Commodity Trading Act 1992 · 2020 Revised Edition · Part 2 · Commodity Market and Clearing House
7. Revocation of approval
Feedback & supportThe Board may revoke any approval granted under section 5 if —
Board
“Board” means the Enterprise Singapore Board established by section 3 of the Enterprise Singapore Board Act 2018;
the body corporate ceases to operate as a commodity market;
the body corporate is being wound up;
the body corporate is operating in a manner detrimental to the public interest; or
any information provided to the Board under section 5(1) was false or misleading in a material particular.
For the purposes of subsection (1)(a), a body corporate is deemed to have ceased to operate as a commodity market if it has ceased to operate for more than 30 days unless it has obtained the approval of the Board to do so, or unless it has ceased to operate by virtue of any direction issued by the Board under section 34(1)(a).
commodity market
“commodity market” means —(a)a market, whether in Singapore or elsewhere, at which commodity contracts are regularly made; or(b)an electronic system, whether operating in Singapore or elsewhere, through which trading in commodity contracts is carried out, but excludes an electronic facility which merely provides price or other information relating to commodity contracts (whether that facility is part of or carried on in conjunction with the provision of any other information not related to commodity contracts) and which does not permit users of the facility to channel orders for, execute transactions in, or make markets in, commodity contracts;