Section 349 Investments and Securities Act

Section 349 of the Investments and Securities Act 2025 is about Change of name of capital market operators, managers, portfolio or collective investment scheme and change of shareholding or directors. It is under Part XVIII (Miscellaneous Provisions) of the Act. It provides as follows:

(1) A capital market operator shall not, without the prior approval in writing of the Commission —
(a) change the name under which it is registered under this Act or change its shareholding or directors;

(b) use or refer to itself by a name other than the name under which it is so registered or a literal translation of it; or

(c) use or refer to itself by an abbreviation or a derivative of such name.

(2) Any change in the name of a capital market operator, manager, portfolio, scheme, shareholding or directors, shall not be effective without the prior approval in writing of the Commission.

(3) An exchange holding company shall not effect a change in its controlling shareholding without the prior consent of the Commission