The Securities and Exchange Ordinance, 1969
(
Ordinance
NO. XVII OF 1969
)
Chapter II
REGISTRATION AND REGULATION OF STOCK EXCHANGES
Restriction on dealings in securities
8. (1) No person shall transact any business in securities on any Stock Exchange unless he is a member thereof.
(2) No business shall be transacted on a Stock Exchange in a security, other than a Government security or a bonus entitlement voucher, which is not listed on such Stock Exchange [:
Provided that business of security which is de-listed or not listed may be transacted in such manner as the Commission may direct.]
(3) No person shall act as a [jobber or dealer] in a security listed on a Stock Exchange outside such Stock Exchange:
[* * *]
(4) No person other than a member shall act as a broker or a [jobber or dealer] for any security not listed on a Stock Exchange:
Provided that the prohibition in this sub-section shall not apply to discounting of any security evidencing a loan.
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Ministry of Law, Justice and Parliamentary Affairs