28. The Securities and Futures Act (Cap. 289) is amended ––
by deleting the definition of “commodity” in section 2(1) and substituting the following definition:
“ “commodity”, in relation to a futures contract, means gold or any produce, item, goods, article or financial instrument, and includes an index, right or interest in such commodity other than a financial instrument; and such other index, right or interest of any nature as the Authority may, by notification in the Gazette, prescribe to be a commodity;”;
by inserting, immediately after section 4A, the following section:
4B. This Act does not apply to ––
a body corporate approved as a clearing house under section 9 of that Act; or
the holder of a licence issued under that Act when acting lawfully under that Act,
but only to the extent that the activities carried out by such person are regulated under that Act.”; and
by inserting, immediately after section 341, the following section:
—(1) The Authority may by regulations prescribe such provisions as it may consider necessary or expedient for the purpose of applying this Act in relation to commodity futures contracts, trading in futures contracts, commodity futures brokers, commodity futures broker’s representatives, Commodity Futures Exchanges, commodity futures markets, commodity futures pool operators and commodity futures pool operator’s representatives; and for this purpose this Act shall apply with such modifications as may be prescribed.
(2) In subsection (1), “commodity futures contract”, “trading in futures contract”, “commodity futures broker”, “commodity futures broker’s representative”, “Commodity Futures Exchange”, “commodity futures market”, “commodity futures pool operator” and “commodity futures pool operator’s representative” have the meanings given to those expressions in the Commodity Trading Act (Cap. 48A) in force immediately before the commencement of this provision.”.