Section 15

No person shall establish or maintain or assist in establishing or maintaining or hold himself out as providing or maintaining a stock market that is neither a stock market of a securities exchange nor an exempt stock market.

The Minister may, by notice in writing, declare that a specified stock market, or a stock market included in a specified class of stock markets, is, subject to any specified conditions, an exempt stock market for the purposes of this Act.

Without limiting the matters to which the Minister may have regard in considering whether to vary or revoke a declaration in force under subsection (2), the Minister may, in so considering, have regard to a breach of a condition specified in the declaration.

Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 and in the case of a second or subsequent conviction to a further fine not exceeding $30,000.