Amendments to the Stock Exchanges Control Act, No. 1 of 1985 ("The Act")
The restructuring of the JSE was largely dependent upon Parliament agreeing to appropriate amendments to the Act. The Stock Exchanges Control Amendment Bill was approved by Parliament on 13 September 1995.
Many aspects of the JSE's previous structure had been entrenched in the Act. These were:
- natural person membership;
- unlimited liability;
- single trading capacity; and
- floor trading.
The deregulating amendments to the Act now provide more appropriate enabling legislation, allowing the JSE, through its rules, to adopt the best possible competitive structure to meet the long-term vision.
Whilst every care has been taken in the preparation of this article, the JSE is not responsible for any errors or omissions contained therein. Readers should therefore study the original Act, rules and other documents referred to or consult with the JSE before acting on any information supplied.
For further information kindly contact: JSE Public Relations Department, PO Box 1174, Johannesburg 2000. Tel: 377 2200; Fax: 834 7402; or do a text search "Johannesburg Stock Exchange" and "Business Monitor".