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

SECURITIES INDUSTRY [CH.363 – 55
for the grant, and in the case of the exercise of the right the
number or amount of securities in respect of which it is
exercised, and the name or names in which such securities
are registered.
(4) Nothing in this section shall operate so as to
impose an obligation with respect to the securities of a
company which is the wholly owned subsidiary of another
company, and for this purpose a company shall be deemed
to be the wholly owned subsidiary of another company if it
has no beneficial members except that other company and
any wholly owned subsidiaries of that other company.
(5) Where a public company is notified by a director,
officer or substantial shareholder of any matter relating to
securities of which he is required to give notice under this
section, or inscribes in its register any matter relating to
securities required to be inscribed under section 85 or
section 87, the public company shall inform the Commission
before the end of the day following the day of the
notification or inscription, as the case may be, and the
Commission may publish, in such manner as it may
determine, any information it receives under this subsection.
83. (1) A person is deemed to be interested in
securities of a public company, and for the purposes of
this Part only, deemed to be a director, officer or
substantial shareholder of that company where —
(a) the directors or management of that company
are accustomed to act in accordance with that
person’s directions or instructions; or
(b) that person is entitled to exercise or control the
exercise of one-tenth or more of the voting
authority at any general meeting of that company.
(2) A person is also deemed to be interested in
securities of a public company where —
(a) he enters into a contract for the purchase thereof
by him;
(b) he has a right to call for delivery thereof to
himself or to his order whether such right is
exercisable immediately or in the future;
(c) not being a registered holder thereof, he is
entitled (otherwise than by virtue of his having
Interest in
securities.
[Original Service 2001]
STATUTE LAW OF THE BAHAMAS