No. SEC/CMRRCD/2001-12/257 Dated:
Whereas, it is considered to be expedient that further amendments should be made in the Settlement of Stock Exchange Transactions Regulations, 1998 of the Dhaka Stock Exchange Ltd. and the Chittagong Stock Exchange Ltd. in the interest of the security investors and the capital market as well;
Now, therefore, in exercise of the power conferred by section 34, sub-section (4), of the Securities and Exchange Ordinance , 1969 (XVII of 1969), the Securities and Exchange Commission hereby directs both Dhaka Stock Exchange Ltd. and Chittagong Stock Exchange Ltd. to amend relevant provisions of the said Regulations of the exchanges for completing the settlement and clearance of each executed transaction in securities under ‘A’-category companies on the ‘T+4’, (i.e. T+2&T+4 respectively) basis, in place of the existing ‘T+5’, (i.e. T+3 & T+5 respectively) basis, which shall be effective from the first trading day commencing on the 20th March 2004.
Other relevant provisions of the said Regulations shall also be revised by the said exchanges on the basis of above amendment.
By order of the Commission
Dhaka Stock Exchange Ltd.
Chittagong Stock Exchange Ltd.