Singapore legislation

Clause 39

of Securities and Futures Bill

Clause 39

Continuing obligations of recognised trading system provider

(1)

A recognised trading system provider shall continue to satisfy the conditions or restrictions as are required for a person to be recognised as a recognised trading system provider, and in particular, the conditions or restrictions specified in section 36(4) and (6) and any regulations made under section 7.

(2)

A recognised trading system provider which contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part thereof during which the offence continues after conviction.