Section 4

the business rules of the body corporate make satisfactory provision —

for the exclusion from membership of persons who are not of good character and high business integrity;

for the expulsion, suspension or disciplining of members for conduct inconsistent with just and equitable principles in the transaction of business, or for a contravention of the business rules of the proposed Futures Exchange;

with respect to the terms and conditions under which futures contracts may be made in the futures market of the proposed Futures Exchange, or with respect to the classes of futures contracts that may be made by members;

with respect to the clearing and other arrangements made and the financial condition of the proposed Futures Exchange, its clearing house and its members are such as to provide reasonable assurance that all obligations arising out of futures contracts entered into on that Futures Exchange will be met;

that floor trading practices are fair and properly supervised;

that adequate measures have been taken to prevent manipulation and excessive speculation;

that adequate provision has been made to record and publish details of trading;

with respect to the establishment of a Compensation Fund, or any other scheme or system accepted by the Authority, which would compensate customers who suffer pecuniary loss through the defalcation of a member, or any of its directors or employees, in respect of any money or other property that was entrusted to or received by a member, or a director or employee, for or on behalf of any person or by reason that the member was trustee of the money or other property; and

generally for carrying on the business of the proposed Futures Exchange with due regard to the interests and protection of the public; and

the interests of the public will be served by approving the application.