Singapore legislation
Clause 22
Clause 22
Effect of revocation or suspension of licence
(1)
A person whose licence is revoked under section 20 or revoked or suspended under section 21 shall, for the purpose of this Part, be deemed not to be licensed from the date that the Authority revokes or suspends the licence, as the case may be.
(2)
A revocation or suspension of a licence of a person shall not operate so as to —
avoid or affect any agreement, transaction or arrangement relating to the trading in futures contracts entered into by such person, whether the agreement, transaction or arrangement was entered into before or after the revocation or suspension of the licence; or
affect any right, obligation or liability arising under any such agreement, transaction or arrangement.