Approved by the Ministry of Finance of the Republic of Tajikistan of April 20, 1993 No. 9/1-2
1. This instruction determines procedure for issue of licenses to professional participants of the security market and condition of occupation exchange activities in the Republic of Tajikistan.
2. Issue of licenses for the right of conducting professional activity on securities and exchange activities is performed according to the laws "About Joint-stock Companies", "About Securities and Stock Exchanges" and other legal acts.
3. This instruction extends on the legal entities performing professional intermediary activity on issue of securities, commission, commercial and other types of activity on securities.
The investment firms created in the form of business determined by the legislation of the Republic of Tajikistan, which are engaged in professional activity on securities and having the isolated capital and separate balance, and also banks, stock exchanges, share departments of other exchanges and other specialized agencies can be such legal entities.
Participation of foreign legal entities as investment firms is performed according to the current legislation.
4. The specified legal entities wishing to be engaged in professional activity on securities and exchange activities shall obtain the license in the Ministry of Finance in accordance with the established procedure.
Implementation by legal entities of professional activity on securities and exchange activities without license of the Ministry of Finance is forbidden.
The license can be granted on maintaining at the same time several types of professional activity on securities or on its separate type if they do not contradict each other.
5. The professional participants of the security market having the license can found stock exchange.
The registered stock exchange shall obtain the license for the right of exchange activities.
Persons who obtained the license for maintaining business activity on securities can perform commission activities only through stock exchange.
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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