MoF asks BSEC to shoulder rent for spl tribunal space

The ministry of finance (MoF) has asked the securities regulator to bear the rent of floor space, required to set up a special tribunal for the capital market, from its own funds until the law ministry gets budget allocations, officials said.   
The MoF said this in a letter sent to the Bangladesh Securities and Exchange Commission (BSEC) on April 21.
The instruction of the MoF came following a BSEC letter, which had been sent to the ministry on April 13 last, seeking funds for setting up the special tribunal for quick disposal of the capital market-related cases.
"The BSEC will bear the rent of the space for special tribunal for the time being. The law ministry will bear its rent if it gets budget allocation in favour of the tribunal in the annual budget of the fiscal year (FY) 2014-15," the letter of the MoF reads.
The BSEC Executive Director Mohammad Saifur Rahman said the securities regulator would bear the rent of the space required to set up the special tribunal for an interim period.
He said the BSEC was conducting discussions with the authorities of two buildings situated in Dilkusha area in the capital for hiring space to set up the special tribunal.
The government on December 10, 2012, amended the Securities and Exchange Ordinance 1969 making provisions for the establishment of a special tribunal to deal with cases relating to stock markets in response to a longstanding demand from different quarters.
On February 24, the government appointed Humayun Kabir Manik, who had been serving as district judge in Mymensingh, the judge of BSEC's special tribunal.