Article 46 (1) of the Diploma no. 10/99, of February 24, conferred on the Minister of Planning and Finance the powers to authorize, by order and in general, the exercise of the activity of stock exchange operator by banks authorized to operate in Mozambique.
Thus, by Order dated June 14, 1999, the Minister of Planning and Finance authorized the banks with headquarters in the national territory to exercise the activity of stock exchange operator.
In addition, and in compliance with the provisions of articles 2 and 3 of article 99 of the Securities Market Code approved by Decree Law no. 4/2009, of July 24, Mozambique Stock Exchange issued Regulation no. 2 / GPCABVM / 2013, of April 16, which establishes the rules for the organization of the registration of stock exchange operators and their agents.
Stock exchange operators
Stock exchange operators are legally authorized entities to engage in financial intermediation activity on the Mozambique Stock Exchange.
The registration of a stock exchange operator in BVM depends on the submission of an application addressed to the Chairman of the Board of Directors:
- The social denomination of the stock exchange operator, indication of its share capital, its registered office, NUIT, and other identification elements;
- Identification of the members of the corporate bodies of the stock exchange operator, and identification of equity holders of more than 10%;
- Authenticated copy of the authorization for the exercise of the financial intermediation activity; and
- Authenticated copy of a document proving that security has been provided.
A non-refundable fee of the amount of 100,000.00 MT is due by subscription of stock exchange operators.
Ministerial Diploma no. 10/99, of February 24
Regulation on the organization and registration of stock exchange operators and Agents