On 19/05/2013,
you requested for the version in force on 19/05/2013
incorporating all amendments published on or before 19/05/2013.
The closest version currently available is that of 18/04/2013.
14.
—(1) A corporation that wishes to establish or operate a market may apply to the Authority, in such form and manner as the Authority may prescribe, to be exempted from the requirement under section 6(1) to be an approved exchange or a recognised market operator.
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(2) The Authority may exempt a corporation referred to in subsection (1) from the requirement under section 6(1) if, in the opinion of the Authority, the objectives specified in section 5 can be achieved without regulating the corporation as an approved exchange or a recognised market operator.
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(3) An application made under subsection (1) shall be accompanied by a non-refundable prescribed application fee, which shall be paid in the manner specified by the Authority.
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(4) The Authority may require an applicant to furnish it with such information or documents as the Authority considers necessary in relation to the application.
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(5) The Authority may, by notice in writing, impose on a corporation exempted under subsection (2) such conditions or restrictions relating to the exemption as the Authority may think fit, including conditions or restrictions relating to —
(a)
the activities that the corporation may undertake;
(b)
the securities or futures contracts that may be traded on any market established or operated by the corporation; and
(c)
the nature of the investors or participants who may use, participate or invest in the securities or futures contracts traded on any market established or operated by the corporation.
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(6) The Authority may, at any time, by notice in writing to a corporation exempted under subsection (2), vary any condition or restriction referred to in subsection (5) or impose such further condition or restriction relating to the exemption as the Authority may think fit.
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(7) The Authority shall give notice in the Gazette of any corporation exempted under subsection (2), and such notice may include the conditions or restrictions imposed by the Authority on the corporation under subsection (5)(b) in relation to the securities or futures contracts that may be traded on any market established or operated by the corporation.
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(8) The Authority may —
(a)
exempt any corporation operating any market from the requirement under section 6(1) to be an approved exchange or a recognised market operator;
(b)
by order published in the Gazette, declare that corporation to be an exempt market operator; and
(c)
by notice in writing to that corporation, impose such conditions or restrictions relating to the exemption as the Authority may think fit.
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(9) The Authority may —
(a)
exempt corporations operating any class of markets from the requirement under section 6(1) to be approved exchanges or recognised market operators, subject to such conditions or restrictions as the Authority may think fit to impose by regulations; and
(b)
by order published in the Gazette, declare such corporations to be exempt market operators.
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(10) An exempt market operator shall comply with all conditions or restrictions imposed on it under subsection (5), (6) or (8), as the case may be.
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(11) Any corporation which contravenes subsection (10) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $150,000 and, in the case of a continuing offence, to a further fine not exceeding $15,000 for every day or part thereof during which the offence continues after conviction.
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