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bruneilawsby aturio
In forceAs enacted
Contents

Part VI · Public Company Statements and Reporting Requirements

151. Publicly tradable company requirements to minority shareholders

(1)

A publicly tradable company shall -

(a}

require issued securities to be fully paid up on a timely basis;

(b)

provide holders of securities that have voting rights with the right to vote by proxy; and

(c)

give to every holder of equity securities the pre-emptive right to subscribe to any newly offered equity securities or securities that can be converted into equity securities on a proportionate basis in the manner established by the Authority.

1348

{2)

The Authority shall have the power to publish such regulations as it thinks fit to supplement these requirements in order to protect the interests of the minority shareholders.

(3)

Members of the board of directors of a publicly tradable company have a duty to act in the interest of the company, for the benefit of all holders of securities.

Report

Read on from s 152

Part VII

Capital Markets Services Licence and Representative'S Licence

Read on from Part VII

Part VIII

Books, Audit and Client'S Assets

Part IX

Read on from Part IX

Part X

Intervention Powers of Authority

Read on from Part X

Part XI

Complaints Committee and Investor Compensation Scheme

Read on from Part XI

Part XII

Financial Markets Services Panel

Read on from Part XII

Part XIII

General

Read on from Part XIII