Section 13: Control of specified securities.

(1) The Minister may by order direct-
(a) that subject to the provisions of the order, no person shall, without the permission of the Minister, sell, transfer, or do anything which involves the creation of a charge on, securities whether by way of mortgage or pledge or otherwise of any such class as may be specified in the order, being a class of securities which in the opinion of the Minister, is likely to be marketable outside Nigeria; and
(b) that the owner of securities affected by the order shall, as prescribed in the order, make a return to the Minister giving such particulars with respect to those securities as may be required.
(2) During the continuance of an order made under this section if the Minister thinks fit for the purpose of strengthening the financial position of Nigeria, he may by a further order made generally with respect to specified securities of that class, or by directions given with respect to any securities of that class of which any particular person is the owner, require-
(a) that the securities to which the further order or the directions relate shall be sold in such manner and within such period as he may specify;
(b) that any foreign currency representing the proceeds of sale of those securities shall be disposed of in such manner as the Minister may prescribe; and
(c) that there shall be furnished to such person as may be prescribed in the order or directions such documents or information relating to the matters aforesaid as the circumstances may require.
(3) Any person who at the date of the further order or the giving of the directions is an owner of securities affected shall do all such things as are necessary or prescribed in the further order or the directions as the case may be and required to be done to give full effect to the order or directions.