Proposed Laws and Regulations

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Page last modified on Jan 5, 2012
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The following are laws and regulations under consideration. Please send your comments to CMDA.

Companies Amendment Bill

The Companies Act No. 10/96 has been submitted to parliament for amendment.

Companies Bill

Collective Investment Schemes Bill and Regualtions

The following are proposed Laws and Relevant Regulation Under Consideration.

The draft Law on Collective Investment Schemes (CIS) will make provisions relating to the establishment, operation, promotion and sale of collective investment schemes of all kinds. The CIS Law further provides for the regulation of all persons who are involved in certain specified activities in relation to collective investment schemes (for example as manager, operator or trustee/depositary).

Maldives Trust Bill

The draft Law on Trusts will make provisions relating to the establishment and operation of trusts of all kinds. For these purposes, a trust is any arrangement where one or more persons (a trustee or trustees) hold property for the benefit of another person or persons (a beneficiary or beneficiaries) or for a purpose which is not for the benefit of the trustee.

Maldives Trust Bill - (Draft)
Maldives Trust Bill - Explanatory Notes

Securities Depository Bill

Central Securities Depository Bill (Draft)

Draft Regulations

Regulation		Status
Guidelines on Principal Advisers	English	Open for review
Guidelines on Principal Advisers	Dhivehi	Open for review
Guidelines on Principal Advisers - FAQs	English
Guidelines for Underwriting of Securities by Banks	English	Open for review
Guidelines for Underwriting of Securities by Banks	Dhivehi	Open for review
Regulations on Issuance of Securities 2011	English	Open for review
Regulations on Issuance of Securities 2011	Dhivehi	Open for review
Regulations on Investment Adviser	English	Open for review
Regulation on Collective Investment Schemes (CIS)	English	Open for review

Guidelines on Advertisements related to Securities		In progress
Regulation on Principle Advisers		In progress
Guidelines on Corporate Municipal and Infra Structure Bonds (Government Securities)		In progress
Regulations on Underwriting of Securities		In progress
Islamic Securities Guidelines		In progress
Regulations on Shariah Advisers		In progress
Shariah Screening Guidelines for Islamic Securities		In progress
Guidelines on Offering of Islamic Asset Backed Securities		In progress

Proposed Regulations

Rules for Listing of Foreign Securities

Listing Rules for SME Board

Rules for listing Corporate, Municipal and Infrastructure Bonds

Regulations on Venture Capital Companies