COMPENSATORY PAPER TO BECOME SECURITIES

Business | October 23, 2001, Tuesday // 00:00

All compensatory instruments issued as compensation to individuals will be made equal to securities in terms of trade. This is envisaged by the new amendments to the Public Offering of Securities Act. The amendments are to be tabled for approval in the Cabinet. The amendments aim at eliminating forgery or fraud in transfers of the document’s ownership. The step will also help the owners to get a fairer price. A separate segment on the stock exchange will be set up for compensatory paper trade. The compensatory instruments will be included in a centralized register.

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