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(1) A public company, closed-end collective investment scheme, statutory body, local government authority and any other organization that issues securities to the public shall register its securities with the Commission on terms and conditions prescribed by the Commission.

(2) Subsection (1) does not apply to the Central Government.

(3) The Commission shall issue a certificate of registration in respect of securities registered by the Commission.

(4) Securities referred to under subsection (1) shall not be listed on a securities exchange or transferred, sold or offered for sale to the public on any secondary market without the prior registration of the securities with the Commission.

(5) The issuer shall inform the Commission within twenty-one days of the cancellation or redemption of securities registered with the Commission.

(6) Securities of maturity of up to one year are exempted from registration with the Commission.