Clause 9

by deleting the words “designated clearing house,” in subsection (1) and substituting the words “licensed trade repository, approved clearing house”; and

by deleting subsections (3) and (4) and substituting the following subsections:“(3) Without prejudice to section 337(1), the Authority may, by regulations made under section 81ZK, exempt any corporation or class of corporations from subsection (1), subject to such conditions or restrictions as the Authority may prescribe in those regulations.(4) Without prejudice to section 337(3) and (4), the Authority may, by notice in writing, exempt any corporation from subsection (1), subject to such conditions or restrictions as the Authority may specify by notice in writing, if the Authority is satisfied that the exemption will not detract from the objectives specified in section 81T.(5) It shall not be necessary to publish any exemption granted under subsection (4) in the Gazette.(6) The Authority may, at any time, by notice in writing —

add to the conditions and restrictions referred to in subsection (4); or

vary or revoke any condition or restriction referred to in that subsection.(7) Every corporation that is granted an exemption under subsection (3) shall satisfy every condition or restriction imposed on it under that subsection.(8) Every corporation that is granted an exemption under subsection (4) shall satisfy every condition or restriction imposed on it under that subsection or subsection (6).(9) Any corporation which contravenes subsection (7) or (8) 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.”.