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Capital Markets (Book Building) Regulations

Statutory Instrument 5 of 2016 Current version · as at 15 January 2016
Enacted2016
Commenced15 January 2016
Last amended—
Point-in-time consolidation · as at 15 January 2016. This page may not reflect amendments made after that date. Confirm the current position against the latest Uganda Gazette before relying on it.

About this Act

A full descriptive summary for this Act has not been recorded yet.

Jurisdiction
Uganda
Type
Principal Legislation
Status
In force
Language
English

Full text of the Act

6 parts · 41 sections

Enhanced Annotated View adds approved, source-linked propositions, operative requirements, judicial passages, related provisions, amendment notes and authority status. Choose Original PDF to inspect the source consolidation.

Uganda

Capital Markets (Book Building) Regulations

Commenced on 15 January 2016

[This is the version of this document at 15 January 2016.]

Part II

4. Book building portion

The text of this section isn't in the consolidation we hold — see the original PDF above.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Book building portion”.

“Book building portion”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Book building portion”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
5. Fixed price portion

The text of this section isn't in the consolidation we hold — see the original PDF above.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Fixed price portion”.

“Fixed price portion”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Fixed price portion”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
6. Approval of the information memorandum

The text of this section isn't in the consolidation we hold — see the original PDF above.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Approval of the information memorandum”.

“Approval of the information memorandum”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Approval of the information memorandum”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
7. Registration of the information memorandum with Uganda

Registration Service Bureau

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Registration of the information memorandum with Uganda”.

“Registration Service Bureau”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Registration of the information memorandum with Uganda”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
8. Book runner

The text of this section isn't in the consolidation we hold — see the original PDF above.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Book runner”.

“Book runner”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Book runner”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
9. Circulation of information memorandum

The text of this section isn't in the consolidation we hold — see the original PDF above.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Circulation of information memorandum”.

“Circulation of information memorandum”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Circulation of information memorandum”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
10. Records of orders on book building portion

The text of this section isn't in the consolidation we hold — see the original PDF above.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Records of orders on book building portion”.

“Records of orders on book building portion”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Records of orders on book building portion”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
11. Determination of offer price

The text of this section isn't in the consolidation we hold — see the original PDF above.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Determination of offer price”.

“Determination of offer price”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Determination of offer price”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
12. Adequate arrangements to secure payment

The text of this section isn't in the consolidation we hold — see the original PDF above.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Adequate arrangements to secure payment”.

“Adequate arrangements to secure payment”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Adequate arrangements to secure payment”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
13. Allotment date

The text of this section isn't in the consolidation we hold — see the original PDF above.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Allotment date”.

“Allotment date”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Allotment date”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
14. Offer of securities through book building

The text of this section isn't in the consolidation we hold — see the original PDF above.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Offer of securities through book building”.

“Offer of securities through book building”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Offer of securities through book building”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
15. Floor price or price band

The text of this section isn't in the consolidation we hold — see the original PDF above.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Floor price or price band”.

“Floor price or price band”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Floor price or price band”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
16. Determination of securities to be offered

The text of this section isn't in the consolidation we hold — see the original PDF above.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Determination of securities to be offered”.

“Determination of securities to be offered”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Determination of securities to be offered”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
17. Incentives prohibited

J 8. Communication of allocation to participating entities

Regulation

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Incentives prohibited”.

“J 8. Communication of allocation to participating entities”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Incentives prohibited”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history

Part I

1. Title

These Regulations may be cited as the Capital Markets (Book Building) Regulations, 2016.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Statutory power

This section confers or regulates the statutory power described as “Title”.

“These Regulations may be cited as the Capital Markets (Book Building) Regulations, 2016.”
Primary legislation Source quotation matched
Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

1
  1. These Regulations may be cited as the Capital Markets (Book Building) Regulations, 2016.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
2. Application

These Regulations apply to all offers of securities to the public or a section of the public that use book building to determine the price for the offer of securities.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Scope rule

This section defines when and how “Application” applies.

“These Regulations apply to all offers of securities to the public or a section of the public that use book building to determine the price for the offer of securities.”
Primary legislation Source quotation matched
Practical effect

Confirm that the matter and forum fall within this section before applying the Act's remaining provisions.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
3. Interpretation
(1)

In these Regulations, unless the context otherwise requires- "Act" means the Capital Markets Authority Act, Cap 84;

"Authority" means the Capital Markets Authority; "book building" means a process by which a demand for securities proposed to be issued by an issuer is elicited and built up and where the price of the securities is assessed for the determination of the quantum of the securities to be issued;

"book building portion" refers to the pool of securities that is available for offer and allotment to the participating entities through book building and which are segregated from the securities to be offered at a fixed price;

"book runner" refers to the primary coordinator of the book building in debt and equity offers; "information memorandum" means the memorandum required by the Act or these regulations io be furnished by or on behalf of an insurer, the securities of which are accepied for iisriag on or are the subject of an introduction to a stock exchange licensed by the /Authority; "participating cniity' means a person whose ordinary business o'* regular nedvity involves lhe buying and selling cf sec':rbhs; ?s principal, a id include:: an tniuei v/'Aer, a bank, and ar. insurance company, r fund manager, a broker, broker's representative, a dealer, dci-icrs represented''e, an hwesimei't adviser or investment adviser's representative acting as principal, subject to any exception mat may be prescribed by :he Authority; "syndicate member" means market intermediaries licensed by the Authority. (/.) .Any word, teem cr expression used in these Regulations, and which is defined in rhe Act, has the meaning assigned to u in ihe Act. Part If-3oo:c Luildimg b-uisdhig per-'Oix The portion of the securities offered to the public that arc to be available for die book building shall be identified in the information memorandum as the book building portion.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Definition

This section supplies the definitions or statutory meaning governing “Interpretation”.

“(1) In these Regulations, unless the context otherwise requires-”
Primary legislation Source quotation matched
Practical effect

Use this definition when interpreting other provisions that employ the language addressed by “Interpretation”.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

3
  1. "Authority" means the Capital Markets Authority; "book building" means a process by which a demand for securities proposed to be issued by an issuer is elicited and built up and where the price of the securities is assessed for the determination of the quantum of the securities to be issued;
  2. "book building portion" refers to the pool of securities that is available for offer and allotment to the participating entities through book building and which are segregated from the securities to be offered at a fixed price;
  3. "book runner" refers to the primary coordinator of the book building in debt and equity offers; "information memorandum" means the memorandum required by the Act or these regulations io be furnished by or on behalf of an insurer, the securities of which are accepied for iisriag on or are the subject of an introduction to a stock exchange licensed by the /Authority; "participating cniity' means a person whose ordinary business o'* regular nedvity involves lhe buying and selling cf sec':rbhs; ?s principal, a id include:: an tniuei v/'Aer, a bank, and ar. insurance company, r fund manager, a broker, broker's representative, a dealer, dci-icrs represented''e, an hwesimei't adviser or investment adviser's representative acting as principal, subject to any exception mat may be prescribed by :he Authority; "syndicate member" means market intermediaries licensed by the Authority. (/.) .Any word, teem cr expression used in these Regulations, and which is defined in rhe Act, has the meaning assigned to u in ihe Act. Part If-3oo:c Luildimg b-uisdhig per-'Oix The portion of the securities offered to the public that arc to be available for die book building shall be identified in the information memorandum as the book building portion.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions
Capital Markets Authority Act
Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
5. Fixed price portion The balance of securities constituting the offer to the public, excluding the book building portion, shall be separately identified in the information memorandum as the

fixed price portion

6. Approval of the information memorandum
(1)

Every information memorandum shall be submitted to the Authority for approval prior to the opening of the book building.

(2)

The information provided in an information memorandum shall comply with the requirements for a prospectus in the Capital Markets Authority (Prospectus Requirements) Regulations and with these Regulations. (3) Subject to subreg illation (2), an information memorandum shall disclose- (a) the size of the issue and the amounts io be raised through the book building and fixed price portions; (b) the criteria for bid consideration and selection in the book building process; (c) die duration of the book building period; (d) the method and process of bidding; (e) the price of the offer; (f) the number of securities to be issued; and (g) the names and addresses of the book runners or syndicate members who operate the bidding terminals at which bids are submitted.

(4)

Notwithstanding subregulation (3), the Authority may approve an information memorandum pending inclusion of the price of die offer and the number of securities to be issued.

7. Registration of information memorandum with Uganda Registration Service Bureau

The information memorandum shall be registered with Uganda Registration Service Bureau after the approval by the Authority S. Rock nrnner (1) A book runner shall be responsible for book building. (2) A book runner shall be appointed by the issuer from amongst persons who are licensed by the Authority to act as transaction or investment advisers and shall be identified as such in the information • nemoi a -idum.

9, Circulation of information memorandum The information memorandum approved by the Authority shall be circulated by the book runner to the participating entities inviting offers for the securities in respect of the book building portion.

30. Records of orders on. book building portion
(1)

A book runner shall, on receipt of the orders, maintain a record of all the participating entities.

(2)

A book runner shall maintain the records of the names and number of securities ordered and the price at which a participating entity is offering to subscribe to securities under the book building portion.

£1. Determniatioxi of offer price (1) The offer price at which the securities are offered to the public shall be determined by the book runner and the issuer. (2) The offer price shall be determined upon closure of the book building period and following a review of the orders received, in accordance with the criteria disclosed in the information memorandum. (3) For the avoidance of doubt, the issue price for the book building portion and fixed price portion categories shall be the same.

.12. Adecmate arrangements to secure payment (1) An issuer and a book runner shall ensure that adequate arrangements for funds arc made by all the participating entities to support any offers lodged during the book building. (2) The nature of the arrangement required of participating entities shall be disclosed in the information memorandum.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Mandatory duty

This section imposes mandatory requirements concerning “Records of orders on. book building portion”.

“(1) A book runner shall, on receipt of the orders, maintain a record of all the participating entities.”
Primary legislation Source quotation matched
Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

2
  1. (1) A book runner shall, on receipt of the orders, maintain a record of all the participating entities.
  2. (2) A book runner shall maintain the records of the names and number of securities ordered and the price at which a participating entity is offering to subscribe to securities under the book building portion.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
13. Allotment date

The information memorandum shall specify a specific dale of allotment which shall apply to the book building and fixed price portions

14. Offer of securities through book building
(1)

An issuer may offer securities through book building.

(2)

An issuer may offer up to one hundred per cent of the offer securities subject, where appropriate, to compliance with the eligibility requirements for listing on a particular stock exchange.

15. Floor price or price band
(I)

The floor price or an indicative price band for the book building portion may be prescribed in the information memorandum.

(2)

The information memorandum shall provide the basis for the determination of the floor price or price band in sub regulation (J).

1-5. Determine'ion of securities to be offered. The securities tn be offered shall be determined based on the issue size divided by the floor price or price band.

17. Incentives prohibited

An incentive, whether in cash or kind, shall not be paid to an investor to participate in book building.

18. Comnuuncntfon of aHocnlion to participathig endt-es The book runner on determination of the entitlements shall communicate .to the respective participating entities the number of securities which each participating entity is to be allocated within twenty four hours and a return on all allocations shall be made to

the Authority within the same period

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Statutory power

This section confers or regulates the statutory power described as “Comnuuncntfon of aHocnlion to participathig endt-es The book runner on determination of the entitlements shall communicate .to the respective participating entities the number of securities which each participating entity is to be allocated within twenty four hours and a return on all allocations shall be made to”.

“the Authority within the same period”
Primary legislation Source quotation matched
Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history

Part III

19. Syndicate members
(1)

The information memorandum shall disclose the particulars of the syndicate members of a book runner, where more than one book runner is appointed.

(2)

The rights, obligations and responsibilities of each syndicate member shall be defined in a binding agreement.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Mandatory duty

This section imposes mandatory requirements concerning “Syndicate members”.

“(1) The information memorandum shall disclose the particulars of the syndicate members of a book runner, where more than one book runner is appointed.”
Primary legislation Source quotation matched
Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

2
  1. (1) The information memorandum shall disclose the particulars of the syndicate members of a book runner, where more than one book runner is appointed.
  2. (2) The rights, obligations and responsibilities of each syndicate member shall be defined in a binding agreement.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
20. Statement of bases for issue price
(1)

The information memorandum shall include a statement of basis for the issue price.

(2)

The statement of basis for the issue price shall be stated as follows- "The issue price has been determined by the issuer in consultation with the book runner, on the basis of assessment of demand from the participating entities for the offered securities by way of book building?'

21, Accounting ratio (1) The information memorandum shall disclose the accounting ratio under the basis for issue price.

(2)

The accounting ratio shall, where applicable be given under the basis for the issue price for each of the accounting periods for which the financial information is given.

(3)

Any of the following accounting ratios may be adopted-

(a)

the earning per share, pre-issue, for the last five years, as adjusted for changes in the capital;

(b)

the price earning ratio (P/E), pre-issue and a comparison of this with the industry (P/E), where available;

(c)

the net assets in the last five years; or

(d)

the net- asset value per share based on the last balance sheet.

(4)

The accounting ratio shall be calculated after giving effect to the consequent increase of capital oi. account of the compulsory conversions which are outstanding, and on the assumption that any outstanding option to subscribe for additional capital shall bo exercised.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Statutory power

This section confers or regulates the statutory power described as “Statement of bases for issue price”.

“(1) The information memorandum shall include a statement of basis for the issue price.”
Primary legislation Source quotation matched
Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

9
  1. (1) The information memorandum shall include a statement of basis for the issue price.
  2. (2) The statement of basis for the issue price shall be stated as follows- "The issue price has been determined by the issuer in consultation with the book runner, on the basis of assessment of demand from the participating entities for the offered securities by way of book building?'
  3. (2) The accounting ratio shall, where applicable be given under the basis for the issue price for each of the accounting periods for which the financial information is given.
  4. (3) Any of the following accounting ratios may be adopted-
  5. (a) the earning per share, pre-issue, for the last five years, as adjusted for changes in the capital;
  6. (b) the price earning ratio (P/E), pre-issue and a comparison of this with the industry (P/E), where available;
  7. (c) the net assets in the last five years; or
  8. (d) the net- asset value per share based on the last balance sheet.

1 further item remain in the statutory text above.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history

Part IV

22. E'«ciro.c'c bidd'.r?"

(!) Bidding under the book building shall be conducted on an eleolronlcidly linked transparent system of computer terminals.

(2)

A syndicate member shall ensile mat at least one eiecuoiiicaliy Hked compute- terminal is ava:iab:e -or purposes of bidding at ? •<?cat»on where 'rids may be submitted.

(3)

Subject io subreguiation (I) the AnihorUy may, in writing, authorise bidding to be conducted otherwise than on an electronic system.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Statutory power

This section confers or regulates the statutory power described as “E'«ciro.c'c bidd'.r?"”.

“(!) Bidding under the book building shall be conducted on an eleolronlcidly linked transparent system of computer terminals.”
Primary legislation Source quotation matched
Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

2
  1. (2) A syndicate member shall ensile mat at least one eiecuoiiicaliy Hked compute- terminal is ava:iab:e -or purposes of bidding at ? •<?cat»on where 'rids may be submitted.
  2. (3) Subject io subreguiation (I) the AnihorUy may, in writing, authorise bidding to be conducted otherwise than on an electronic system.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
23. Cuhrmssio:: . of.Dk3s
(1)

Bids shall be submitted in the locations specified in the i- • form a lion rnc m ora nd uni.

(2)

An investor shall place bids only through syndicate member who shall accept only bids from panic ieating entities. r.,''■ i:••■?.don of /dds (!) .An investor shall have Lie right to revise a bid using *hc procedure prescribed in the information memorandum.

(2; Notwithstanding subregulation (!), where bidding is conducted under regulation 22 (3) an investor shall not have a right to revise bids.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Mandatory duty

This section imposes mandatory requirements concerning “Cuhrmssio:: . of.Dk3s”.

“(1) Bids shall be submitted in the locations specified in the i- • form a lion rnc m ora nd uni.”
Primary legislation Source quotation matched
Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

2
  1. (1) Bids shall be submitted in the locations specified in the i- • form a lion rnc m ora nd uni.
  2. (2) An investor shall place bids only through syndicate member who shall accept only bids from panic ieating entities. r.,''■ i:••■?.don of /dds (!) .An investor shall have Lie right to revise a bid using *hc procedure prescribed in the information memorandum.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
25. Bidding form
(1)

The issuer shall prescribe a standard bidding form. (2) The standard bidding form shall contain information about the investor, the price and the number of securities that the investor wishes to bid for.

(3)

The standard bidding forms shall be serially numbered.

(4)

The bidding form shall be stamped with the date and time of issuance prior to being issued in duplicate, signed by the investor and countersigned by a syndicate member with one form retained by the investor and the other by die book runner or the syndicate member.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Mandatory duty

This section imposes mandatory requirements concerning “Bidding form”.

“(1) The issuer shall prescribe a standard bidding form. (2) The standard bidding form shall contain information about the investor, the price and the number of securities that the investor wishes to bid for.”
Primary legislation Source quotation matched
Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

3
  1. (1) The issuer shall prescribe a standard bidding form. (2) The standard bidding form shall contain information about the investor, the price and the number of securities that the investor wishes to bid for.
  2. (3) The standard bidding forms shall be serially numbered.
  3. (4) The bidding form shall be stamped with the date and time of issuance prior to being issued in duplicate, signed by the investor and countersigned by a syndicate member with one form retained by the investor and the other by die book runner or the syndicate member.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
25. Bidding pericd Bidding during book building

shall be open for at least three days

27. Display of demand
(1)

A book runner shall at the end of each day of the bidding period, display the demand for securities graphically on the computer terminals for the information of the syndicate members and the investors.

(2)

A book runner shall maintain a record of the demand for securities.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Mandatory duty

This section imposes mandatory requirements concerning “Display of demand”.

“(1) A book runner shall at the end of each day of the bidding period, display the demand for securities graphically on the computer terminals for the information of the syndicate members and the investors.”
Primary legislation Source quotation matched
Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

2
  1. (1) A book runner shall at the end of each day of the bidding period, display the demand for securities graphically on the computer terminals for the information of the syndicate members and the investors.
  2. (2) A book runner shall maintain a record of the demand for securities.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history

Part V

28. Allocation in case of under subscription

In case of an under subscription of securities in a category, the under subscribed portion may be allocated to the bidders in the other category, in accordance with the allocation policy disclosed in the information memorandum

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Statutory power

This section confers or regulates the statutory power described as “Allocation in case of under subscription”.

“In case of an under subscription of securities in a category, the under subscribed portion may be allocated to the bidders in the other category, in accordance with the allocation policy disclosed in the information memorandum”
Primary legislation Source quotation matched
Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

1
  1. In case of an under subscription of securities in a category, the under subscribed portion may be allocated to the bidders in the other category, in accordance with the allocation policy disclosed in the information memorandum
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
29. Allocation criteria for book building co

be disclosed The allocation of securities to investors under the book building portion shall be determined by the issuer and the book runner in accordance with criteria set out in the information memorandum

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Mandatory duty

This section imposes mandatory requirements concerning “Allocation criteria for book building co”.

“be disclosed The allocation of securities to investors under the book building portion shall be determined by the issuer and the book runner in accordance with criteria set out in the information memorandum”
Primary legislation Source quotation matched
Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

1
  1. be disclosed The allocation of securities to investors under the book building portion shall be determined by the issuer and the book runner in accordance with criteria set out in the information memorandum
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
30. Period of fixed price offer
(1)

The offer period for the fixed price portion shall open within fifteen working days from the date of closure of bidding and may be extended by the Authority.

(2)

The fixed price offer shall remain open for a period of at least ten working days.

31. Investors eligible to make application in

feed price offer An investor who participates in book building shall not be barred from participating in the fixed price portion of the offer

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Scope rule

This section defines when and how “Investors eligible to make application in” applies.

“feed price offer An investor who participates in book building shall not be barred from participating in the fixed price portion of the offer”
Primary legislation Source quotation matched
Practical effect

Confirm that the matter and forum fall within this section before applying the Act's remaining provisions.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

1
  1. feed price offer An investor who participates in book building shall not be barred from participating in the fixed price portion of the offer
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history

Part VI

32. Separate collection accounts

An issuer shall maintain two separate accounts for the collection of application fees as follows (a) an account for the book building portion category; and

(b)

an account for the fixed price portion category.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Mandatory duty

This section imposes mandatory requirements concerning “Separate collection accounts”.

“An issuer shall maintain two separate accounts for the collection of application fees as follows (a) an account for the book building portion category; and”
Primary legislation Source quotation matched
Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

1
  1. (b) an account for the fixed price portion category.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
33. Book runner to maintain result of the allocation process

A. book runner shall maintain a final book of demand showing the result of the allocation process.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Mandatory duty

This section imposes mandatory requirements concerning “Book runner to maintain result of the allocation process”.

“A. book runner shall maintain a final book of demand showing the result of the allocation process.”
Primary legislation Source quotation matched
Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

1
  1. A. book runner shall maintain a final book of demand showing the result of the allocation process.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
34. Records to be maintained A book runner, any syndicate member and the participating entities involved in the book building shall maintain adequate records

on the book building

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Records to be maintained A book runner, any syndicate member and the participating entities involved in the book building shall maintain adequate records”.

“on the book building”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Records to be maintained A book runner, any syndicate member and the participating entities involved in the book building shall maintain adequate records”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
35. Power to inspect records

The Authority may inspect all records, books and documents relating to book building GRACE JETHRO KAVUMA, Chairperson, Capital Markets Authority.

A3

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Statutory power

This section confers or regulates the statutory power described as “Power to inspect records”.

“The Authority may inspect all records, books and documents relating to book building GRACE JETHRO KAVUMA, Chairperson, Capital Markets Authority.”
Primary legislation Source quotation matched
Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

1
  1. The Authority may inspect all records, books and documents relating to book building GRACE JETHRO KAVUMA, Chairperson, Capital Markets Authority.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history

Original Laws of Uganda consolidation (as at 15 January 2016) — public-domain legislation, consolidated by ULII / Laws.Africa (CC BY 4.0). This is a point-in-time text and may not reflect later amendments; confirm against the latest Uganda Gazette before relying on it.