Clause 314 — Securities and Futures Bill

(1)

Except with the written approval of the Authority, no person, other than a securities exchange, shall —

(a)

take or use, or have attached to or exhibited at any place, the title or description “securities exchange”, “stock exchange” or “derivatives exchange” in any language; or

(b)

take or use, or have attached to or exhibited at any place, any title or description which resembles the titles or descriptions specified in paragraph (a) or so closely resembles such titles or descriptions as to be calculated to deceive.

(2)

Except with the written approval of the Authority, no person, other than a futures exchange, shall —

(a)

take or use, or have attached to or exhibited at any place, the title or description “futures exchange” or “derivatives exchange” in any language; or

(b)

take or use, or have attached to or exhibited at any place, any title or description which resembles the titles or descriptions specified in paragraph (a) or so closely resembles such titles or descriptions as to be calculated to deceive.

(3)

Except with the written approval of the Authority, no person, other than a clearing house, shall —

(a)

take or use, or have attached to or exhibited at any place, the title or description “clearing house” in any language; or

(b)

take or use, or have attached to or exhibited at any place, any title or description which resembles the titles or descriptions specified in paragraph (a) or so closely resembles such titles or descriptions as to be calculated to deceive.

(4)

Any person who contravenes this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000 and, in the case of a continuing offence, to a further fine of $2,000 for every day or part thereof during which the offence continues after conviction.