Public Notice - Transfer Agents and/or Transfer Secretaries

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) hereby informs all persons carrying on business as Transfer Agents and/or Transfer Secretaries that they are required to apply for a licence to operate, in line with the Securities (Institutions Licensing) Regulations, 2017.

A Transfer Agent or Transfer Secretary is defined in Section 2 of the Securities Act, 2014 to mean “an entity which registers the transfer of ownership of securities”. This definition shall be limited to dealings of listed securities, i.e. Company Secretaries shall not form part of this definition.

A Nominated Transfer Agent or Transfer Secretary is defined in Section 2 of the Securities Act, 2014 to mean “an entity nominated by a central securities depository to maintain a physical share register for those shares not dematerialised into the central securities depository system”.

Transfer Agents and Transfer Secretaries are therefore advised to approach NBFIRA on or before April 30, 2019 to apply for a licence.

Sriram Gade (Mr.)

DEPUTY CHIEF EXECUTIVE OFFICER - REGULATORY

March 5, 2019