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Financial Markets Act, 2012 (Act No. 19 of 2012)

Chapter III : Preliminary Provisions

Authorised users

18. Restriction on borrowing against and repledging of securities belonging to other persons

 

No authorised user may—

(a) borrow against pledged listed securities an amount in excess of the outstanding balance of any amount which the authorised user may have lent the pledgor against the pledged securities;
(b) repledge listed securities without the written consent of the pledgor.