Section 7: Allotment of shares of privatised enterprises.

(1) Subject to any direction of the Federal Government, the shares of the enterprises to be privatised under this Act shall be allotted in accordance with the provisions of subsection (2) of this section.
(2) Not less than 10 per cent and not more than 20 percent of the total shares on offer shall be allotted to associations and interest groups such as, but not limited to, State investment agencies, workers, trade unions, market women organisations, universities, friendly societies, local and community associations:
Provided that in the case of an over-subscription not more than 1 per cent of the shares on offer shall be allotted to each State through its investment agency.
(3) The remainder of shares not distributed in accordance with subsection (2) of this section shall be sold to the public in such manner and at such amounts as may be determined by the Allotment Committee of the Securities and Exchange Commission and approved by the Federal Government.
(4)
The allotment of shares under subsection (2) of this section shall give priority to subscriptions by workers and management as well as non-management of the particular enterprises to be privatised.
(5) Not more than 10 per cent of the shares on offer shall be reserved for the staff of the company.
(6) In the case of oversubscription, no individual shall be allowed to hold more than 1 per cent equity in any one enterprise.