Acts Online
GT Shield

Securities Services Act, 2004 (Act No. 36 of 2004)

Chapter III : Exchanges

General provisions in relation to exchange

19. Buying and selling listed securities

 

A person may carry on the business of buying or selling listed securities if that person—

(a) is an authorised user;
(b) effects such buying or selling through an authorised user;
(c) is a financial institution transacting as principal with another financial institution also transacting as principal; or
(d) is a person who, subject to any condition that the registrar may prescribe, buys or sells listed securities in order to—
(i) give effect to a reconstruction of a company or group of companies by the issue or reallocation of shares, or a takeover by one company of another or an amalgamation of two or more companies; or
(ii) effect a change in the control over management or the business of a company.