Section 313: Rules and regulations.

(1) The Commission may, from time to time, make rules and regulations for the purpose of giving effect to the provisions of this Act and may in particular and without prejudice to the generality of the foregoing provisions, make rules and regulations:
(a) to alter or modify, from time to time, in consultation with the Minister, the provisions of the Second Schedule to this Act ;
(b) prescribing the forms for returns and other information required under this Act;
(c) prescribing the procedure for obtaining any information required under this Act;
(d) requiring returns to be made within the period specified therein by any company or enterprise to which this Act applies;
(e) prescribing the procedure and criteria for approval of mergers, take-overs, acquisitions and business combinations under this Act;
(f) prescribing any fees payable under this Act;
(g) prescribing the procedure and criteria for regulating cross border offerings, listing and trading of securities by foreign issuers;
(h) prescribing that the provisions of this Act shall not apply or shall apply with such modifications (if any) as may be specified in the regulations to any person or class of persons or any securities or class of securities or to any transaction;
(i) prescribing the information to be contained in any prospectus or offer documents filed under this Act;
(j) prescribing the procedure, criteria for the authorisation, revocation and operation of collective investment schemes including prudential and product regulation;
(k) prescribing the activities which constitute "insider dealings" the rules governing dealings in securities by insiders and defining the term "insider dealings";
(l) without prejudice to the provisions of the Companies and Allied Matters Act specifying for the protection of investors:
(i) the matters to be disclosed relating to the public issue of securities, transfer of securities of public companies and other matters incidental thereto;
(ii) the returns that are required to be filed by all public companies;
(iii) the form, manner and procedure for obtaining proxies including the information to be disclosed to investors before proxies are given by any person; and
(iv) the manner in which such matters shall be disclosed by the companies.
(m) prescribing the requirement for the identification of persons doing business with capital market operators;
(n) prescribing as it deems appropriate, necessary rules for dealing with unclaimed dividends and unclaimed certificates by public companies and their agents;
(o) providing for anything requiring to be prescribed under this Act; and
(p) generally for carrying out the principles and objectives of this Act.
(2) The Commission shall in the exercise of powers to make rules in this section consult with stakeholders.
(3) Any instrument issued under subsection (1) of this section shall be under the signature of the Director-General of the Commission and the Secretary or any two members as may be authorised.
(4) Any regulation under this Act shall be deemed made fifteen days after receipt by the Minister unless the Minister, before the expiration of the fifteen days, directs that it be modified, amended or rescinded.
(5) Every regulation made by the Commission shall be published in the Gazette or any official document.
(6) Notwithstanding the provisions of subsection (1) of this section the Commission may, from time to time, amend or revoke rules or regulations for purposes of giving effect to the provisions of this Act and the rules and regulations made thereunder.
(7) Any regulations or rules made under this Act may, where appropriate, prescribe penalties for default.