A central securities \r\n                                              depository shall hold securities \r\n                                              in book-entry form only. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .95pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Verification of certificates and \r\n                                              transfer to a central securities \r\n                                              depository </span></b></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 12.45pt; text-autospace: none; margin-left: 1.9pt; margin-right: .45pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              14. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) A depository or its \r\n                                              participant shall lodge the \r\n                                              certificate and instrument with \r\n                                              the issuer within the period \r\n                                              prescribed in the central \r\n                                              securities depository rules after \r\n                                              deposit of a certificate \r\n                                              representing an eligible security \r\n                                              and an instrument of transfer in \r\n                                              respect of that security. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 32.85pt; text-autospace: none; margin-left: 2.6pt; margin-right: 1.4pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) The issuer shall register the \r\n                                              transfer of the security in \r\n                                              respect of the certificates in the \r\n                                              name of the depository or its \r\n                                              nominee company on receipt of the \r\n                                              certificate and instrument. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 36.7pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) The issuer shall refuse \r\n                                              registration of the transfer where\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 68.6pt; margin-right: 1.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              the certificate is not a genuine \r\n                                              certificate or is a certificate \r\n                                              that has been reported lost or \r\n                                              destroyed, and </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 49.9pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              in relation to any security,\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -20.85pt; text-autospace: none; margin-left: 108.0pt; margin-right: .2pt">\r\n                                              <span style="font-family: Arial">(i) \r\n                                              there has been a duplication in \r\n                                              the issue of the certificate \r\n                                              representing that security, </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -20.85pt; text-autospace: none; margin-left: 108.0pt; margin-right: .2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (ii) a certificate has been issued \r\n                                              in excess of the issued capital of \r\n                                              the issuer, or </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -20.85pt; text-autospace: none; margin-left: 108.0pt; margin-right: .2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (iii) the issuer has been served \r\n                                              with an order of a Court \r\n                                              prohibiting dealing in respect of \r\n                                              the security underlying the \r\n                                              certificate. </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 34.55pt; text-autospace: none; margin-right: .95pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &nbsp;(4) The issuer shall, in any case \r\n                                              other than a case referred to in \r\n                                              subsection (3), cancel a \r\n                                              certificate and substitute in its \r\n                                              records the name of the depository \r\n                                              or its nominee as a registered \r\n                                              owner in respect of that security \r\n                                              and inform the depository. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: 36.0pt; text-autospace: none; margin-left: .2pt; margin-right: .95pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (5) A depository shall enter the \r\n                                              name of the depositor in its \r\n                                              records as the beneficial owner.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 34.55pt; text-autospace: none; margin-right: .95pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (6) Where an issuer refuses \r\n                                              registration of a transfer, the \r\n                                              issuer shall serve on the \r\n                                              transferor and the central \r\n                                              securities depository, a written \r\n                                              notice giving rea­sons for the \r\n                                              refusal. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 36.0pt; text-autospace: none; margin-left: .2pt; margin-right: .95pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (7) An instrument of transfer \r\n                                              lodged with an issuer may be \r\n                                              registered in the name of a \r\n                                              depository or its nominee company.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 33.35pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (8) This section does not apply to \r\n                                              bearer securities. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .2pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Trading of eligible securities\r\n                                              </span></b></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .2pt; margin-right: .95pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              15. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) This Act applies to trading in \r\n                                              eligible securities during the \r\n                                              period beginning on the day \r\n                                              immediately after the notification \r\n                                              date and ending on the admission \r\n                                              date. (2) A depository or \r\n                                              depository participant, shall \r\n                                              accept a certificate repre­senting \r\n                                              an eligible security to be \r\n                                              admitted for the purpose of \r\n                                              settlement of any trade on a stock \r\n                                              exchange in accordance with the \r\n                                              central securities depository \r\n                                              rule. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 36.0pt; text-autospace: none; margin-left: .2pt; margin-right: .95pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) Section 14 shall apply to \r\n                                              depository agents and issuers with \r\n                                              whom the documents referred to in \r\n                                              subsection (2) of this section \r\n                                              have been lodged. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .2pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Restriction on trade in eligible \r\n                                              securities </span></b></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 12.2pt; text-autospace: none; margin-left: .45pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              16. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) A person shall not trade in \r\n                                              any eligible security on a stock \r\n                                              exchange, after the admission \r\n                                              date, unless the security has been \r\n                                              deposited with a depository in \r\n                                              accordance wi th this Act. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 34.55pt; text-autospace: none; margin-right: .95pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) Despite subsection (1), an \r\n                                              eligible security may be deposited \r\n                                              at the depository after the \r\n                                              admission date at any time subject \r\n                                              to the additional fees, that may \r\n                                              be imposed under the central \r\n                                              securities depository rules.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .2pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Receipt of certificates of \r\n                                              eligible securities for safe \r\n                                              custody </span></b></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 12.2pt; text-autospace: none; margin-left: .45pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              17. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) A depository may prescribe a \r\n                                              date by notice after which a \r\n                                              member of a stock exchange may not \r\n                                              receive a certificate representing \r\n                                              an eligible security for safe \r\n                                              custody. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 33.35pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A depository shall give notice \r\n                                              to the public of the date \r\n                                              prescribed. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .45pt; margin-right: .95pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Liability of a central securities \r\n                                              depository for loss or damage of \r\n                                              certificates 18. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) A depository and its \r\n                                              participants are liable to a \r\n                                              depositor for any loss or damage \r\n                                              in respect of a certificate \r\n                                              deposited by a depositor with the \r\n                                              central securi­ties depository or \r\n                                              depository participant. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: 32.85pt; text-autospace: none; margin-left: .7pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) Despite subsection (1), a \r\n                                              depository is not liable for loss \r\n                                              or damage of a certificate the \r\n                                              transfer of which is not capable \r\n                                              of registration. </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 32.85pt; text-autospace: none; margin-left: .2pt; margin-right: .2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) Subsection (2) shall not \r\n                                              relieve a depository participant \r\n                                              from any obli­gation imposed on \r\n                                              the depository participant by the \r\n                                              rules of a stock exchange-in its \r\n                                              capacity as a member of the stock \r\n                                              exchange to effect buying-in \r\n                                              resulting from a refusal of an \r\n                                              issuer to register a transfer.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .45pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Withdrawal of immobilised \r\n                                              securities </span></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: 11.75pt; text-autospace: none; margin-left: .7pt; margin-right: .45pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              19. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) A depositor may, withdraw a \r\n                                              security standing to the credit of \r\n                                              the depositor''s securities account \r\n                                              on application to the depository.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 32.85pt; text-autospace: none; margin-left: .2pt; margin-right: .2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) Where an application for the \r\n                                              withdrawal of a deposited security \r\n                                              is made and the appropriate \r\n                                              notification and withdrawal \r\n                                              documents are received by the \r\n                                              issuer or its share registry in \r\n                                              accordance with the rules of the \r\n                                              central securities depository, the \r\n                                              issuer or its share registry, \r\n                                              shall complete and deliver to the \r\n                                              central securities depository \r\n                                              certificates in connection with \r\n                                              the transfer of the securities \r\n                                              within 14 days after the date of \r\n                                              receipt of the withdrawal \r\n                                              documents to be forwarded to the \r\n                                              participant. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 33.35pt; text-autospace: none; margin-left: .45pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) Despite subsection (1) \r\n                                              withdrawals are not allowed for \r\n                                              government securities. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .45pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Trading of securities withdrawn \r\n                                              from central securities depository\r\n                                              </span></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: 11.75pt; text-autospace: none; margin-left: .7pt; margin-right: .45pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              20. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) A person shall not trade \r\n                                              securities withdrawn from a \r\n                                              depository on a stock exchange \r\n                                              unless the security is \r\n                                              re-deposited in a depository.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 32.85pt; text-autospace: none; margin-left: .2pt; margin-right: .2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A security which is \r\n                                              re-deposited with a central \r\n                                              securities depository shall not be \r\n                                              utilised to settle a transaction \r\n                                              which took place on a stock \r\n                                              exchange prior to the re-deposit \r\n                                              of that security. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 33.35pt; text-autospace: none; margin-left: .45pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) Section 15 relating to \r\n                                              eligible securities shall apply in \r\n                                              respect of a re­deposited \r\n                                              security. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .45pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Withdrawal </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              of prescribed <b>securities \r\n                                              prohibited </b></span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 11.75pt; text-autospace: none; margin-left: .7pt; margin-right: .45pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              21. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) A person shall not withdraw \r\n                                              from a depository, security which \r\n                                              is pre­scribed as a dematerialised \r\n                                              security. </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 32.85pt; text-autospace: none; margin-left: .2pt; margin-right: .2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A stock exchange may, with the \r\n                                              prior approval of the Commission, \r\n                                              restrict or prohibit the \r\n                                              withdrawal of a security or class \r\n                                              of securities which is listed or \r\n                                              quoted by the stock exchange for a \r\n                                              period and in a manner as it \r\n                                              considers appropriate. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 33.35pt; text-autospace: none; margin-left: .45pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) Where a stock exchange \r\n                                              restricts or prohibits the \r\n                                              withdrawal of book­entry \r\n                                              securities the stock exchange \r\n                                              shall </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.45pt; margin-right: 113.25pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              inform the depository of the \r\n                                              decision, and <i>(b) </i>give \r\n                                              notice to the public of </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -20.6pt; text-autospace: none; margin-left: 104.85pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">(i) \r\n                                              the book-entry securities \r\n                                              restricted or prohibited from \r\n                                              withdrawal, and </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 84.2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (ii) the period of the restriction \r\n                                              or prohibition. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none">\r\n                                              <span style="font-family: Arial">&nbsp;</span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .2pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Dematerialisation of securities\r\n                                              </span></b></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 12.2pt; text-autospace: none; margin-right: 1.9pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              22. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) A depository may in \r\n                                              consultation with the Commission, \r\n                                              prescribe a period after which \r\n                                              securities or a class of \r\n                                              securities held or to be held by \r\n                                              the depository shall be \r\n                                              dematerialised in accordance with \r\n                                              the process laid down under the \r\n                                              central securities depository \r\n                                              rules. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 32.85pt; text-autospace: none; margin-left: .7pt; margin-right: .7pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) An issuer of a dematerialised \r\n                                              security shall be notified by the \r\n                                              depository, of the decision taken \r\n                                              in accordance with subsection (1).\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 33.6pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) An issuer of a dematerialised \r\n                                              security shall </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -20.85pt; text-autospace: none; margin-left: 105.35pt; margin-right: .95pt">\r\n                                              <span style="font-family: Arial">(i) \r\n                                              give notice to the public that the \r\n                                              security shall, on the \r\n                                              dematerialisation date, become a \r\n                                              dematerialised security; and\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -20.85pt; text-autospace: none; margin-left: 105.35pt; margin-right: .95pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (ii) take necessary steps to amend \r\n                                              its Regulations, deed of \r\n                                              establishment, trust deed, or \r\n                                              enabling statute, as the case may \r\n                                              be, to comply with this Act and \r\n                                              the central securities depository \r\n                                              rules within a period stipulated \r\n                                              in the notice upon being notified \r\n                                              of the decision. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 32.85pt; text-autospace: none; margin-left: .7pt; margin-right: .7pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (4) A notice of dematerialisation \r\n                                              shall specify a dematerialisation \r\n                                              date of not less than one month \r\n                                              from the date of publication of \r\n                                              the notice. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .95pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Central securities depository to \r\n                                              maintain official record of \r\n                                              depositors </span></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: 12.0pt; text-autospace: none; margin-left: .95pt; margin-right: 1.4pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              23. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) Every issuer of a security \r\n                                              prescribed as a dematerialised \r\n                                              security, shall on or after the \r\n                                              dematerialisation date </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.95pt; margin-right: .7pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              surrender the physical register of \r\n                                              members or debenture holders to \r\n                                              the depository, and </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.75pt; text-autospace: none; margin-left: 66.95pt; margin-right: .45pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              provide information to the central \r\n                                              securities depository of any \r\n                                              member or debenture holder who \r\n                                              appears in the appropriate \r\n                                              register as a holder of a \r\n                                              certificate not already admitted \r\n                                              by the depository. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 36.2pt; text-autospace: none; margin-left: .95pt; margin-right: .7pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A depository shall maintain an \r\n                                              official Register which shall \r\n                                              include the name and particulars \r\n                                              of </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.95pt; margin-right: .7pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              each depositor with a security \r\n                                              credited to a securities account \r\n                                              held by the depositor, and </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.75pt; text-autospace: none; margin-left: 66.95pt; margin-right: .45pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              each member or debenture holder \r\n                                              whose name appear under the \r\n                                              appropriate register of members or \r\n                                              debenture holders of the company.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 32.85pt; text-autospace: none; margin-left: .7pt; margin-right: .7pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) Despite sections 32 and 96 of \r\n                                              the Companies Code relating to \r\n                                              register of members and debenture \r\n                                              holders, a record of depositors \r\n                                              maintained shall </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 49.4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              contain information in \r\n                                              computerised record form; and\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.95pt; margin-right: .7pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              contain any other information as \r\n                                              may be required under the central \r\n                                              security depository rules. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 33.1pt; text-autospace: none; margin-right: 2.45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (4) This section shall not apply \r\n                                              to any bearer security, or be \r\n                                              construed as making the depository \r\n                                              an agent of the issuer for the \r\n                                              purpose of providing registra­tion \r\n                                              services. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Issuer not to issue certificates \r\n                                              in respect of dematerialised \r\n                                              securities </span></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: 11.5pt; text-autospace: none; margin-left: .2pt; margin-right: 1.25pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              24. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              An issuer shall not issue a \r\n                                              certificate in respect of a \r\n                                              dematerialised security after the \r\n                                              dematerialisation date. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .2pt; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Effect </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              of reference <b>to records in a \r\n                                              central securities depository </b>\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 11.75pt; text-autospace: none; margin-right: 1.95pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              25. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) With effect from the date of \r\n                                              dematerialisation and despite the \r\n                                              provi­sions of the Companies Code \r\n                                              or the Regulations of the issuer, \r\n                                              a reference in respect of a \r\n                                              dematerialised security to </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.5pt; text-autospace: none; margin-left: 66.2pt; margin-right: .5pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">a \r\n                                              register of members or debenture \r\n                                              holders including branch \r\n                                              registers, maintained by a company \r\n                                              under the Companies Code is a \r\n                                              reference to the record of \r\n                                              depositors maintained by the \r\n                                              depository, </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.5pt; text-autospace: none; margin-left: 66.2pt; margin-right: .5pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">a \r\n                                              transfer of shares or debentures \r\n                                              under the Companies Code is a \r\n                                              reference to a book-entry transfer \r\n                                              performed by the depository, and\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.5pt; text-autospace: none; margin-left: 66.2pt; margin-right: .5pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (c) a certificate, or an \r\n                                              instrument of transfer \r\n                                              representing any security which is \r\n                                              used as prima facie evidence of \r\n                                              ownership of that security is a \r\n                                              reference to a statement of \r\n                                              account issued by the central \r\n                                              securities depository. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 36.0pt; text-autospace: none; margin-left: .2pt; margin-right: 1.25pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) Sections 32 and 96 of the \r\n                                              Companies Code shall not apply to \r\n                                              a dematerialised security. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .2pt; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Application to collective \r\n                                              investment schemes </span></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: 11.5pt; text-autospace: none; margin-left: .2pt; margin-right: 1.25pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              26. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) With effect from the \r\n                                              dematerialisation date and despite \r\n                                              any provision in a trust deed of a \r\n                                              collective investment scheme, a \r\n                                              reference to </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.0pt; margin-right: .75pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">a \r\n                                              register of a collective \r\n                                              investment scheme, is a reference \r\n                                              to the record of depositors \r\n                                              maintained by the depository,\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.5pt; text-autospace: none; margin-left: 66.2pt; margin-right: .5pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">a \r\n                                              transfer of interest in a \r\n                                              collective investment scheme from \r\n                                              one investor to another, is a \r\n                                              reference to a book-entry transfer \r\n                                              by the central securities \r\n                                              depository, and </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.0pt; margin-right: .75pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (c) a certificate issued as \r\n                                              evidence of an interest in a \r\n                                              collective investment scheme, is a \r\n                                              statement of account issued by the \r\n                                              depository. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .2pt; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Rules in respect of dematerialised \r\n                                              securities </span></b></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 12.45pt; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              27. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              The Commission may prescribe rules \r\n                                              in respect of dematerialised \r\n                                              securities </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.5pt; text-autospace: none; margin-left: 66.2pt; margin-right: .5pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              to effect the replacement of \r\n                                              physical registers with book-entry \r\n                                              records where the dematerialised \r\n                                              security is a security other than \r\n                                              a share or debenture under the \r\n                                              Companies Code, or an interest in \r\n                                              a collective investment scheme, \r\n                                              and </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 65.45pt; margin-right: 3.6pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              to specify forms for recording \r\n                                              interest in securities standing to \r\n                                              the credit of any depositor before \r\n                                              the dematerialisation date. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .45pt; margin-right: 78.95pt">\r\n                                              <b><i>\r\n                                              <span style="font-family: Arial">\r\n                                              Securities accounts and records\r\n                                              </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              Dealers in book-entry securities \r\n                                              to hold securities account </span>\r\n                                              </b></p>\r\n                                              <p class="MsoNormal" style="text-indent: 11.75pt; text-autospace: none; margin-left: .45pt; margin-right: 3.35pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              28. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) A person shall not deal in \r\n                                              book-entry securities unless the \r\n                                              person holds a securities account \r\n                                              with a central securities \r\n                                              depository. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 32.85pt; text-autospace: none; margin-left: .45pt; margin-right: 1.2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A depository may establish \r\n                                              different types of securities \r\n                                              accounts for different classes of \r\n                                              persons or securities. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 33.3pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) An entry in a securities \r\n                                              account in respect of a \r\n                                              transaction shall </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.65pt; margin-right: 1.4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              in the case of a securities \r\n                                              account established and maintained \r\n                                              directly by a central securities \r\n                                              depository be considered to have \r\n                                              been made by, or with the \r\n                                              authority of, the central \r\n                                              securities depository; and </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.65pt; margin-right: 1.4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              in the case of a securities \r\n                                              account established through, and \r\n                                              maintained by a depository agent \r\n                                              on behalf of a depository, be \r\n                                              considered as having been made by, \r\n                                              or with the authority of, the \r\n                                              depository agent. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 36.65pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (4) A record of an entry in a \r\n                                              securities account in respect of a \r\n                                              transaction </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .65pt">\r\n                                              <span style="font-family: Arial">\r\n                                              in book-entry securities shall be \r\n                                              prima facie evidence of the \r\n                                              matters recorded. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .9pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Issuance of statements of accounts\r\n                                              </span></b></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 12.2pt; text-autospace: none; margin-left: .45pt; margin-right: 2.15pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              29. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) A depository shall issue \r\n                                              statements of accounts to \r\n                                              depositors, in respect of \r\n                                              book-entry securities held by or \r\n                                              registered in the name of the \r\n                                              depository or its nominee company \r\n                                              for the depositors at a time and \r\n                                              in a manner prescribed. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 33.1pt; text-autospace: none; margin-left: .45pt; margin-right: .7pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) Despite subsection (1), a \r\n                                              depositor may, require the \r\n                                              depository to issue by written \r\n                                              notice to the depositor, a \r\n                                              statement of accounts in respect \r\n                                              of book-en try securities held by \r\n                                              or registered in the name of the \r\n                                              depository or its nominee com­pany \r\n                                              on behalf of the depositor. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 33.1pt; text-autospace: none; margin-left: .45pt; margin-right: .7pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) A depository shall on receipt \r\n                                              of a written notice and upon \r\n                                              payment of charges which may be \r\n                                              imposed under the central \r\n                                              securities depository rules, issue \r\n                                              to the depositor the statement of \r\n                                              account required. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 32.85pt; text-autospace: none; margin-left: .45pt; margin-right: 1.2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (4) A statement of accounts issued \r\n                                              under this section is evidence of \r\n                                              truth of the matters specified in \r\n                                              that statement of account. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -11.75pt; text-autospace: none; margin-left: 12.65pt; margin-right: 22.05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Duty of central securities \r\n                                              depository to keep records and \r\n                                              accounts </span></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: -11.75pt; text-autospace: none; margin-left: 12.65pt; margin-right: 22.05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              30. </span></b>\r\n                                              <span style="font-family: Arial">A \r\n                                              depository shall keep records and \r\n                                              accounts to show particulars of .\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.65pt; margin-right: 1.4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              transfers of book-entry securities \r\n                                              to and from a securities account,\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.65pt; margin-right: 1.4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              income received from commissions, \r\n                                              fees, charges and other sources, \r\n                                              and expenses, commissions, and \r\n                                              other payments made or paid by the \r\n                                              central securities depository, and\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 6.75pt; text-autospace: none; margin-left: 36.0pt; margin-right: 4.1pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (c) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              assets and liabilities including \r\n                                              contingent liabilities of the \r\n                                              central securities depository.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 9.0pt; text-autospace: none; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Audit of records and accounts\r\n                                              </span></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: 9.0pt; text-autospace: none; margin-right: 4.35pt">\r\n                                              <span style="font-family: Arial">\r\n                                              31. (1) A depository shall cause \r\n                                              an audit to be conducted in \r\n                                              respect of its records and \r\n                                              accounts at the end of each \r\n                                              financial year. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 9.0pt; text-autospace: none; margin-right: 4.35pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) The audit shall include a \r\n                                              verification of the accuracy of \r\n                                              the details shown in the records \r\n                                              and accounts. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 9.0pt; text-autospace: none; margin-right: 4.1pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) The depository shall submit a \r\n                                              copy of a duly certified audit \r\n                                              report to the Commission within \r\n                                              ninety days after the end of the \r\n                                              financial year. </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 9.0pt; text-autospace: none; margin-right: 1.0pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (4) The Commission may, by notice \r\n                                              in writing, direct that an audit \r\n                                              be con­ducted of an aspect of or \r\n                                              all of a central depository''s \r\n                                              operations at the expense of the \r\n                                              central security depository.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 9.0pt; text-autospace: none; margin-right: 80.45pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              Securities transactions and \r\n                                              entries </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              Evidence of transactions in \r\n                                              respect of deposited securities\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 9.0pt; text-autospace: none; margin-right: .05pt">\r\n                                              <span style="font-family: Arial">\r\n                                              32. A transaction in respect of a \r\n                                              deposited security by a depositor\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 9.0pt; text-autospace: none; margin-right: 4.1pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              whether accompanied by an \r\n                                              instrument or not shall be by \r\n                                              entry in the securities account of \r\n                                              the depositor, and </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 9.0pt; text-autospace: none; margin-right: .75pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              shall include a deposit of an \r\n                                              eligible security and a trade or \r\n                                              transfer of a book-entry from a \r\n                                              securities account to another \r\n                                              securities account maintained by \r\n                                              the depository. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 9.0pt; text-autospace: none; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Provision of record of depositors \r\n                                              to issuers </span></b></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 9.0pt; text-autospace: none; margin-right: 2.45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              33. (1) An issuer of a book-entry \r\n                                              security may by written notice \r\n                                              require a depository to furnish it \r\n                                              with a record of the depositors in \r\n                                              whose securities accounts, \r\n                                              securities are credited as at the \r\n                                              date of the notice. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 9.0pt; text-autospace: none; margin-right: .05pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A record of depositors </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 9.0pt; text-autospace: none; margin-right: .75pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              required by an issuer shall be \r\n                                              issued by the depository within \r\n                                              the period specified in the notice \r\n                                              and in any case before the expiry \r\n                                              of a period specified under the \r\n                                              central securities depository \r\n                                              rules; </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 9.0pt; text-autospace: none; margin-right: .75pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              issued in response to a request \r\n                                              made by an issuer shall contain \r\n                                              the name, identity card, passport \r\n                                              number or company number and \r\n                                              statement or the number of \r\n                                              book-entry securities held in \r\n                                              favour of each depositor; </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 9.0pt; text-autospace: none; margin-right: .75pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (c) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              obtained by an issuer shall be \r\n                                              available for inspection by a \r\n                                              member of an issuer without the \r\n                                              payment of a fee but may be \r\n                                              inspected by any other person on \r\n                                              payment of a fee to the \r\n                                              depository, in respect of each \r\n                                              inspection. </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 9.0pt; text-autospace: none; margin-right: 1.0pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) A member of an issuer or any \r\n                                              other person may require the \r\n                                              issuer to furnish him with a copy \r\n                                              of the record of depositors or a \r\n                                              part of it on the payment of a \r\n                                              fee, commensurate to the quantum \r\n                                              of information requested. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none">\r\n                                              <span style="font-family: Arial">\r\n                                              &nbsp;(4) The copy of the record of \r\n                                              depositors, or a part of it shall \r\n                                              be supplied t( the person who \r\n                                              required the copy within a period \r\n                                              of twenty-one days or within c . \r\n                                              longer period that the Commission \r\n                                              considers reasonable after the \r\n                                              date of receipt 0 the request by \r\n                                              the issuer. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 5.25pt">\r\n                                              <span style="font-family: Arial">\r\n                                              Depositor to be treated as member \r\n                                              or debenture holder </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 12.0pt; text-autospace: none; margin-left: 4.3pt">\r\n                                              <span style="font-family: Arial">\r\n                                              34. (1) A depository shall be the \r\n                                              registered owner of a security for \r\n                                              the &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;purposes of \r\n                                              effecting transfer of ownership of \r\n                                              that security on behalf of a \r\n                                              depositor. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 32.85pt; text-autospace: none; margin-left: 4.8pt; margin-right: 16.8pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A depository as a registered \r\n                                              owner shall not have voting rights \r\n                                              or any other rights in respect of \r\n                                              securities held by it. </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 32.85pt; text-autospace: none; margin-left: 5.25pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) A depositor of a book-entry \r\n                                              security whose name appears in the \r\n                                              recon of depositors is entitled to \r\n                                              rights, benefits, powers and \r\n                                              privileges and to liabilities \r\n                                              duties and obligations in respect \r\n                                              of the security as if the \r\n                                              depositor were a member or \r\n                                              debenture holder registered in an \r\n                                              appropriate register maintained by \r\n                                              the issuer 0 the security, in \r\n                                              accordance with the Companies Code \r\n                                              or any other law. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 5.75pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (4) Despite the Companies Code, a \r\n                                              depositor is not entitled to \r\n                                              attend general meeting of a \r\n                                              company, speak or vote at the \r\n                                              meeting unless the depositor'' name \r\n                                              appears on the depository register \r\n                                              forty-eight hours prior to the \r\n                                              general meeting (5) A depository \r\n                                              or its nominee company shall not \r\n                                              have an interest i deposited \r\n                                              securities registered in its name, \r\n                                              or be a bare trustee. </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 32.85pt; text-autospace: none; margin-left: 5.25pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (6) For the purpose of this \r\n                                              section, &quot;deposited security&quot; does \r\n                                              not include security specified in \r\n                                              the securities account as being in \r\n                                              suspension under this Act c rules \r\n                                              made by the Commission. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 5.25pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Register of Depositors </span></b>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 5.75pt">\r\n                                              <span style="font-family: Arial">\r\n                                              35. (1) Persons named as \r\n                                              depositors in a Register of De \r\n                                              positors shall, for the period \r\n                                              that the deposited securities are \r\n                                              entered against their names in the \r\n                                              Register b <i>(a) </i>members of \r\n                                              the company in respect of the \r\n                                              amount of deposited securities \r\n                                              entered against their respective \r\n                                              names in the Register c \r\n                                              Depositors; or </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 72.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              holders of the amount of the \r\n                                              issuer''s deposited securities \r\n                                              other that shares entered against \r\n                                              their names in the Register of \r\n                                              Depositors. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 42.45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) This Act shall not affect\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 72.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              the obligation of a company to \r\n                                              keep a register of its members, an \r\n                                              allow inspection of the register \r\n                                              under the Companies Code; </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.75pt; text-autospace: none; margin-left: 72.45pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              the obligation of a company to \r\n                                              keep a register of holders ( \r\n                                              debentures issued by the company \r\n                                              and allow inspection of the \r\n                                              register under the Companies Code;\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 72.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (c) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              the obligation of all issuer other \r\n                                              than a company to keep a register \r\n                                              ( the holders of securities issued \r\n                                              by the issuer; </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.75pt; text-autospace: none; margin-left: 65.0pt; margin-right: 4.05pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (d) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              the right of a depositor to \r\n                                              withdraw documents showing title \r\n                                              to securities, from the depository \r\n                                              at anytime in accordance with the \r\n                                              central securities depository \r\n                                              rules and to register them in the \r\n                                              depositor''s name; or </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.75pt; text-autospace: none; margin-left: 65.0pt; margin-right: 4.05pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (e) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              the enjoyment of a right, power or \r\n                                              privilege, or the imposition of a \r\n                                              liability, duty or obligation \r\n                                              under the Companies Code, or any \r\n                                              other enactment, instrument, or \r\n                                              Regulations of a company on a \r\n                                              depositor, as a member of a \r\n                                              company or as a holder of \r\n                                              debentures or securities, except \r\n                                              to the extent provided for in this \r\n                                              Act or prescribed by regulations \r\n                                              made under this Act. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 1.65pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Termination and set-off </span>\r\n                                              </b></p>\r\n                                              <p class="MsoNormal" style="text-indent: -28.55pt; text-autospace: none; margin-left: 40.8pt; margin-right: 35.5pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              36. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) The Central Securities \r\n                                              Depository may terminate its \r\n                                              agreement <i>, (a) </i>to clear or \r\n                                              settle securities transactions, or\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.95pt; margin-right: .95pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              to act as a depository for \r\n                                              securities </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .7pt; margin-right: 2.85pt">\r\n                                              <span style="font-family: Arial">\r\n                                              with an insolvent participant or \r\n                                              with a participant in respect of \r\n                                              whom insolvency or bankruptcy \r\n                                              proceedings are commenced. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: 36.0pt; text-autospace: none; margin-left: .95pt; margin-right: 2.6pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) Where the central securities \r\n                                              depository terminates its \r\n                                              agreement, the depository may\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.95pt; margin-right: .95pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              set-off obligations between the \r\n                                              insolvent participant and the \r\n                                              depository in accordance with the \r\n                                              provisions of the agreement, and\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.95pt; margin-right: .95pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              if there is a net termination sum \r\n                                              owed to the depository by the \r\n                                              insolvent participant, the \r\n                                              depository shall be considered as \r\n                                              a creditor of the insolvent \r\n                                              participant in respect of that net \r\n                                              termination sum. </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.2pt; text-autospace: none; margin-left: 1.4pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) The depository may realise \r\n                                              assets of the insolvent or \r\n                                              bankrupt partici­pant because of a \r\n                                              pledge in favour of the central \r\n                                              securities depository or because \r\n                                              of the central securities \r\n                                              depository rules or guarantees \r\n                                              established by the depository in \r\n                                              accordance with the central \r\n                                              securities depository rules.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 1.65pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Prohibition in dealings in \r\n                                              book-entry securities </span></b>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 12.0pt; text-autospace: none; margin-left: 2.15pt; margin-right: .45pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              37. </span></b>\r\n                                              <span style="font-family: Arial">A \r\n                                              depository shall not purchase, \r\n                                              acquire, or deal in book-entry \r\n                                              securities as principal other than \r\n                                              for a purpose and in a manner that \r\n                                              may be permitted by the \r\n                                              Commission. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 1.65pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Public offer of securities </span>\r\n                                              </b></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 12.0pt; text-autospace: none; margin-left: 2.15pt; margin-right: .45pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              38. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) Where a stock exchange or a \r\n                                              depository prescribes any \r\n                                              securities pro­posed to be listed \r\n                                              or quoted on a stock exchange to \r\n                                              be immobilised or dematerialised, \r\n                                              the issuer of the security shall \r\n                                              notify the public that the \r\n                                              security is prescribed in the \r\n                                              prospectus or other offer document \r\n                                              issued. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 32.85pt; text-autospace: none; margin-left: .45pt; margin-right: .05pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) Upon completion of the \r\n                                              allotment or allocation of the \r\n                                              security, the issuer or offer or \r\n                                              shall </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.5pt; text-autospace: none; margin-left: 65.75pt; margin-right: .05pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              confirm with the central \r\n                                              securities depository the record \r\n                                              of the successful applicants \r\n                                              together with information required \r\n                                              by the central securities \r\n                                              depository in order to make \r\n                                              appropriate entries in the \r\n                                              securities accounts of the \r\n                                              respective applicants, and </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.5pt; text-autospace: none; margin-left: 65.75pt; margin-right: .05pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              deliver to the central securities \r\n                                              depository the certificates, if \r\n                                              any, in denominations specified by \r\n                                              the central depository registered \r\n                                              in the name of the central \r\n                                              securities depository or its \r\n                                              nominee company. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 33.35pt; margin-right: .05pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) For the purposes of this \r\n                                              section </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.75pt; text-autospace: none; margin-left: 66.0pt; margin-right: .05pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;offer or in relation to a \r\n                                              security&quot; means the person \r\n                                              offering the security for sale.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.5pt; text-autospace: none; margin-left: 65.75pt; margin-right: .05pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;a reference to a security \r\n                                              proposed to be listed on a stock \r\n                                              exchange'' means a reference to a \r\n                                              security which has been approved \r\n                                              by the Commission to be listed on \r\n                                              the stock exchange. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .2pt; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Corporate actions </span></b></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 12.0pt; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              39. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) Where an issuer, in relation \r\n                                              to book-entry securities </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.5pt; text-autospace: none; margin-left: 65.75pt; margin-right: .05pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              makes a bonus issue of shares by \r\n                                              way of an increase in its total \r\n                                              issued capital, or issue \r\n                                              securities because of a rights \r\n                                              issue or the conversion of debt \r\n                                              securities, or </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.75pt; text-autospace: none; margin-left: 66.0pt; margin-right: .05pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              issues securities because of an \r\n                                              exercise of a right or option to \r\n                                              acquire securities in the share \r\n                                              capital of the issuer. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-right: .05pt">\r\n                                              <span style="font-family: Arial">\r\n                                              the issuer shall notify the \r\n                                              central securities depository and \r\n                                              deliver to the central securities \r\n                                              depository </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -19.9pt; text-autospace: none; margin-left: 104.6pt; margin-right: .05pt">\r\n                                              <span style="font-family: Arial">(i). \r\n                                              a confirmed list of the names of \r\n                                              the allottees for the purpose of \r\n                                              amendment of the securities \r\n                                              accounts held by the allottee, and\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -19.9pt; text-autospace: none; margin-left: 104.6pt; margin-right: .05pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (ii) the appropriate certificates, \r\n                                              if any, in denominations that may \r\n                                              be specified by the central \r\n                                              securities depository registered \r\n                                              in the name of the central \r\n                                              securities depository or its \r\n                                              nominee company. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 32.85pt; text-autospace: none; margin-left: .45pt; margin-right: .05pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A prospective allottee shall, \r\n                                              open a securities account with the \r\n                                              central: securities depository \r\n                                              before acquiring any security.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .2pt; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Underwriters to open securities \r\n                                              accounts </span></b></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 11.75pt; text-autospace: none; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              40. </span></b>\r\n                                              <span style="font-family: Arial">A \r\n                                              person who intends to underwrite \r\n                                              securities proposed to be listed \r\n                                              on : stock exchange, or rights \r\n                                              issue in respect of a book-entry \r\n                                              security, shall open &nbsp;securities \r\n                                              account with the central \r\n                                              securities depository. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .7pt; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Charging of securities </span></b>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 12.0pt; text-autospace: none; margin-right: 2.2pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              41. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) Where a security deposited \r\n                                              with a depository is charged by a \r\n                                              depositor referred to as &quot;the \r\n                                              charger&quot; in favour of a person \r\n                                              referred to as &quot;the chargee&quot; the \r\n                                              chargee or the nominee of the \r\n                                              chargee shall create a security \r\n                                              interest in the security which is \r\n                                              the subject of the charge. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: 32.6pt; text-autospace: none; margin-left: .2pt; margin-right: 2.2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A security interest in \r\n                                              deposited securities to secure the \r\n                                              payment of a debt or liability may \r\n                                              be created in favour of a chargee \r\n                                              upon the request of the chargee by \r\n                                              an instrument of charge in the \r\n                                              form prescribed under the central \r\n                                              securities depository rules \r\n                                              executed by the charger. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: 32.6pt; text-autospace: none; margin-left: .2pt; margin-right: 2.2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) Subject to this Act or to \r\n                                              rules made by the Commission, a \r\n                                              security interest shall not be \r\n                                              created in deposited securities.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 32.6pt; text-autospace: none; margin-left: .45pt; margin-right: 2.2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (4) An instrument of charge that \r\n                                              creates a security interest in a \r\n                                              deposited security in favour of \r\n                                              another person shall be deposited \r\n                                              with the central securities \r\n                                              depository where the securities \r\n                                              charged are held, for \r\n                                              registration. </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 35.75pt; text-autospace: none; margin-left: .45pt; margin-right: 1.7pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (5) The central securities \r\n                                              depository agent shall on receipt \r\n                                              of the instrument of charge \r\n                                              deposited register the instrument \r\n                                              in a register of charges \r\n                                              maintained by the central security \r\n                                              depository. </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 35.75pt; text-autospace: none; margin-left: .45pt; margin-right: 1.7pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (6) If a charge over a deposited \r\n                                              security is being discharged or \r\n                                              released, the central securities \r\n                                              depository or its agent, shall on \r\n                                              receipt of a notice of the charge \r\n                                              confirm the discharge or release \r\n                                              and transfer the deposited \r\n                                              security into the securities \r\n                                              account of the charger. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 36.2pt; margin-right: .05pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (7) This section shall not </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.45pt; margin-right: .75pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              apply to floating charges, </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.75pt; text-autospace: none; margin-left: 66.2pt; margin-right: 1.25pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              affect the validity and operation \r\n                                              of floating charges in respect of \r\n                                              deposited securities created under \r\n                                              any law, and </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.75pt; text-autospace: none; margin-left: 66.2pt; margin-right: .05pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (c) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              be construed to require the \r\n                                              central securities depository to \r\n                                              monitor, protect or give effect to \r\n                                              an agreement or memorandum made \r\n                                              between the charger and the \r\n                                              chargee in respect of a charge; \r\n                                              but the central securities \r\n                                              depository or its agent, may \r\n                                              require the charger or chargee to \r\n                                              provide a supporting document \r\n                                              ofthe charger on the creation of \r\n                                              the security interest by way of \r\n                                              the charge. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .95pt; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Securities in or under suspense\r\n                                              </span></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: 11.5pt; text-autospace: none; margin-left: .95pt; margin-right: 1.7pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              42. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) A depository may specify a \r\n                                              deposited securities account to be \r\n                                              in suspense </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.45pt; margin-right: .75pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              where the transfer of the security \r\n                                              in the name of the central \r\n                                              securities depository or its \r\n                                              nominee company is not registrable \r\n                                              by the issuer, <i>(b) </i>where an \r\n                                              application for withdrawal of the \r\n                                              security has been made by a \r\n                                              depositor, or </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.75pt; text-autospace: none; margin-left: 66.2pt; margin-right: 1.25pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (c) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              in circumstances prescribed by the \r\n                                              depository under the central \r\n                                              securities depository rules.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none">\r\n                                              <span style="font-family: Arial">&nbsp;</span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 32.6pt; text-autospace: none; margin-left: .2pt; margin-right: 2.15pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A depository may specify that \r\n                                              a book-entry security in a \r\n                                              security account is under suspense\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.5pt; text-autospace: none; margin-left: 65.75pt; margin-right: 1.9pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              where there is a need for the \r\n                                              central securities depository to \r\n                                              restrict the transfer, charge or \r\n                                              mortgage of the security in the \r\n                                              event of an objection or \r\n                                              investigation made in accordance \r\n                                              with the central securities \r\n                                              depository rules, and </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.5pt; text-autospace: none; margin-left: 65.75pt; margin-right: 1.9pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              where the depository has been \r\n                                              instructed to restrict the \r\n                                              movement of book -entry transfers \r\n                                              by the Commission or by a court of \r\n                                              competent jurisdiction. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: 73.9pt; text-autospace: none; margin-left: .45pt; margin-right: 76.05pt">\r\n                                              <b><i>\r\n                                              <span style="font-family: Arial">\r\n                                              Security, secrecy and \r\n                                              investigation provisions </span>\r\n                                              </i></b></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-right: 76.05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Security measures </span></b></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 12.0pt; text-autospace: none; margin-left: .2pt; margin-right: 1.2pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              43. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              Each depository and its depository \r\n                                              agent shall take reasonable \r\n                                              measures to protect information \r\n                                              and documents related to the \r\n                                              affairs of depositors and in \r\n                                              par­ticular, related to their \r\n                                              securities accounts, against \r\n                                              unauthorised access by persons.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .7pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Duty to maintain secrecy </span>\r\n                                              </b></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 12.0pt; text-autospace: none; margin-left: .2pt; margin-right: 1.2pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              44. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) Subject to this Act, a \r\n                                              director, officer, employee or \r\n                                              agent ofa central securities \r\n                                              depository or any other person who \r\n                                              has access to information or \r\n                                              docu­ment related to the affairs \r\n                                              of a depositor and securities \r\n                                              accounts of a depositor shall not \r\n                                              disclose the information or the \r\n                                              contents of a document to another \r\n                                              person. </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 32.85pt; text-autospace: none; margin-left: .7pt; margin-right: .7pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A person who has information, \r\n                                              which to that person''s knowledge \r\n                                              was disclosed in contravention of \r\n                                              subsection (1) shall inform the \r\n                                              depository of the dis­closure.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 32.85pt; text-autospace: none; margin-left: .7pt; margin-right: .7pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) A person who contravenes this \r\n                                              section commits an offence and is \r\n                                              liable on summary conviction to a \r\n                                              fine of five hundred penalty units \r\n                                              or imprisonment for a term of not \r\n                                              less than three years, or to both.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .7pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Permitted disclosures </span></b>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: 11.5pt; text-autospace: none; margin-left: 1.2pt; margin-right: .45pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              45. </span></b>\r\n                                              <span style="font-family: Arial">A \r\n                                              person shall not disclose \r\n                                              information or a document in \r\n                                              respect of deposited securities to \r\n                                              another person except </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 49.2pt; margin-right: .45pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              if the depositor, the depositor''s \r\n                                              authorised agent or personal \r\n                                              representative, has given \r\n                                              permission in writing for the \r\n                                              disclosure, <i>(b) </i>in a case \r\n                                              where the depositor is declared \r\n                                              bankrupt, or, if the depositor is \r\n                                              a company or body corporate, that \r\n                                              depositor is being or has been \r\n                                              wound up in Ghana or in any \r\n                                              country outside Ghana; </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.95pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (c) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              for the purpose of instituting \r\n                                              civil proceedings or in the course \r\n                                              of any civil proceedings </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -20.85pt; text-autospace: none; margin-left: 105.8pt">\r\n                                              <span style="font-family: Arial">(i) \r\n                                              between a depository or its agent \r\n                                              and a depositor relating to the \r\n                                              securities account of the \r\n                                              depositor, or </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 36.0pt; text-autospace: none; margin-left: 48.25pt; margin-right: 2.15pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A depository may specify that \r\n                                              a book-entry security in a \r\n                                              security account is under suspense\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.5pt; text-autospace: none; margin-left: 65.75pt; margin-right: 1.9pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              where there is a need for the \r\n                                              central securities depository to \r\n                                              restrict the transfer, charge or \r\n                                              mortgage of the security in the \r\n                                              event of an objection or \r\n                                              investigation made in accordance \r\n                                              with the central securities \r\n                                              depository rules, and </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.5pt; text-autospace: none; margin-left: 65.75pt; margin-right: 1.9pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              where the depository has been \r\n                                              instructed to restrict the \r\n                                              movement of book -entry transfers \r\n                                              by the Commission or by a court of \r\n                                              competent jurisdiction. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: 73.9pt; text-autospace: none; margin-left: .45pt; margin-right: 76.05pt">\r\n                                              <b><i>\r\n                                              <span style="font-family: Arial">\r\n                                              Security, secrecy and \r\n                                              investigation provisions </span>\r\n                                              </i></b></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-right: 76.05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Security measures </span></b></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 12.0pt; text-autospace: none; margin-left: .2pt; margin-right: 1.2pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              43. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              Each depository and its depository \r\n                                              agent shall take reasonable \r\n                                              measures to protect information \r\n                                              and documents related to the \r\n                                              affairs of depositors and in \r\n                                              par­ticular, related to their \r\n                                              securities accounts, against \r\n                                              unauthorised access by persons.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .7pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Duty to maintain secrecy </span>\r\n                                              </b></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 12.0pt; text-autospace: none; margin-left: .2pt; margin-right: 1.2pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              44. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) Subject to this Act, a \r\n                                              director, officer, employee or \r\n                                              agent of a central securities \r\n                                              depository or any other person who \r\n                                              has access to information or \r\n                                              docu­ment related to the affairs \r\n                                              of a depositor and securities \r\n                                              accounts of a depositor shall not \r\n                                              disclose the information or the \r\n                                              contents of a document to another \r\n                                              person. </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 32.85pt; text-autospace: none; margin-left: .7pt; margin-right: .7pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A person who has information, \r\n                                              which to that person''s knowledge \r\n                                              was disclosed in contravention of \r\n                                              subsection (1) shall inform the \r\n                                              depository of the dis­closure.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 32.85pt; text-autospace: none; margin-left: .7pt; margin-right: .7pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) A person who contravenes this \r\n                                              section commits an offence and is \r\n                                              liable on summary conviction to a \r\n                                              fine of five hundred penalty units \r\n                                              or imprisonment for a term of not \r\n                                              less than three years, or to both.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .7pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Permitted disclosures </span></b>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: 11.5pt; text-autospace: none; margin-left: 1.2pt; margin-right: .45pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              45. </span></b>\r\n                                              <span style="font-family: Arial">A \r\n                                              person shall not disclose \r\n                                              information or a document in \r\n                                              respect of deposited securities to \r\n                                              another person except </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 49.2pt; margin-right: .45pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              if the depositor, the depositor''s \r\n                                              authorised agent or personal \r\n                                              representative, has given \r\n                                              permission in writing for the \r\n                                              disclosure, <i>(b) </i>in a case \r\n                                              where the depositor is declared \r\n                                              bankrupt, or, if the depositor is \r\n                                              a company or body corporate, that \r\n                                              depositor is being or has been \r\n                                              wound up in Ghana or in any \r\n                                              country outside Ghana; </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.95pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (c) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              for the purpose of instituting \r\n                                              civil proceedings or in the course \r\n                                              of any civil proceedings </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -20.85pt; text-autospace: none; margin-left: 105.8pt">\r\n                                              <span style="font-family: Arial">(i) \r\n                                              between a depository or its agent \r\n                                              and a depositor relating to the \r\n                                              securities account of the \r\n                                              depositor, or </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -20.85pt; text-autospace: none; margin-left: 103.4pt; margin-right: 2.85pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (ii) between a central securities \r\n                                              depository or its agent and two or \r\n                                              more parties making adverse claims \r\n                                              to securities or monies in the \r\n                                              securities account of the \r\n                                              depositor, where the agent seeks \r\n                                              relief by way of interpleader,\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.75pt; text-autospace: none; margin-left: 65.75pt; margin-right: 1.65pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (d) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              to a person authorised to \r\n                                              investigate an offence in respect \r\n                                              of a depositor suspected to have \r\n                                              committed an offence in relation \r\n                                              to a securities account in a \r\n                                              depository; </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.0pt; margin-right: 1.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (e) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              to a central securities depository \r\n                                              for the purpose of compiling the \r\n                                              record of depositors under this \r\n                                              Act; </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.0pt; margin-right: 1.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (j) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              to an issuer in respect of a \r\n                                              record of depositors issued under \r\n                                              this Act; </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.0pt; margin-right: 1.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (g) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              to any member of an issuer or any \r\n                                              person in respect of a record of \r\n                                              depositors issued under this Act;\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.0pt; margin-right: 1.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (h) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              for the purpose of enabling or \r\n                                              assisting the Commission to \r\n                                              exercise a power conferred on it \r\n                                              under this Act or any other law;\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.0pt; margin-right: 1.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">(i)\r\n                                              </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              for the purpose of enabling or \r\n                                              assisting the commission and the \r\n                                              Registrar to discharge their \r\n                                              functions under this Act; </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.0pt; margin-right: 1.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              OJ </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              to enable or assist a stock \r\n                                              exchange or clearing house of a \r\n                                              stock exchange to discharge its \r\n                                              duty, and </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.0pt; margin-right: 1.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (k) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              to enable or assist auditors of a \r\n                                              central securities depository and \r\n                                              its agent to discharge their duty.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Regulation of access to computer \r\n                                              system </span></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: -36.2pt; text-autospace: none; margin-left: 48.2pt; margin-right: 2.15pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              46. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) A central securities \r\n                                              depository may give access to its \r\n                                              computer system to <i>(a) </i>its \r\n                                              agents, </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.2pt; margin-right: 32.6pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">a \r\n                                              stock exchange on which book-entry \r\n                                              securities are listed, <i>(c) </i>\r\n                                              a clearing house of a stock \r\n                                              exchange, </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (d) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              issuers, and </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.0pt; margin-right: 1.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (e) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              any other person as may be \r\n                                              prescribed by the Commission by \r\n                                              Regulations made under this Act.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 32.85pt; text-autospace: none; margin-left: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) The Commission may, prescribe \r\n                                              rules, to provide for the extent \r\n                                              to which a user or class of users \r\n                                              can or cannot have access to the \r\n                                              system for the purpose of \r\n                                              regulating access to the computer \r\n                                              system of a central securities \r\n                                              depository. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 33.35pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) A person who </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.0pt; margin-right: 1.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              being a user, unlawfully gains \r\n                                              access or attempts to gain access \r\n                                              to a computer system of a central \r\n                                              securities depository, </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.0pt; margin-right: 1.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              unlawfully gains access, or \r\n                                              attempts to gain access to a \r\n                                              computer system of a central \r\n                                              depository, or </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.75pt; text-autospace: none; margin-left: 65.75pt; margin-right: 1.65pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (c) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              unlawfully interferes with, \r\n                                              impedes or attempts to interfere \r\n                                              with or impede, the operation of a \r\n                                              computer system of a central \r\n                                              securities depository'' </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -20.85pt; text-autospace: none; margin-left: 103.4pt; margin-right: 2.85pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (ii) between a central securities \r\n                                              depository or its agent and two or \r\n                                              more parties making adverse claims \r\n                                              to securities or monies in the \r\n                                              securities account of the \r\n                                              depositor, where the agent seeks \r\n                                              reliefby way of interpleader,\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.5pt; text-autospace: none; margin-left: 65.75pt; margin-right: 1.9pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (d) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              to a person authorised to \r\n                                              investigate an offence in respect \r\n                                              of a depositor suspected to have \r\n                                              committed an offence in relation \r\n                                              to a securities account in a \r\n                                              depository; </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.2pt; margin-right: 1.4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (e) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              to a central securities depository \r\n                                              for the purpose of compiling the \r\n                                              record of depositors under this \r\n                                              Act; </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.2pt; margin-right: 1.4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (j) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              to an issuer in respect of a \r\n                                              record of depositors issued under \r\n                                              this Act; </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.2pt; margin-right: 1.4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (g) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              to any member of an issuer or any \r\n                                              person in respect of a record of \r\n                                              depositors issued under this Act;\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.2pt; margin-right: 1.4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (h) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              for the purpose of enabling or \r\n                                              assisting the Commission to \r\n                                              exercise a power conferred on it \r\n                                              under this Act or any other law;\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.2pt; margin-right: 1.4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">(i)\r\n                                              </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              for the purpose of enabling or \r\n                                              assisting the commission and the \r\n                                              Registrar to discharge their \r\n                                              functions under this Act; </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.2pt; margin-right: 1.4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              OJ </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              to enable or assist a stock \r\n                                              exchange or clearing house of a \r\n                                              stock exchange to discharge its \r\n                                              duty, and </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.2pt; margin-right: 1.4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (k) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              to enable or assist auditors of a \r\n                                              central securities depository and \r\n                                              its agent to discharge their duty.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Regulation of access to computer \r\n                                              system </span></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: -36.2pt; text-autospace: none; margin-left: 48.2pt; margin-right: 2.15pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              46. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) A central securities \r\n                                              depository may give access to its \r\n                                              computer system to <i>(a) </i>its \r\n                                              agents, </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.2pt; margin-right: 32.6pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">a \r\n                                              stock exchange on which book-entry \r\n                                              securities are listed, <i>(c) </i>\r\n                                              a clearing house of a stock \r\n                                              exchange, </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (d) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              issuers, and </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.2pt; margin-right: 1.4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (e) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              any other person as may be \r\n                                              prescribed by the Commission by \r\n                                              Regulations made under this Act.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 32.85pt; text-autospace: none; margin-left: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) The Commission may, prescribe \r\n                                              rules, to provide for the extent \r\n                                              to which a user or class of users \r\n                                              can or cannot have access to the \r\n                                              system for the purpose of \r\n                                              regulating access to the computer \r\n                                              system of a central securities \r\n                                              depository. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 33.35pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) A person who </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.2pt; margin-right: 1.4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              being a user, unlawfully gains \r\n                                              access or attempts to gain access \r\n                                              to a computer system of a central \r\n                                              securities depository, </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.2pt; margin-right: 1.4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              unlawfully gains access, or \r\n                                              attempts to gain access to a \r\n                                              computer system of a central \r\n                                              depository, or </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.5pt; text-autospace: none; margin-left: 65.75pt; margin-right: 1.9pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (c) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              unlawfully interferes with, \r\n                                              impedes or attempts to interfere \r\n                                              with or impede, the operation of a \r\n                                              computer system of a central \r\n                                              securities depository </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none">\r\n                                              <span style="font-family: Arial">&nbsp;</span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-right: .75pt">\r\n                                              <span style="font-family: Arial">\r\n                                              commits an offence and is liable \r\n                                              on summary conviction to a fine of \r\n                                              seven hundred penalty units or to \r\n                                              a term of imprisonment not \r\n                                              exceeding five years or to both.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .2pt; margin-right: .05pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Power of the</span></b><span style="font-family: Arial">\r\n                                              <b>Commission to require \r\n                                              production of records</b> </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -36.0pt; text-autospace: none; margin-left: 48.0pt; margin-right: 93.15pt">\r\n                                              <span style="font-family: Arial">\r\n                                              47. (1) The Commission may give \r\n                                              directions in writing to <i>(a)\r\n                                              </i>a central securities \r\n                                              depository, </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.0pt; margin-right: 103.95pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">a \r\n                                              nominee of a central securities \r\n                                              depository, (c) a central \r\n                                              securities depository agent,\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.0pt; margin-right: .05pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (d) </span></i>\r\n                                              <span style="font-family: Arial">a \r\n                                              user, </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.25pt; text-autospace: none; margin-left: 65.5pt; margin-right: .5pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (e) </span></i>\r\n                                              <span style="font-family: Arial">a \r\n                                              person who is or has been an \r\n                                              officer or employee of a central \r\n                                              securities depository, or </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.25pt; text-autospace: none; margin-left: 65.25pt; margin-right: .25pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (g) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              an agent, advocate, solicitor, \r\n                                              auditor, or other person acting in \r\n                                              any capacity for or on behalf of a \r\n                                              central depository or its nominee \r\n                                              company, or a central securities \r\n                                              depository agent, or a user </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-autospace: none; margin-right: .5pt">\r\n                                              <span style="font-family: Arial">\r\n                                              to produce to the Commission \r\n                                              records or accounts related to the \r\n                                              business or affairs of a \r\n                                              depository agent, or user or \r\n                                              records or accounts required to be \r\n                                              kept by a central securities \r\n                                              depository under this Act. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: 32.4pt; text-autospace: none; margin-left: .45pt; margin-right: .75pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A reference in subsection (1) \r\n                                              to a business carried on by a \r\n                                              person includes a reference to a \r\n                                              business carried on by a person as \r\n                                              trustee. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 32.4pt; text-autospace: none; margin-left: .45pt; margin-right: .75pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) Where the Commission requires \r\n                                              the production of a record or \r\n                                              account and a person has a lien on \r\n                                              the record or account, the \r\n                                              Commission </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.25pt; text-autospace: none; margin-left: 65.5pt; margin-right: .5pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              may take possession of the records \r\n                                              or accounts and make copies or \r\n                                              extracts from it, </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.25pt; text-autospace: none; margin-left: 65.25pt; margin-right: .25pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              may require the other person or \r\n                                              any other person who is a party to \r\n                                              the compilation of the records or \r\n                                              accounts to make a statement \r\n                                              providing an explanation of the \r\n                                              records or accounts, </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.25pt; text-autospace: none; margin-left: 65.5pt; margin-right: .5pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (c) may retain possession of the \r\n                                              records or accounts for a period \r\n                                              that the Commission may consider \r\n                                              necessary; and </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.25pt; text-autospace: none; margin-left: 65.25pt; margin-right: .25pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (d) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              shall permit the other person, \r\n                                              upon giving reasonable notice and \r\n                                              description of the record or \r\n                                              accounts, to have access to the \r\n                                              records or accounts which are in \r\n                                              the possession of the Commission.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 32.85pt; text-autospace: none; margin-right: .25pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (4) Where the Commission requires \r\n                                              the production of a record or \r\n                                              account and the records or \r\n                                              accounts are not produced, the \r\n                                              Commission may require a person\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.0pt; margin-right: .05pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              to state, where the records or \r\n                                              accounts maybe found, and </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.25pt; text-autospace: none; margin-left: 65.5pt; margin-right: .5pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              to identify the last person who \r\n                                              had custody of the records or \r\n                                              accounts and where that person may \r\n                                              be found. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 32.4pt; text-autospace: none; margin-left: .45pt; margin-right: .75pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (5) A power conferred by this \r\n                                              section to require a person to do \r\n                                              an act applies to an officer of a \r\n                                              body corporate. </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.2pt; text-autospace: none; margin-left: .7pt; margin-right: 1.4pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (6) A person who fails to comply \r\n                                              with a requirement made under this \r\n                                              sec­tion commits an offence and is \r\n                                              liable on summary conviction to a \r\n                                              fine of five hun­dred penalty \r\n                                              units, and in the case of a \r\n                                              continuing offence is liable to a \r\n                                              penalty of ten penalty units for \r\n                                              each day that the offence \r\n                                              continues. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .7pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Power of Commission</span></b><span style="font-family: Arial">\r\n                                              <b>to enter and search premises\r\n                                              </b></span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 12.7pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              48. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) The COmrr1ission shall enter \r\n                                              and search premises </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.25pt; text-autospace: none; margin-left: 66.0pt; margin-right: 1.4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              where there is reasonable grounds \r\n                                              to believe that an offence under \r\n                                              this Act has been or is likely to \r\n                                              be committed, or </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.7pt; margin-right: 1.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              where a record or account which is \r\n                                              required to be produced in \r\n                                              compliance with a request by the \r\n                                              Commission, is being kept; and (i) \r\n                                              ifthe premises is occupied by a \r\n                                              depository or a user, inspect, \r\n                                              examine and operate the computer \r\n                                              system, </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -20.85pt; text-autospace: none; margin-left: 105.1pt; margin-right: 1.2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (ii) if the premises is occupied \r\n                                              by any other person, break open \r\n                                              and search any cupboard, drawer, \r\n                                              safe, box or other receptacle, and \r\n                                              where a computer system is \r\n                                              installed, inspect, examine and \r\n                                              operate the system, and </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -21.1pt; text-autospace: none; margin-left: 105.1pt; margin-right: 1.65pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (iii) take possession of records, \r\n                                              documents or other material found \r\n                                              on the premises. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 33.35pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A person who </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.7pt; margin-right: 1.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              obstructs or hinders the \r\n                                              Commission in the exercise of its \r\n                                              powers, </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.7pt; margin-right: 1.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              fails to give to the Commission \r\n                                              assistance that it may reasonably \r\n                                              require commits an offence and is \r\n                                              liable on summary conviction to a \r\n                                              fine of five hundred penalty units \r\n                                              or to term of imprisonment not \r\n                                              exceeding three years or to both.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .7pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Disclosure to Commission </span>\r\n                                              </b></p>\r\n                                              <p class="MsoNormal" style="text-indent: 12.0pt; text-autospace: none; margin-right: 1.9pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              49. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) The Commission may require a \r\n                                              depository or its agent to \r\n                                              disclose to the Commission </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.25pt; text-autospace: none; margin-left: 65.5pt; margin-right: .7pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              the acquisition or disposal of \r\n                                              deposited securities and the \r\n                                              nature of the instructions given \r\n                                              to the central securities \r\n                                              depository or its central agent in \r\n                                              respect of the acquisition or \r\n                                              disposal, </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.25pt; text-autospace: none; margin-left: 66.0pt; margin-right: 1.4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              information regarding the disposal \r\n                                              of the securities account numbers \r\n                                              and entries made in the securities \r\n                                              account, and </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.25pt; text-autospace: none; margin-left: 65.5pt; margin-right: .7pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (c) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              the book-entry securities acquired \r\n                                              or disposed of by a depositor as \r\n                                              trustee for or on behalf of \r\n                                              another person, including the name \r\n                                              of the person and the nature of \r\n                                              instructions given to the \r\n                                              depositor in respect of the \r\n                                              acquisition and disposal. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 32.4pt; text-autospace: none; margin-left: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A person who, contravenes \r\n                                              subsection (1) commits an offence \r\n                                              and is liable on summary \r\n                                              conviction to a fine of five \r\n                                              hundred penalty units or to a term \r\n                                              of imprisonment not exceeding \r\n                                              three years or to both. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Investigation by Commission </span>\r\n                                              </b></p>\r\n                                              <p class="MsoNormal" style="text-indent: 12.0pt; text-autospace: none; margin-right: 3.8pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              50. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              The Commission may conduct an \r\n                                              investigation if it suspects that \r\n                                              a person has committed or is about \r\n                                              to commit an offence under this \r\n                                              Act. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .7pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Power of court to make orders\r\n                                              </span></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: 12.0pt; text-autospace: none; margin-right: 3.8pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              51. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) If on the application of an \r\n                                              aggrieved party or a central \r\n                                              securities de­pository, it appears \r\n                                              to the Court that a person </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.0pt; margin-right: 4.3pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              has committed an offence under \r\n                                              this Act in relation to dealings \r\n                                              in deposited securities; </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.7pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              has contravened the central \r\n                                              security depository rules; or\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" align="right" style="text-align: right; text-autospace: none; margin-left: 48.7pt; margin-right: 2.4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (c) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              is about to do an act in relation \r\n                                              to dealings in deposited \r\n                                              securities that constitutes an \r\n                                              offence under this Act or would be \r\n                                              a contravention of the central \r\n                                              securities depository rules the \r\n                                              court may make an order; (i) to \r\n                                              restrain a person from acting or \r\n                                              holding himself out as a </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 105.1pt">\r\n                                              <span style="font-family: Arial">\r\n                                              depository agent, </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -20.85pt; text-autospace: none; margin-left: 105.35pt; margin-right: 2.85pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (ii) to restrain a person from \r\n                                              withdrawing or dealing with \r\n                                              book­entry securities specified in \r\n                                              the order, </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 84.45pt; margin-right: 12.95pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (iii) compel a person to do or \r\n                                              refrain from doing an act, and \r\n                                              (iv) that it considers necessary.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 33.1pt; text-autospace: none; margin-left: .7pt; margin-right: 2.85pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) Before making an order, the \r\n                                              Court may direct that notice of \r\n                                              the appli­cation should be </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.7pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              served on the relevant parties, \r\n                                              and </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.7pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              published in a manner that is \r\n                                              considered appropriate. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt; text-autospace: none; margin-left: .7pt; margin-right: 1.9pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) A person, who fails to comply \r\n                                              with an order made by the Court \r\n                                              commits an offence and is liable \r\n                                              on summary conviction to a fine of \r\n                                              five hundred penalty units or to a \r\n                                              term of imprisonment of not less \r\n                                              than three years or to both.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.0pt; text-autospace: none; margin-left: .7pt; margin-right: 1.9pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (4) The Court may in addition to \r\n                                              the penalty provided for charge a \r\n                                              person for contempt of court, \r\n                                              rescind, vary or discharge an \r\n                                              order made by it or suspend the \r\n                                              operation of the order. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: 122.15pt; text-autospace: none; margin-left: 1.2pt; margin-right: 124.8pt">\r\n                                              <b><i>\r\n                                              <span style="font-family: Arial">\r\n                                              Miscellaneous provisions </span>\r\n                                              </i></b></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 1.2pt; margin-right: 124.8pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Preservation of records</span></b><span style="font-family: Arial">\r\n                                              <b>and accounts </b></span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 12.0pt; text-autospace: none; margin-left: .95pt; margin-right: .7pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              52. </span></b>\r\n                                              <span style="font-family: Arial">A \r\n                                              central securities depository and \r\n                                              its agents shall preserve records \r\n                                              and accounts relating to the \r\n                                              depository for a period of six \r\n                                              years after closure of a \r\n                                              securities account, whether or not \r\n                                              they cease to carry on business \r\n                                              before the end of the seventh \r\n                                              year. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .7pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Guarantee Fund </span></b></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 12.0pt; text-autospace: none; margin-left: .95pt; margin-right: .7pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              53. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (I) A central securities \r\n                                              depository shall establish and \r\n                                              maintain a Guarantee Fund for the \r\n                                              purpose of providing an indemnity \r\n                                              against default in respect of \r\n                                              pay­ments for or delivery of \r\n                                              securities by a depository \r\n                                              participant and of obligations of \r\n                                              participants towards the central \r\n                                              securities depository. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 32.85pt; text-autospace: none; margin-left: .45pt; margin-right: 1.2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &nbsp;(2) The assets of the Guarantee \r\n                                              Fund consists of moneys accruing \r\n                                              to the Fund and contributions \r\n                                              specified in the central \r\n                                              securities depository rules.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 36.2pt; text-autospace: none; margin-right: .95pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (3) Where the central securities \r\n                                              depository has made payment from \r\n                                              the Guarantee Fund in relation to \r\n                                              a default, even if the central \r\n                                              securities depository is not a \r\n                                              counter party to the transaction \r\n                                              between selling and buying \r\n                                              participants, it shall be \r\n                                              subrogated to the rights and \r\n                                              powers of the participant not in \r\n                                              default for the purpose of the \r\n                                              seizure and sale of unpaid \r\n                                              securities and of operating the \r\n                                              Guarantee Fund. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -11.75pt; text-autospace: none; margin-left: 12.0pt; margin-right: 192.4pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Falsification of records</span></b><span style="font-family: Arial">\r\n                                              <b>or accounts 54. </b></span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -11.75pt; text-autospace: none; margin-left: 12.0pt; margin-right: 192.4pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (1) A person who </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.25pt; margin-right: 49.85pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              records or stores, information \r\n                                              that is false or misleading;\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.25pt; margin-right: 49.85pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              falsifies, destroys or removes\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 83.75pt; margin-right: .15pt">\r\n                                              <span style="font-family: Arial">(i) \r\n                                              information which is recorded or \r\n                                              stored by that person, (ii) \r\n                                              information which is prepared for \r\n                                              the purpose of being recorded or \r\n                                              stored, </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -20.85pt; text-autospace: none; margin-left: 104.65pt; margin-right: 1.15pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (iii) information which is \r\n                                              prepared for use in compiling \r\n                                              records, and </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 83.75pt; margin-right: .15pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (iv) information which is prepared \r\n                                              for use in recovering other \r\n                                              information, </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-autospace: none; margin-left: .25pt; margin-right: .4pt">\r\n                                              <span style="font-family: Arial">\r\n                                              in relation to a record or an \r\n                                              account required to be kept by a \r\n                                              depository or its agent under this \r\n                                              Act by means of a mechanical \r\n                                              device, an electronic device, or \r\n                                              any other device, commits an \r\n                                              offence and is liable on summary \r\n                                              conviction to a fine of not more \r\n                                              than five hundred penalty units or \r\n                                              to imprisonment for a term of not \r\n                                              more than three years or to both.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 32.4pt; text-autospace: none; margin-left: .7pt; margin-right: 8.8pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) A person who is responsible \r\n                                              for recording or storing \r\n                                              information but fails to do so\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -20.6pt; text-autospace: none; margin-left: 104.65pt; margin-right: .15pt">\r\n                                              <span style="font-family: Arial">(i) \r\n                                              with intent to falsify any entry \r\n                                              made, or record intended to be \r\n                                              compiled from the information that \r\n                                              has been recorded or stored, and\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -20.6pt; text-autospace: none; margin-left: 104.65pt; margin-right: .15pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (ii) knowing that the failure to \r\n                                              record or store the information \r\n                                              will render the information \r\n                                              recorded or stored, false or \r\n                                              misleading &nbsp;&nbsp;&nbsp;&nbsp; . </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-autospace: none; margin-left: .5pt; margin-right: .4pt">\r\n                                              <span style="font-family: Arial">\r\n                                              commits an offence and is liable \r\n                                              on summary conviction to a fine of \r\n                                              not more than five hundred penalty \r\n                                              units, or to imprisonment for a \r\n                                              term of not less than three years, \r\n                                              or both. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -12.0pt; text-autospace: none; margin-left: 12.7pt; margin-right: 118.75pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Destruction, concealment, or \r\n                                              alteration of records</span></b></p>\r\n                                              <p class="MsoNormal" style="text-indent: -12.0pt; text-autospace: none; margin-left: 12.7pt; margin-right: 118.75pt">\r\n                                              <span style="font-family: Arial">&nbsp;<b>55.\r\n                                              </b>A person who </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 66.25pt; margin-right: .4pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              destroys, conceals, or alters a \r\n                                              record or account required to be \r\n                                              kept under this Act; or </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.45pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              sends, attempts to send or \r\n                                              conspires with another person to \r\n                                              send </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 66.0pt">\r\n                                              <span style="font-family: Arial">\r\n                                              out of Ghana any record or \r\n                                              account, </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .2pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              with intent to defraud a person, \r\n                                              or to prevent, delay or obstruct \r\n                                              the carrying out of an \r\n                                              examination, investigation or \r\n                                              audit, or the exercise of a power \r\n                                              under this Act, commits an offence \r\n                                              and is liable on summary \r\n                                              conviction to a fine of one \r\n                                              thousand penalty units or to a \r\n                                              term of imprisonment not exceeding \r\n                                              four years or to both.</span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .2pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">&nbsp;<b>Furnishing \r\n                                              false or misleading information\r\n                                              </b></span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 12.45pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              56. </span></b>\r\n                                              <span style="font-family: Arial">A \r\n                                              person who furnishes information \r\n                                              which is false or misleading\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.25pt; text-autospace: none; margin-left: 66.0pt; margin-right: .7pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              for the purpose of, or in \r\n                                              connection with, any application \r\n                                              under this Act; or </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 48.45pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              in compliance with any requirement \r\n                                              imposed on that person under this \r\n                                              Act, commits an offence and is \r\n                                              liable on summary conviction to a \r\n                                              fine of five hundred penalty units \r\n                                              or to a term of imprisonment of \r\n                                              not more than three years. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .2pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Offences by bodies corporate\r\n                                              </span></b></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 12.0pt; text-autospace: none; margin-right: .2pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              57. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              Where an offence under this Act is \r\n                                              committed by a body corporate, a \r\n                                              director, or other officer of the \r\n                                              body corporate or a person acting \r\n                                              in that capacity is liable to have \r\n                                              committed that offence unless the \r\n                                              person proves that </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.25pt; text-autospace: none; margin-left: 66.0pt; margin-right: .7pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              the offence was committed without \r\n                                              the person''s consent or \r\n                                              connivance; and </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -17.75pt; text-autospace: none; margin-left: 66.2pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              the person exercised diligence to \r\n                                              prevent the commission of the \r\n                                              offence having regard to the \r\n                                              nature of the person''s functions \r\n                                              in that capacity and to other \r\n                                              circumstances. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .45pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              General penalty </span></b></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 12.0pt; text-autospace: none; margin-right: .2pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              58. </span></b>\r\n                                              <span style="font-family: Arial">A \r\n                                              person who contravenes a provision \r\n                                              of this Act for which a penalty is \r\n                                              not provided commits an offence \r\n                                              and is liable on summary \r\n                                              conviction to a fine of five \r\n                                              hundred penalty units or to a term \r\n                                              of imprisonment of not more than \r\n                                              three years or to both. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .2pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Regulations </span></b></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 12.0pt; text-autospace: none; margin-right: .2pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              59. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) The Minister may, on the \r\n                                              advice of the Commission, by \r\n                                              legislative in­strument make \r\n                                              Regulations for matters necessary \r\n                                              for the effective implementation \r\n                                              of this Act. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 33.1pt; text-autospace: none; margin-left: .2pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) Despite the Statutory \r\n                                              Instruments Act, 1959 (No. 52) \r\n                                              Regulations made under this Act \r\n                                              may impose a penalty of not more \r\n                                              than two thousand five hundred \r\n                                              penalty units. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .2pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Interpretation </span></b></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 12.45pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              60. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) In this Act, unless the \r\n                                              context otherwise requires, </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 27.0pt">\r\n                                              <span style="font-family: Arial">&nbsp; \r\n                                              &quot;access&quot; in relation to a computer \r\n                                              system, means the placing of \r\n                                              information on that system and the \r\n                                              retrieval of information from that \r\n                                              system; </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-autospace: none; margin-left: 27.0pt; margin-right: 1.9pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;admittance of securities date&quot; in \r\n                                              relation to any eligible security, \r\n                                              means the date specified in the \r\n                                              notice given by a stock exchange \r\n                                              as being the last day on which the \r\n                                              eligible security may be traded on \r\n                                              a stock market of the stock \r\n                                              exchange unless such security has \r\n                                              been deposited with the central \r\n                                              depository; </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 27.0pt; margin-right: .95pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;admittance of security&quot; means a \r\n                                              security in which the underlying \r\n                                              certificate has been deposited \r\n                                              with and is held by a central \r\n                                              depository; &quot;agent&quot; means a \r\n                                              Central Securities Depository \r\n                                              agent; </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 27.0pt; margin-right: 1.9pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;bank&quot; mean a body corporate which \r\n                                              is issued with a licence in \r\n                                              accordance with the Banking Act \r\n                                              2004 (Act 673); </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 27.0pt; margin-right: 1.9pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;bare trustee&quot; means a trustee who \r\n                                              has no beneficial interest in the \r\n                                              subject matter of the trust;\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-autospace: none; margin-left: 27.0pt; margin-right: 1.9pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;bearer security&quot; means a security \r\n                                              the title to which is transferable \r\n                                              by delivery with or without \r\n                                              endorsement of the certificates \r\n                                              representing such securities;\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 27.0pt; margin-right: 1.9pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;buying in&quot; means the buying \r\n                                              effected by a security exchange, \r\n                                              according to the rules of the \r\n                                              stock exchange of securities which \r\n                                              a seller has failed to deliver on \r\n                                              a day fixed for settlement; </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 27.0pt; margin-right: .95pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;charge&quot; includes a pledge or a \r\n                                              mortgage; </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 27.0pt; margin-right: 1.65pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;certificate&quot; means a document \r\n                                              that is a document of title to a \r\n                                              security; &quot;central depository \r\n                                              agent&quot; in relation to any central \r\n                                              depository, means a </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 27.0pt; margin-right: .95pt">\r\n                                              <span style="font-family: Arial">\r\n                                              person appointed to be an agent of \r\n                                              that central depository; &quot;central \r\n                                              securities depository&quot; or \r\n                                              &quot;depository&quot; means a company \r\n                                              approved by the Commission to \r\n                                              establish and operate a system for \r\n                                              the central handling of \r\n                                              securities- </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -20.85pt; text-autospace: none; margin-left: 57.35pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">(i) \r\n                                              whereby the securities are \r\n                                              immobilised or dematerialised and \r\n                                              dealings in respect of those \r\n                                              securities are effected by means \r\n                                              of entries in securities accounts \r\n                                              without the physical necessity of \r\n                                              certificates; or </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -20.85pt; text-autospace: none; margin-left: 57.35pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (ii) which permits or facilitates \r\n                                              the settlement. or registration of \r\n                                              securities transactions of \r\n                                              dealings in securities without the \r\n                                              physical necessity of \r\n                                              certificates; and </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -20.85pt; text-autospace: none; margin-left: 57.35pt; margin-right: 1.65pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (iii) which provides other \r\n                                              facilities and services incidental \r\n                                              with the proceeding provisions;\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 27.0pt; margin-right: 1.9pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;Commission&quot; means the Securities \r\n                                              and Exchange Commission \r\n                                              established by the Securities \r\n                                              Industry Law 1993 (P.N.D.C.L. 333) \r\n                                              as amended; </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 27.0pt; margin-right: 1.9pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;Companies Code&quot; means the \r\n                                              Companies Code, 1963 (Act 179) as \r\n                                              amended; </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.0pt; text-autospace: none; margin-left: 18.45pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &quot;computer system&quot; in \r\n                                              relation to a central depository, \r\n                                              means a computer system \r\n                                              established by a central \r\n                                              securities depository which forms \r\n                                              part of the system for the central \r\n                                              handling of securities and which \r\n                                              consists of </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -20.85pt; text-autospace: none; margin-left: 56.85pt">\r\n                                              <span style="font-family: Arial">(i) \r\n                                              the central equipment comprising \r\n                                              hardware and software associated \r\n                                              with that hardware, located at the \r\n                                              premises of the central \r\n                                              depository, and </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 36.2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (ii) the terminals located at the \r\n                                              premises of the users. </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.0pt; text-autospace: none; margin-left: 18.45pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;central securities depository \r\n                                              rules&quot; includes the rules of a \r\n                                              central securities depository and \r\n                                              any other directions given from \r\n                                              time to time by a central \r\n                                              securities depository to any \r\n                                              person; </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.0pt; text-autospace: none; margin-left: 18.2pt; margin-right: 1.4pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;dealer&quot; means a dealer as defined \r\n                                              in the Securities Industry Law \r\n                                              1993 (P.N.D.C.L .333) as amended;\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.0pt; text-autospace: none; margin-left: 18.2pt; margin-right: 1.4pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;dealing in securities&quot; means \r\n                                              dealing in securities as defined \r\n                                              in the Securities Industry Law \r\n                                              1993 (P.N.D.C.L. 333) as amended;\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.0pt; text-autospace: none; margin-left: 18.45pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;debt securities&quot; means \r\n                                              debentures, bonds, notes, or other \r\n                                              similar instruments representing \r\n                                              or evidencing indebtedness whether \r\n                                              secured or otherwise; </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;debenture&quot; and &quot;debentureholder&quot; \r\n                                              means debenture and \r\n                                              debentureholder as defined under \r\n                                              the First Schedule to the \r\n                                              Companies Code; \r\n                                              &quot;dematerialisation&quot; means the \r\n                                              elimination of physical \r\n                                              certificates or decuments oftitle \r\n                                              that represent ownership of \r\n                                              securities so that securities \r\n                                              exist only as accounting records;\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.0pt; text-autospace: none; margin-left: 18.45pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;dematerialisation date&quot; in \r\n                                              relation to a dematerialised \r\n                                              security, means the date \r\n                                              prescribed by a central securities \r\n                                              depository as being the last day \r\n                                              on which a certificate \r\n                                              representing such security shall \r\n                                              not be recognised as first hand \r\n                                              evidence of ownership under the \r\n                                              Companies Code; </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -18.0pt; text-autospace: none; margin-left: 18.45pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;dematerialised security&quot; means a \r\n                                              security which has been prescribed \r\n                                              by the central securities \r\n                                              depository whereby the underlying \r\n                                              physical certificate is no longer \r\n                                              recognised as prima facie evidence \r\n                                              01 ownership under the Companies \r\n                                              Code; </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .7pt; margin-right: 1.9pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;deposited security&quot; includes a \r\n                                              security standing to the credit of \r\n                                              a security account ~hich is \r\n                                              transferable by way of book-entry \r\n                                              in the record of depositors and a \r\n                                              security in a securities account \r\n                                              that is in suspense &quot;depositor&quot; in \r\n                                              relation to any book-entry, means \r\n                                              a holder of a securities account; \r\n                                              &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; . </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;depository&quot; means a central \r\n                                              securities depository; </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;eligible security&quot; means a \r\n                                              security which has been prescribed \r\n                                              by th, </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 17.75pt; margin-right: 2.15pt">\r\n                                              <span style="font-family: Arial">\r\n                                              Bank of Ghana or a stock exchange \r\n                                              to be admitted in with a central \r\n                                              securities depository; </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -18.0pt; text-autospace: none; margin-left: 18.2pt; margin-right: 1.4pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;information&quot; includes data \r\n                                              recorded in a form which can be \r\n                                              processed by equipment operating \r\n                                              automatically in response to \r\n                                              instructions given for a \r\n                                              particular purpose; </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -18.0pt; text-autospace: none; margin-left: 18.2pt; margin-right: 1.4pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;institutional investor&quot; means a \r\n                                              person whose ordinary course of \r\n                                              business is to hold, manage or \r\n                                              invest funds in connection with \r\n                                              retirement benefits, insurance \r\n                                              contracts, mortgage and savings \r\n                                              schemes and any funds or scheme in \r\n                                              the nature of a collective \r\n                                              investment scheme; </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -18.0pt; text-autospace: none; margin-left: 18.2pt; margin-right: 1.4pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;issuer&quot; in relation to a \r\n                                              security, includes the company, \r\n                                              corporation, government or body \r\n                                              corporate or unincorporated or \r\n                                              other person, which issued that \r\n                                              security, and any person \r\n                                              performing the functions of a \r\n                                              registrar for the issuer in \r\n                                              respect of the security; </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -24.0pt; text-autospace: none; margin-left: 24.2pt; margin-right: 1.65pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;listed&quot; means admitted to the \r\n                                              official list of a stock exchange \r\n                                              in Ghana and listing shall be \r\n                                              construed accordingly; </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.75pt; text-autospace: none; margin-left: 18.2pt; margin-right: .95pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;listed security&quot; means a \r\n                                              book-entry security listed on a \r\n                                              stock exchange in Ghana; </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.75pt; text-autospace: none; margin-left: 18.2pt; margin-right: .95pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;market day&quot; means any day during \r\n                                              which a stock exchange is open for \r\n                                              business; </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .45pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;member&quot; in relation to </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -20.4pt; text-autospace: none; margin-left: 56.85pt; margin-right: .7pt">\r\n                                              <span style="font-family: Arial">(i) \r\n                                              a stock exchange, means a person \r\n                                              who is recognised as a member of a \r\n                                              stock exchange; and </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 36.45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (iii) a company, means a person \r\n                                              who is recognised as a member\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 56.6pt; text-autospace: none; margin-left: .7pt; margin-right: 70.05pt">\r\n                                              <span style="font-family: Arial">\r\n                                              of a company under the Companies \r\n                                              Code; &quot;Minister&quot; means the \r\n                                              Minister responsible for Finance;\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .45pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;non-bearer security&quot; means a \r\n                                              security other than a bearer \r\n                                              security; &quot;notification date&quot; \r\n                                              means the date on which is given \r\n                                              by a stock exchange; &quot;official \r\n                                              list&quot; in relation to a stock \r\n                                              exchange in Ghana, means a list or \r\n                                              lists specifying all securities \r\n                                              which have been listed for listing \r\n                                              on that stock exchange; </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .7pt; margin-right: 51.8pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;prescribe&quot; means prescribed by \r\n                                              regulations under this Act; \r\n                                              &quot;record&quot; in addition to a record \r\n                                              in writing, includes </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 36.45pt">\r\n                                              <span style="font-family: Arial">(i) \r\n                                              a photograph; </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -20.85pt; text-autospace: none; margin-left: 57.6pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (ii) a disc, tape, sound-track, or \r\n                                              other device in which sounds or \r\n                                              other data (not being visual \r\n                                              images) are embodied so as to be \r\n                                              capable (with or without the aid \r\n                                              of some other instrument) of being \r\n                                              reproduced from the disc, tape, \r\n                                              sound track or other device; and\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: 3.0pt; text-autospace: none; margin-left: 36.0pt; margin-right: 1.2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (ill) a film, tape or other device \r\n                                              on which visual images are \r\n                                              embodied so as to be capable (with \r\n                                              or without the aid of some other \r\n                                              instrument) of being reproduced \r\n                                              there from, and any reference to a \r\n                                              copy of a record includes a film, \r\n                                              tape or other device; </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -20.6pt; text-autospace: none; margin-left: 103.2pt; margin-right: 1.2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (iv) in the case of a record \r\n                                              falling within paragraph (ii) but \r\n                                              not paragraph (iii) of this \r\n                                              definition, a transcript of the \r\n                                              sounds or other data embodied \r\n                                              therein; </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -20.6pt; text-autospace: none; margin-left: 103.2pt; margin-right: 1.2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (v) in the case of a record \r\n                                              falling within paragraph (iii) but \r\n                                              not paragraph (iv) of this \r\n                                              definition, a still reproduction \r\n                                              of the images embodied therein, \r\n                                              whether enlarged or not; and\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -20.6pt; text-autospace: none; margin-left: 103.2pt; margin-right: 1.2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (vi) in the case of a record \r\n                                              falling within both paragraphs \r\n                                              (ii) and (iii) of this definition, \r\n                                              the transcript of the sounds or \r\n                                              other data embodied therein \r\n                                              together with the still \r\n                                              reproduction of the images \r\n                                              embodied therein; </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 46.55pt; margin-right: .95pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;Register of depositors&quot; means a \r\n                                              record maintained by a central \r\n                                              securities depository to an issuer \r\n                                              which contains specified \r\n                                              particulars; &quot;Registrar&quot; means a \r\n                                              person appointed by an issuer to \r\n                                              perform the functions of a \r\n                                              registrar of its securities;\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 46.55pt; margin-right: .95pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;securities&quot; includes- </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -20.6pt; text-autospace: none; margin-left: 103.2pt; margin-right: 1.2pt">\r\n                                              <span style="font-family: Arial">(i) \r\n                                              debentures, shares, bonds or notes \r\n                                              issued or proposed to be issued by \r\n                                              a body corporate and any right, \r\n                                              warrant or option in respect of \r\n                                              them, </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -20.4pt; text-autospace: none; margin-left: 102.7pt; margin-right: 1.9pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (ii) bonds, treasury bills or \r\n                                              other loan instrument of the \r\n                                              Government of Ghana or of any \r\n                                              other country, </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -20.4pt; text-autospace: none; margin-left: 102.7pt; margin-right: 1.9pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (ill) rights of interest, whether \r\n                                              described as units or otherwise \r\n                                              under a collective investment \r\n                                              scheme, </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -20.4pt; text-autospace: none; margin-left: 102.7pt; margin-right: 1.9pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (iv) other rights, interests or \r\n                                              instruments that the Minister may, \r\n                                              by notice in the <i>Gazette, </i>\r\n                                              prescribe. </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -18.0pt; text-autospace: none; margin-left: 64.1pt; margin-right: 1.65pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;securities account&quot; means an \r\n                                              account established by a central \r\n                                              securities depository for a \r\n                                              depositor for the recording of \r\n                                              deposited securities and cash \r\n                                              balances, in respect of dealings \r\n                                              in the securities by the \r\n                                              depositor; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; . </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -18.0pt; text-autospace: none; margin-left: 64.1pt; margin-right: 1.65pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;selling out&quot; means the selling of \r\n                                              securities effected by a stock \r\n                                              exchange according to the rules of \r\n                                              the stock exchange, in which a \r\n                                              buyer has failed to accept and to \r\n                                              pay for when delivered on a day \r\n                                              fixed for the settlement; </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -18.0pt; text-autospace: none; margin-left: 64.1pt; margin-right: 1.65pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;settlement partner&quot; means a \r\n                                              commercial bank designated by a \r\n                                              depository participant to settle \r\n                                              its transactions with the central \r\n                                              securities depository; </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -18.0pt; text-autospace: none; margin-left: 64.1pt; margin-right: 1.65pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;stock market&quot; means a market \r\n                                              exchange or other place at which, \r\n                                              or a facility by means of which \r\n                                              securities are regularly offered \r\n                                              for sale, purchase or exchanged; \r\n                                              and </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -18.0pt; text-autospace: none; margin-left: 65.5pt; margin-right: .95pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;user&quot; means a central securities \r\n                                              depository agent, an issuer, a \r\n                                              stock exchange or another person \r\n                                              that may be prescribed by the \r\n                                              Commission who may be given access \r\n                                              to a computer system of a central \r\n                                              depository. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              References </span></b></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 11.75pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              61. </span></b>\r\n                                              <span style="font-family: Arial">A \r\n                                              reference in this Act to </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.5pt; text-autospace: none; margin-left: 65.25pt; margin-right: 1.65pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (a) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              writing includes any mode of \r\n                                              presenting or reproducing letters, \r\n                                              figures or marks in a visible \r\n                                              form, and </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 47.75pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">a \r\n                                              security being deposited or \r\n                                              required to be deposited with a \r\n                                              central </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: -17.75pt; text-autospace: none; margin-left: 83.25pt">\r\n                                              <span style="font-family: Arial">\r\n                                              securities depository shall be \r\n                                              construed as a reference to a \r\n                                              deposit of (i) the certificate,\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 83.5pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (ii) the instrument of transfer, \r\n                                              if any, or </span></p>\r\n                                              <p class="MsoNormal" style="text-indent: 83.5pt; text-autospace: none; margin-right: 59.25pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (iii) any other document \r\n                                              representing the security, to the \r\n                                              central securities depository.\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: .2pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              Consequential Amendments </span>\r\n                                              </b></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-right: .7pt">\r\n                                              <b>\r\n                                              <span style="font-family: Arial">\r\n                                              62. </span></b>\r\n                                              <span style="font-family: Arial">\r\n                                              (1) The Securities Industry Law, \r\n                                              1993 (P.N.D.C.L. 333) as amended \r\n                                              by the Securities Industry \r\n                                              (Amendment) Act 2000 (Act 590) is \r\n                                              hereby further amended <i>(a) </i>\r\n                                              by the insertion of a new section \r\n                                              9 <i>(c) </i>as follows: </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -21.1pt; text-autospace: none; margin-left: 104.85pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;to register, licence, authorise \r\n                                              or regulate, in accordance with \r\n                                              this Act or any regulations made \r\n                                              under it, stock exchanges, \r\n                                              investment advisers, unit trust \r\n                                              schemes, mutual funds, securities \r\n                                              dealers, central securities \r\n                                              depositories, and their agents, \r\n                                              and to control and supervise their \r\n                                              activities with a view to \r\n                                              maintaining proper standards of \r\n                                              conduct and acceptable practices \r\n                                              in the securities business;&quot;\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -18.0pt; text-autospace: none; margin-left: 65.5pt; margin-right: .95pt">\r\n                                              <i>\r\n                                              <span style="font-family: Arial">\r\n                                              (b) </span></i>\r\n                                              <span style="font-family: Arial">\r\n                                              by the deletion of the following \r\n                                              from the definition of &quot;dealer&quot; \r\n                                              under section 142 of the \r\n                                              Securities Industry Law, 1993 (P.N.D.C.L. \r\n                                              333) as amended by section 12 <i>\r\n                                              (c) </i>of the Securities Industry \r\n                                              (Amendment) Act, 2000 (Act 590).\r\n                                              </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -21.1pt; text-autospace: none; margin-left: 104.85pt; margin-right: .45pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;a person who performs the \r\n                                              functions of central securities \r\n                                              depository and / or provides \r\n                                              securities clearing and settlement \r\n                                              facilities&quot;. </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 36.0pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (2) Section 52 of the Companies \r\n                                              Code is hereby repealed. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 32.6pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &nbsp;(3) Section 82 of the Companies \r\n                                              Code is hereby repealed. </span>\r\n                                              </p>\r\n                                              <p class="MsoNormal" style="text-indent: 32.6pt; text-autospace: none; margin-right: .2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              (4) The First Schedule to the \r\n                                              Companies Code, is hereby amended \r\n                                              by the substitution of the \r\n                                              following for the definition of \r\n                                              the &quot;Register&quot; </span></p>\r\n                                              <p class="MsoNormal" style="text-align: justify; text-indent: -18.45pt; text-autospace: none; margin-left: 65.75pt">\r\n                                              <span style="font-family: Arial">\r\n                                              &quot;Register&quot; includes a Register \r\n                                              maintained in electronic form and \r\n                                              saved on any device including a \r\n                                              disc, tape, or other device in \r\n                                              which sounds or other data are \r\n                                              embodied so as to be capable (with \r\n                                              or without the aid of some other \r\n                                              instrument) of being reproduced \r\n                                              from the disc, tape or other \r\n                                              device.&quot; </span></p>\r\n                                              <p class="MsoNormal" style="text-autospace: none; margin-left: 91.7pt; margin-right: .2pt">\r\n                                              <span style="font-family: Arial">\r\n                                              Date of <i>Gazette </i>\r\n                                              notification: 24th May, 2007 .\r\n                                              </span></p>\r\n                                              <p class="MsoNormal">\r\n                                              <span style="font-family: Arial">&nbsp;</span></td>\r\n                </tr>\r\n              </tbody>\r\n            </table>\r\n          </td>\r\n        </tr>\r\n<tr>\r\n  <td width="76" height="50" bgcolor="#003366">&nbsp;</td>\r\n        </tr>\r\n', 'Fourth', 'Yes', 'ACT 733');
INSERT INTO `actsofghana` (`id`, `title`, `content`, `republic`, `isshow`, `actname`) VALUES
(144, 'CENTRE FOR URBAN TRANSPORTATION ACT, 2010', '<table>\n<tr>\n                                            <td vAlign="top" align="left" width="1344" height="64">\n                                              <p class="Style" align="right" style="text-align: right; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												ACT 799</span></b></p>\n												<p class="Style" align="center" style="text-align: center; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												ACT</span></b></p>\n												<p class="Style" align="center" style="text-align: center; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												OF THE PARLIAMENT OF THE \n												REPUBLIC OF GHANA</span></b></p>\n												<p class="Style" align="center" style="text-align: center; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												ENTITLED</span></p>\n												<p class="Style" align="center" style="text-align: center; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												CENTRE FOR URBAN TRANSPORTATION\n												</span></b>\n												<span style="font-family: Arial,sans-serif">\n												<b>ACT, 2010</b></span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												AN ACT to establish the Centre \n												for Urban Transportation to \n												serve as a Centre of expertise \n												in urban transportation and to \n												facilitate the conduct of \n												research into urban \n												transportation, provide \n												technical assistance and \n												knowledge on urban transport to \n												policy makers and for related \n												matters. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												DATE OF ASSENT: </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												PASSED by Parliament and \n												assented to by the President\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												Establishment, Object and \n												Functions of the Centre </span>\n												</i><b>\n												<span style="font-family: Arial,sans-serif">\n												Establishment of the Centre for \n												Urban Transportation </span></b>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												1. </span></b>\n												<span style="font-family: Arial,sans-serif">\n												(I) There is established by this \n												Act a body to be known as the \n												Centre for Urban Transportation.\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(2) The Centre is a body \n												corporate with perpetual \n												succession, and a common seal \n												and may sue and be sued in its \n												corporate name. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(3) The Centre may for the \n												performance of its functions \n												acquire and hold movable or \n												immovable property and may enter \n												into a contract or any other \n												transaction. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(4) Where there is hindrance to \n												the acquisition of property, the \n												property may be acquired for the \n												Centre under the State Property \n												and Contracts Act, 1960 (C.A. 6) \n												or the State Lands Act, 1962 \n												(Act 125) and the cost shall be \n												borne by the centre. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												Object of the Centre </span></b>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												2. </span></b>\n												<span style="font-family: Arial,sans-serif">\n												The object of the Centre is to \n												serve as a centre of expertise \n												and excellence in urban \n												transportation and to facilitate \n												the conduct of re­search into \n												Urban transportation systems in \n												order to improve urban \n												transportation in the country.\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												Functions of the Centre </span>\n												</b></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												3. </span></b>\n												<span style="font-family: Arial,sans-serif">\n												For the purpose of achieving its \n												object, the Centre shall </span>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(a) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												make recommendations on Urban \n												Transport Policy and Strategy \n												for the consideration of urban \n												transport policy makers, Urban \n												Transport Operators and managers \n												of the Urban Transport System;\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(b) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												provide innovative solutions to \n												urban transport problems; <i>(c)\n												</i>provide technical assistance \n												and knowledge on urban transport \n												to policy makers, regulators, \n												planners, operators and managers \n												of urban transport; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(d) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												on request, build the capacity \n												of relevant stakeholders in all \n												urban transportation and related \n												issues; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(e) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												provide information on \n												innovations, standards, policy \n												recommendations or schemes \n												developed by the Centre and \n												which may be applied to urban \n												transport policy, operations and \n												management, or to general \n												transportation or any other \n												relevant aspect of public policy \n												formulation; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(f) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												take relevant measures within \n												its mandate to draw the \n												attention of policy makers, \n												operators and managers of urban \n												transportation to the need to \n												take relevant multi-disciplinary \n												and multi-modal issues into \n												account in the development and \n												implementation of urban \n												transportation policy; </span>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(g) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												recommend appropriate \n												combination of traffic \n												engineering measures, management \n												and regulatory mechanisms of \n												public transport industry \n												including a Bus Rapid Transit \n												that may be implemented in \n												appropriate urban areas; </span>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(h) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												promote environmentally \n												sustainable modes of transport \n												and lowering of transport \n												related Green House Gas \n												emissions along transport \n												corridors and urban areas;\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(1) </span>\n												<span style="font-family: Arial,sans-serif">\n												initiate, conduct and support \n												research to improve urban \n												transportation; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(j) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												collect, collate, analyse and \n												disseminate up-to-date \n												information on urban transport \n												and issue guidelines on how \n												recommendations of the Centre \n												may be applied by persons and \n												entities in the public and \n												private sector; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(k) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												keep a database of persons and \n												entities that the Centre may \n												liaise and work with in the \n												performance of its function;\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(I) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												identify specific research and \n												other projects of relevance to \n												urban transport and make the \n												necessary recomIllendation to \n												government and other relevant \n												agencies; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(m) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												initiate, organise and \n												participate in promotional \n												activities including \n												exhibitions, conferences and \n												seminars for the stimulation of \n												discussions, the acquisition or \n												dissemination of knowledge on \n												specific urban transport issues;\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(n) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												collaborate with District \n												Assemblies, transport operators, \n												policy makers, Ministries, \n												Departments and Agencies and any \n												other entity concerned with \n												Urban Transport; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(0) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												keep a data base of \n												technological applications \n												relating to urban transport and \n												recommend appropriate \n												technologies that may be adopted \n												in this country; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(p) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												on request and subject to an \n												appropriate contract, monitor, \n												evaluate and audit the \n												implementation of government \n												policies on urban transport to \n												assess the effectiveness of \n												those policies; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(q) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												encourage co-ordinated \n												employment of modern urban \n												strategies; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(r) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												encourage and promote the \n												commercialization of research \n												results; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(5) </span>\n												<span style="font-family: Arial,sans-serif">\n												undertake or collaborate in the \n												collation, publication and \n												dissemination of the results of \n												research and other useful \n												technical information; </span>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(u) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												promote human resource \n												development in relation to urban \n												transport and to encourage the \n												training of urban transport\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												personnel and research workers \n												through the provision of grants \n												and fellowships; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(v) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												establish relationships and \n												collaborate with </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(i) relevant research \n												institutions, international and \n												local organisations, \n												universities, and the private \n												sector that have objectives \n												similar to the object of the \n												Centre; and </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(ii) other urban transportation \n												organisations for the sharing of \n												experiences, knowledge and \n												lessons among others; </span>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(w) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												provide consultancy services and \n												technical support services for a \n												fee; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(x) monitor and ensure the \n												performance of public bodies, \n												agencies and organisations in \n												relation to the use of services \n												received from the Centre; and\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(y) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												perform any other function \n												necessary for the attainment of \n												the object of the Centre </span>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												Governing Body of the Centre\n												</span></b></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												4. </span></b>\n												<span style="font-family: Arial,sans-serif">\n												(1) The governing body of the \n												Centre is a Board consisting of\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(a) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												a chairperson who shall be a \n												person with considerable \n												knowledge of urban transport and \n												who is not employed in the \n												public service; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(b) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												one representative each, not \n												below the rank of director of\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												the Ministry responsible for:</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												&nbsp;(i) Roads; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(ii) Transport; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(iii) Local Government; and (iv) \n												Environment; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(c) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												one representative each of the\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(i) Drivers and Vehicle \n												Licensing Authority; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(ii) National Development \n												Planning Commission; and (iii) \n												National Road Safety Commission;\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(d) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												one person appointed from an \n												accredited tertiary institution \n												that offers a programme in urban \n												transportation; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(e) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												two persons with experience in \n												urban transporta tion or \n												municipal engineering from the \n												private sector; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(f) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												one person representing urban \n												transport operators, selected in \n												consultation with urban \n												transport operators; and </span>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(g) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												the Chief Executive Officer of \n												the Centre. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(2) The Chairman and other \n												members of the Board shall be \n												appointed by the President of \n												the Republic in accordance with \n												article 70 of the Constitution.\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												Functions of the Board </span>\n												</b></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												5. </span></b>\n												<span style="font-family: Arial,sans-serif">\n												(1) The Board shall ensure the \n												proper and effective performance \n												of the functions of the Centre,\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(2) Without limiting subsection \n												(1), the Board shall </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(a) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												approve the annual operating \n												plan and budget of the Centre;</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												&nbsp;<i>(b) </i>review the quarterly \n												performance of the Centre \n												including the statement of \n												account; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(c) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												ensure cooperation and \n												coordination with stakeholders;\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(d) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												recommend remuneration of the \n												staff of the Centre; and <i>(e)\n												</i>institute measures to \n												facilitate the effectiveness ·of \n												the Centre and the attainment of \n												its object. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												Tenure of Office </span></b></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												6. </span></b>\n												<span style="font-family: Arial,sans-serif">\n												(1) A member of the Board shall \n												hold office for a period not \n												exceeding three years and is \n												eligible for re-appointment but \n												a member shall not be appointed \n												for more than two terms. </span>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(2) Subsection (1) does not \n												apply to the Chief Executive \n												Officer of the Centre. </span>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(3) A member of the Board may at \n												any time resign from office in \n												writing addressed to the \n												President through the Minister.\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(4) A member of the Board, other \n												than the Chief Executive Officer \n												of the Centre, who is absent \n												from three consecutive meetings \n												of the Board without sufficient \n												cause ceases to be a member of \n												the Board. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(5) The President may by letter \n												addressed to a member revoke the \n												appointment of that member.\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(6) Where a member of the Board \n												is, for sufficient reason, \n												unable to act as a member, the \n												Minister shall determine whether \n												the inability would result in \n												the declaration of vacancy.\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(7) Where there is a vacancy\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(a) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												under subsection (3), (4), (5) \n												or section 8 (2), or </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(b) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												as a result of a declaration \n												under subsection (6,) or </span>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(c) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												by reason of the death of a \n												member, the minister shall \n												notify the President of the \n												vacancy and the President shall \n												appoint a person to fill the \n												vacancy. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												Allowances </span></b></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												10. </span></b>\n												<span style="font-family: Arial,sans-serif">\n												Members of the Board and members \n												of a committee of the Board \n												shall be paid allowances \n												approved by the Minister in \n												consultation with the Minister \n												responsible for Finance. </span>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												Administration and Finance</span></i></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												&nbsp;</span></i><b><span style="font-family: Arial,sans-serif">Administration \n												and Divisions of the</span></b><span style="font-family: Arial,sans-serif">\n												<b>Centre </b></span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												11. </span></b>\n												<span style="font-family: Arial,sans-serif">\n												(1) The Board may establish \n												divisions or units it considers \n												necessary for the effective \n												performance of the functions and \n												the administration of the \n												Centre. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(2) Subject to subsection (1), \n												the Centre may have the \n												following divisions: </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(a) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												Technical Support; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(b) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												Capacity Development; </span>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(c) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												Urban Transport Policy Delivery;\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(d) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												Finance and Administration; and\n												<i>(e) </i>Monitoring and \n												Evaluation. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(3) There shall be appointed for \n												each division a Director and for \n												a Unit a Head. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(4) Each director or head shall \n												be responsible for the \n												management of the division or \n												unit and shall answer to the \n												Chief Executive Officer. (5) \n												Qualifications for the \n												appointment as director shall be \n												deter­mined by the Board. </span>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(6) The staff strength, duties \n												and functions of each division \n												or unit shall be determined by \n												the Board on the recommendation \n												of the Chief Executive Officer.\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(7) A regional or district \n												office of the centre shall be \n												provided with public officers \n												that the President shall appoint \n												in accordance with article 195 \n												of the Constitution. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(8) A regional or district \n												office of the Centre shall \n												perform the functions of the \n												Centre in the region or district \n												that the Board may direct.\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												Ministerial responsibility and \n												directives </span></b></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												12. </span></b>\n												<span style="font-family: Arial,sans-serif">\n												The Ministry of Local Government \n												and Rural Development shall have \n												ministerial responsibility for \n												the Centre and the Minister may \n												give directives to the Board on \n												matters of policy and the Board \n												shall comply. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												Chief Executive Officer </span>\n												</b></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												13. (1) The President in \n												accordance with article 195 of \n												the Constitution shall appoint a \n												person who has the requisite \n												qualifications, experience and \n												skills for the performance of \n												the functions of the Centre as \n												the Chief Executive Officer of \n												the Centre. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(2) The Chief Executive Officer \n												shall hold office </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(a) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												on the terms and conditions \n												specified in the letter of \n												appointment; and </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(b) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												for a term of not more than four \n												years but is eligible for \n												re­appointment. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												Functions of the Chief Executive \n												Officer </span></b></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												14. </span></b>\n												<span style="font-family: Arial,sans-serif">\n												(1) The Chief Executive Officer \n												is responsible for the day to \n												day administration of the Centre \n												and is answerable to the Board \n												fOf the per­formance of the \n												functions under this Act. </span>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(2) Without limiting subsection \n												(1), the Chief Executive Officer\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(a) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												direct and coordinate the work \n												of the Centre; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(b) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												with the assistance of the \n												directors of the divisions or \n												heads units draw up the \n												implementation plans, budget and \n												programme of activities of the \n												Centre for the approval of the \n												Board; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(c) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												collaborate with other \n												stakeholders to ensure that the \n												objectives of the Centre are \n												achieved; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(d) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												assist the Board to appraise the \n												performance contracts of other \n												management staff of the Centre; \n												and </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(e) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												perform other functions \n												determined by the Board as \n												necessary for the achievement of \n												the objective of the Centre.\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(3) The Chief Executive Officer \n												may delegate a function to an \n												officer of the Centre but shall \n												not be relieved from the \n												ultimate responsi­bility for \n												performance of the delegated \n												function. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												Performance Contracts </span>\n												</b></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												15. </span></b>\n												<span style="font-family: Arial,sans-serif">\n												The Board may enter into \n												performance contracts with the \n												Chief Executive Officer and \n												other managerial staff of the \n												Centre </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												Secretary of the Centre </span>\n												</b></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												16. </span></b>\n												<span style="font-family: Arial,sans-serif">\n												(1) The President in accordance \n												with the article 195 of the \n												Con­stitution shall appoint a \n												Secretary for the'' Board of the \n												Centre. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(2) The Secretary </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(a) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												is answerable to the Chief \n												Executive Officer; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(b) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												shall keep accurate records of \n												proceedings and decisions of the \n												Board; and </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(c) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												shall perform any functions \n												determined by the Board or the \n												Chief Executive Officer. </span>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												Appointment of other staff\n												</span></b></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												17. </span></b>\n												<span style="font-family: Arial,sans-serif">\n												(1) The President, in accordance \n												with article 195 of the \n												Constitu­tion, shall appoint \n												other staff of the Centre that \n												are necessary for the proper and \n												effective performance of the \n												functions of the Centre. </span>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(2) Other public officers may be \n												transferred or seconded to the\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												Centre or may otherwise give \n												assistance to the Centre. \n												&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; . </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(3) The Board may engage the \n												services of persons with \n												relevant expertise on the \n												recommendations of the Chief \n												Executive Officer. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												Funds of the Centre </span></b>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												18. </span></b>\n												<span style="font-family: Arial,sans-serif">\n												The funds of the Centre include \n												moneys </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(a) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												approved by Parliament for the \n												Centre; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(b) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												from fees paid for the provision \n												of services by the Centre to (i) \n												Metropolitan, Municipal and \n												District Assemblies, and </span>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(ii) Ministries Departments and \n												Agencies </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(c) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												from fees from the provision of \n												services which may be local\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												or international; </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(d) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												from proceeds received by the \n												Centre from investments; <i>(e)\n												</i>from funding from \n												Development Partners; </span>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<i>\n												<span style="font-family: Arial,sans-serif">\n												(f) </span></i>\n												<span style="font-family: Arial,sans-serif">\n												from donations, grants, gifts, \n												and income from other sources \n												received for the activities of \n												the Centre. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												Accounts and Audit </span></b>\n												</p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<b>\n												<span style="font-family: Arial,sans-serif">\n												19. </span></b>\n												<span style="font-family: Arial,sans-serif">\n												(1) The Board shall keep books \n												of account and proper records in \n												relation to them in the form \n												approved by the Auditor-General.\n												</span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(2) The Board shall submit the \n												accounts of the Centre to the \n												Auditor-General for audit within \n												three months after the end of \n												the financial year. </span></p>\n												<p class="Style" style="text-align: justify; margin-right: .55pt">\n												<span style="font-family: Arial,sans-serif">\n												(3) The Auditor-General shall, \n												not later than three months \n												after the receipt of the \n												accounts, audit the accounts and \n												forward a copy of the Audit \n												report to the Minister. </span>\n												</p>\n												<p></td>\n                </tr>\n              </tbody>\n            </table>\n          </td>\n        </tr>\n<tr>\n  <td width="76" height="50" bgcolor="#003366">&nbsp;</td>\n        </tr>\n', 'Fourth', 'Yes', '');

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