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In forceAmended2020 Revised Edition
Contents

Part 2 · Organised Markets

46AAD. Duration of control

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Amended

Last amended by an amending law of 2017.

(1)

The Authority must cease control of the relevant business of an approved exchange or a recognised market operator if the Authority is satisfied that —

(a)

the reasons for the Authority’s assumption of control have ceased to exist; or

(b)

the Authority’s assumption of control is no longer necessary in the interests of the public or the section of the public mentioned in section 46AAB(1)(c)(i), or for the protection of investors.

(2)

A statutory manager is treated to have assumed control of the relevant business of an approved exchange or a recognised market operator on the date of appointment as a statutory manager.

(3)

The appointment of a statutory manager in relation to the relevant business of an approved exchange or a recognised market operator may be revoked by the Authority at any time —

(a)

if the Authority is satisfied that —

(i)

the reasons for the appointment have ceased to exist; or

(ii)

the appointment is no longer necessary in the interests of the public or the section of the public mentioned in section 46AAB(1)(c)(i), or for the protection of investors; or

(b)

on any other ground,and upon such revocation, the statutory manager must cease control of the relevant business of the approved exchange or recognised market operator, as the case may be.

(4)

The Authority must, as soon as practicable, publish in the Gazette the date, and such other particulars as the Authority thinks fit, of —

(a)

the Authority’s assumption of control of the relevant business of an approved exchange or a recognised market operator;

(b)

the cessation of the Authority’s control of the relevant business of an approved exchange or a recognised market operator;

(c)

the appointment of a statutory manager in relation to the relevant business of an approved exchange or a recognised market operator; and

(d)

the revocation of a statutory manager’s appointment in relation to the relevant business of an approved exchange or a recognised market operator.

Report

Part 2A

Trade Repositories

Part 3

Clearing Facilities

Part 3A

Approved Holding Companies

Part 4

Holders of Capital Markets Services Licence and Representatives

Part 5

Books, Customer Assets and Audit

Part 6

Conduct of Business

Part 6A

Reporting of Derivatives Contracts

Part 6B

Clearing of Derivatives Contracts

Part 6C

Trading of Derivatives Contracts

Part 7

Disclosure of Interests

Part 7A

Short Selling

Part 8

Securities Industry Council and Take‑Over Offers

Part 9

Supervision and Investigation

Part 10

Assistance to Foreign Regulatory Authorities

Part 11

Investor Compensation Scheme

Part 12

Market Conduct

Part 13

Offers of Investments

Part 13A

Modification of Act for Purposes of Dual Listing Boards

Part 14

Appeals

Part 15

Miscellaneous

Schedules