Securities registration is a legal requirement .The Securities Act No .41 of 2016 requires that the securities that are offered to the public are registered with the Commission. The following are the requirements for securities registration:
- File in a registration statement
- Supporting Documents to accompany the registration statement include:
- Certified copy of articles of association
- Certified copy of certificate of incorporation
- Annual report and accounts covering the last three years, immediately preceding the application, of issuer and its subsidiaries (shorter term may be accepted by Commission)
- Certified copy of resolution of issuer in general meeting authorizing the issue of securities in respect of which application is made
- Certified copy of the resolution of board of directors authorizing the issue and allotment of the securities the making of the application for registration, and approving and authorizing issue of prospectus (where prospectus is required)
- A certified copy of the resolution of the issuer in general meetings (or of the board) authorizing alteration in share capital, or any mergers or amalgamation within the last five years.
- Formal letter of application for the registration of securities signed by duly authorized company official.
- Copy of trust deed other document securing or constituting the securities for debt securities
- Such other documents as commission may require (in its sole discretion)