Singapore legislation
Clause 45
Clause 45
Power of Authority to approve futures contracts
(1)
No recognised trading system provider shall permit the trading of any futures contract on a futures market established or operated by the recognised trading system provider without the prior approval of the Authority.
(2)
The Authority may grant approval for the trading of any futures contract on a futures market established or operated by a recognised trading system provider subject to such conditions or restrictions as the Authority may think fit.
(3)
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 $150,000 and, in the case of a continuing offence, to a further fine not exceeding $15,000 for every day or part thereof during which the offence continues after conviction.
(4)
A recognised trading system provider which contravenes any of the conditions or restrictions specified under this section 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.