Securities and Futures Act 2001 · 2020 Revised Edition · Part 2 · Organised Markets
13. Cancellation of approval or recognition
Feedback & supportLast amended by an amending law of 2017.
An approved exchange or a recognised market operator that intends to cease operating its organised market or, where it operates more than one organised market, all of its organised markets, may apply to the Authority to cancel its approval as an approved exchange or recognition as a recognised market operator, as the case may be.
approved exchange
“approved exchange” means a corporation that is approved by the Authority under section 9(1)(a) as an approved exchange;
An application under subsection (1) must be made in such form and manner, and not later than such time, as the Authority may specify.
The Authority may cancel the approval of an approved exchange, or the recognition of a recognised market operator, on the application mentioned in subsection (1) if the Authority is satisfied that —
recognised market operator
“recognised market operator” means a corporation that is recognised by the Authority under section 9(1)(b) or (2) as a recognised market operator;
the approved exchange or recognised market operator mentioned in subsection (1) has ceased operating its organised market or all of its organised markets, as the case may be; and
the cancellation of the approval or recognition (as the case may be) will not detract from the objectives specified in section 5.