Clause 17

by deleting the word “approval” in subsection (3) and substituting the word “recognition”; and

by deleting subsection (4) and substituting the following subsection:“(4) The Authority may revoke a recognition granted to a recognised trading system provider under section 36 on any ground referred to in subsection (1) on the basis of any of the following circumstances without giving the recognised trading system provider an opportunity to be heard:

the recognised trading system provider is in the course of being wound up or otherwise dissolved, whether in Singapore or elsewhere;

a receiver, a receiver and manager or an equivalent person has been appointed, whether in Singapore or elsewhere, in relation to or in respect of any property of the recognised trading system provider;

the recognised trading system provider has been convicted, whether in Singapore or elsewhere, of an offence involving fraud or dishonesty or the conviction for which involved a finding that it had acted fraudulently or dishonestly.”.