CmaBylaw
Executive Bylaws
5-32 Of Module Eleven: Dealing in Securities
Section: Chapter Five: Securities Subscription
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Sunday, 12 February 2017
Securities shall be subscribed by one or more Subscription Agents or other entity approved by the Authority. Subscription payments shall be deposited in a bank account opened by the Subscription Agent in the name of the Issuer. No withdrawals shall be made from such account unless for the purpose of transferring the total value of the subscription payments to the Issuer or returning payment to the subscribers in accordance with Article (5-39) of this Module in the event of the cancellation of the issue, unless otherwise provided for in the Prospectus.
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