Securities Industry Act - The Bahamas Laws On-Line - The ...

SECURITIES INDUSTRY [CH.363 – 11
contracts, whether or not that person is, or is to
become a party to the agreement or proposed
agreement, or unless the agreement is or would
be an agreement, or is or would be within a class
of agreements, prescribed by regulations for the
purpose of this subsection;
(iii) any negotiable receipt or other negotiable
certificate or document evidencing the deposit of
a sum of money, or any rights, or interest arising
under any such receipt, certificate, or document;
(iv) any bill of exchange and any promissory note
within the meaning of the Bills of Exchange Act;
(v) any debenture that specifically provides that it is
not negotiable or transferable;
(vi) bank contracts for spot or forward foreign
exchange transactions in currencies, excluding
currency options.
(3) Notwithstanding subsection (2), the Commission
shall have the authority to designate or to exempt any
financial instrument from the definition of a security under
this Act.
PART II
SECURITIES COMMISSION
3. (1) The body corporate established under section
3 of the repealed Act and known as the Securities Board is
preserved and shall continue in existence by virtue of and
for the purposes of this Act but shall be known after the
commencement of this section as the Securities Commission
of The Bahamas.
(2) The Schedule shall have effect with respect to the
Commission, its members and staff.
4. (1) The functions of the Commission shall be —
(a) to formulate principles to regulate and govern
mutual funds, securities and capital markets;
(b) to maintain surveillance over mutual funds,
securities and capital markets ensuring orderly,
fair and equitable dealings;
(c) to create and promote conditions to ensure the
orderly growth and development of the capital
markets;
Ch. 335.
Establishment of
Commission.
Schedule.
Functions of the
Commission.
LRO 1/2002
STATUTE LAW OF THE BAHAMAS