case against listing in nairobi stock exchange

Topics: Board of directors, Stock, Executive director Pages: 40 (6204 words) Published: October 8, 2013
NAIROBI STOCK EXCHANGE LIMITED

MANAGEMENT
&
MEMBERSHIP
RULES

CONTENTS
INTERPRETATION .................................................................................. 3 DEFINITIONS .......................................................................................... 4 MANAGEMENT ....................................................................................... 8 1.

The Board ......................................................................................... 8

2.

Committees....................................................................................... 9

3.

Proceedings of Committees ............................................................ 14

4.

The Chief Executive........................................................................ 16

5.

Board and Committee Members Allowances .................................. 17

6.

Employees ...................................................................................... 18

MEMBERSHIP ....................................................................................... 19 1.

Qualifications for Membership......................................................... 19

1.1

Qualification for full Membership ................................................. 19

1.2

Qualification for Associate Membership. ..................................... 19

2.

Application Procedure..................................................................... 19

3.

Bank Guarantee.............................................................................. 19

4.

Independence ................................................................................. 20

5.

Suspension and Expulsion.............................................................. 20

6.

Liability of directors and officers...................................................... 20

7.

Floor Traders and Authorised Representatives............................... 20

8.

Transfer of Membership.................................................................. 21

9.

Company Name and Address ......................................................... 21

APPENDIX A.......................................................................................... 23 PART 1: MEMBERSHIP FEES .............................................................. 23 PART 2 : SITTING ALLOWANCES FOR MEMBERS OF THE BOARD 23

2

INTERPRETATION

The definitions used in the Capital Markets Act, Cap. 485A of the Laws of Kenya (including the Regulations and Guidelines issued thereunder), and the articles of association of Nairobi Stock Exchange shall apply to these rules. Unless inconsistent with the context, the singular includes the plural and the use of either gender includes the other.

Headings are purely for reference purposes and shall not be taken into account in the interpretation of the rules.

3

DEFINITIONS

The definitions contained herein shall be as prescribed under the Capital Markets Act Cap. 485A (including Regulations and Guidelines issued thereunder) and where appropriate, are repeated verbatim.

In these rules unless the context otherwise requires‘
Act’ refers to the Capital markets Act (Cap. 485A) and the Regulations and Guidelines issued thereunder.

Articles’refers to the articles of association of the Exchange. ‘
Authority’refers to the Capital Markets Authority.

Board’refers to the Board of Directors of the Exchange.

authorised securities dealer’ means a person authorized to deal in securities and operate in a specified market segment as may be prescribed by the Authority.

bad delivery’means a delivery that:
(i)
does not comply with the delivery requirements under the
Settlement rules and is not approved for registration by the Exchange; or
(ii)
is rejected by the registrar as not complying with the requirements. ‘
bidding advance’ refers to the allowable margins within which a trader may...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Case Essay
  • The Listing Regulations of the Dhaka Stock Exchange Limited Essay
  • Stock Exchange Essay
  • Stock Exchange Essay
  • Stock Exchange Essay
  • Stock Exchange Essay
  • Modules for Exchange Essay
  • Essay about Stock Case

Become a StudyMode Member

Sign Up - It's Free
minecraft game | Drama Series | Magic Kaito 1412