On 21/05/2013,
you requested for the version in force on 21/05/2013
incorporating all amendments published on or before 21/05/2013.
The closest version currently available is that of 01/04/2006.
17.
—(1) An approved exchange shall, as soon as practicable after the occurrence of any of the following circumstances, notify the Authority of the circumstance:
(a)
any material change to the information provided by the approved exchange in its application under section 7(1) or 11(1);
(b)
the carrying on of any business by the approved exchange other than —
(i)
the business of operating a market;
(ii)
a business incidental to operating a market; or
(iii)
such business or class of businesses as the Authority may prescribe;
(c)
the acquisition by the approved exchange of a substantial shareholding in a corporation which does not carry on —
(i)
the business of operating a market;
(ii)
a business incidental to operating a market; or
(iii)
such business or class of businesses as the Authority may prescribe;
(d)
the approved exchange becoming aware of a financial irregularity or other matter which in its opinion —
(i)
may affect its ability to discharge its financial obligations; or
(ii)
may affect the ability of a member of the approved exchange to meet its financial obligations to the approved exchange;
(e)
the approved exchange reprimanding, fining, suspending, expelling or otherwise taking disciplinary action against a member of the approved exchange;
(f)
any other matter that the Authority may prescribe by regulations or specify by notice in writing to the approved exchange.
[1/2005]
(2) Without prejudice to the generality of section 46(1), the Authority may, at any time after receiving a notification referred to in subsection (1), issue directions to the approved exchange —
(a)
where the notification relates to a matter referred to in subsection (1)(b) —
(i)
to cease carrying on the first-mentioned business referred to in subsection (1)(b); or
(ii)
to carry on the first-mentioned business referred to in subsection (1)(b) subject to such conditions or restrictions as the Authority may impose, if the Authority is of the opinion that this is necessary for any purpose referred to in section 46(1); or
(b)
where the notification relates to a matter referred to in subsection (1)(c) —
(i)
to dispose of the shareholding referred to in subsection (1)(c); or
(ii)
to exercise its rights relating to such shareholding subject to such conditions or restrictions as the Authority may impose, if the Authority is of the opinion that this is necessary for any purpose referred to in section 46(1),
and the approved exchange shall comply with such directions.
[1/2005]