| a) |
Capital Markets And Securities Act [PRINCIPAL LEGISLATION]Acts Nos.5 of 1994
: An Act to establish a Capital Markets and Securities Authority for the purposes of promoting and facilitating the development of an orderly, fair and efficient capital market and securities industry in Tanzania, to make provisions with respect to stock exchanges, stockbrokers and other persons dealing in securities, and for connected purposes.
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| b) |
Capital
Markets and Securities (Foreign Companies Public Offers Eligibility
and Cross Listing Requirements) Regulations, 2003.
: These Regulations may be cited as the Capital Markets and
Securities (Foreign Companies Public Offers Eligibility and
Disclosure Requirements) Regulations,2003 and shall come into effect
from 21st May,2003
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itories System.
| c) |
Capital
Markets and Securities (Foreign Companies Public Offers Eligibility
and Cross Listing Requirements) Regulations, 2003 [as amended
in 2005]: These Regulations provide for the participation
in the capital markets by foreign issuers of securities, in
terms of the eligibility criteria and the disclosure requirements
for such companies to make public offers or cross list at the
DSE. |
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itories System.
| d) |
Capital
Markets and Securities (Foreign Investors) Regulations, 2003:
These Regulations set out the limit of aggregate securities
to be held by foreign investors. These Regulations also prescribe
the manner and conditions under which foreign investors will
participate at the DSE, the mechanism by which the Authority
can monitor observance of the prescribed limits by the DSE and
Central Depos
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| e) |
Capital Markets and Securities (The Capitalization
and Rights Issue) Regulations, 2000: These Regulations
set out the disclosure requirements that an issuer is obliged
to comply with during capitalization by way of Rights Issue. |
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| f) |
Capital Markets and Securities (Collective
Investment Schemes) Regulations, 1997:To supplement
the Capital Markets and Securities Act, these Regulations make
detailed provisions relating to the roles of managers, trustees,
schemes, trust deeds, pricing, issue and redemption of units
/ shares and other relevant matters. |
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| g) |
Capital Markets and Securities (Conduct
of Business) Regulations, 1997: The Conduct of Business
list rules on conduct including inducements, churning, customer
right, confidentiality, charges, execution in addition to the
conduct of business provisions provided in the Capital Markets
and Securities Act. |
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| h) |
Capital Markets and Securities (Advertisements)
Regulations, 1997: These Regulations relate to the
vetting of securities advertisements by the Authority and it
provides for a number of conditions that have to be met by advertisers
in the securities business. Conditions include the requirement
for the content and presentation of the advertisement. The advertisement
has to be factual, that is comparison or contrasting of investment
should not be done unless it is fair, or it should not contain
unfair or otherwise misleading matters or it should not exaggerate
the success or performance of the company. |
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| i) |
Capital
Markets and Securities (Accounting and Financial Requirements)
Regulations, 1997: These Regulations provide for
the maintenance of accounting records (including audit trail),
preparation of the annual financial statements as well of treatment
of customer money in accordance with the law (i.e. in trust
for the client). These Regulations were amended in 2003 to include
provisions for penalties in case of non-compliance on the part
of dealers. These Regulations supplement provisions on accounts
and audit, which are contained in the Capital Markets and Securities
Act. |
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| j) |
Capital Markets and Securities (Prospectus
Requirements) Regulations, 1997: These Regulations
supplement the general provisions on public issues of securities
which are contained in the Capital Markets and Securities Act.
The prospectus is an important document which is required where
a public offer is being made. The items required to be included
in the prospectus are listed in the Regulations. These include
matters to be stated in the first page of the prospectus. Others
include information on the right of holders, information on
bankers, capital of the issuer, debt of the issuer, any material
contracts, the use of the proceeds from the issue etc. |
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| k) |
Capital Markets and Securities (Licencing)
Regulations, 1996 : These Regulations set out the procedures
to be complied with by the applicants for licencing for example
dealers, investment advisers or their representatives. The requisite
application forms are prescribed in the Regulations. General
conditions relating to licences once obtained are also provided
for, including the provision that the licence shall be personal
to the applicant and the requirement for a licencee to inform
the Authority (by written notice) of any relevant alterations. |
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| l) |
Capital Markets and Securities (Establishment
of Stock Exchange) Regulations, 1996: These Regulations
provide for procedures for the establishment of a Stock Exchange.
Applications for establishment of a Stock Exchange are to be
made by a corporate body to the Authority, which grants approval
subject to certain conditions, and will continue to regulate
the stock exchange once it is approved. |
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| m) |
Capital Markets and Securities (Registers
of Interests in Securities) Regulations, 1996: Certain
market players are required by the Act to maintain a register
in the prescribed form of the securities in which he / she has
an interest. These Regulations therefore include the prescribed
forms as well as a provision for varying of the form of register
by the Authority where necessary. The registers of interest
in securities enable transactions to be easily traceable by
the Authority and other interested parties thus providing the
requisite transparency in securities transactions. |
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| n) |
Capital
Markets and Securities Authority Enforcement Guidelines, 2004:
These Guidelines set out the practices and procedures to be
followed by the CMSA when conducting investigations or inquiries
where there is breach of the law by market participants or otherwise. |
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| o) |
Capital Markets and Securities Scheme of
Service, Staff Regulations and Code of Conduct, 2003:
In February 2003, the Authority approved the Capital Markets
and Securities Authority Scheme of Service, Staff Regulations
and Code of Conduct to among other things guide the affairs
of its staff, carrying out staff procedures and to set out criteria
governing salary entry points, the mode of movement from entry
point to retirement and the criteria for movement. |
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| p) |
Capital
Markets and Securities (Conflict of Interest) Guidelines, 2002:
The Guidelines aim at giving members of the Authority and employees
of the CMSA a framework within which to deal with conflicts
of interest and other related matters. They are also intended
to protect members of the Authority and employees of the CMSA
against any suggestions that regulatory decisions have been
influenced by personal interests or that their investment decisions
are made by using insider information.
These Guidelines include general principles on conflicts of
interest, the policy on employees’ interests, securities
transactions by employees and Authority members, treatment of
gifts and consequences of default. |
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| q) |
Capital
Markets and Securities (Corporate Governance) Guidelines, 2002:
These Guidelines aim at improving and strengthening corporate
governance practices by issuers of securities through the capital
markets and promote the standards of self-regulation so as to
raise the level of governance in line with international trends.
The Guidelines have been issued in view of the role that good
governance has in corporate performance, capital formation and
maximization of shareholders value in addition to protection
of investors’ rights.
The Guidelines apply to public listed companies and any other
issuers of securities through the capital markets including
issuers of debt instruments. |
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| r) |
Guidelines for the Issuance of Corporate
Bonds and Commercial Paper, 1999: These Guidelines
set out the disclosure requirements that an issuer is obliged
to comply with when applying for issuance of a Corporate Bond
or a Commercial Paper. |
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| s) |
Substantial Acquisitions Takeovers and Mergers
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| t) |
Capital Markets and Securities (Custodian Securities)
Regulations, 2006: These regulations may be cited as the
Capital Markets and Securities (Custodian of Securities) Regulations, 2006.
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Rules
and Regulations
