Clause 113

by deleting the words “or renewal of licences by persons holding a capital markets services licence to carry on business in any regulated activity and their representatives” in subsection (2)(c);

by inserting, immediately after paragraph (l) of subsection (2), the following paragraph:“(la)the maintenance by the holder of a capital markets services licence, and a representative of such a holder, of registers of their interests in securities and their duties relating to the registers, and matters relating thereto;”; and

by inserting, immediately after subsection (3), the following subsections:“(4) Where a person is charged with an offence for contravening a regulation made under subsection (2)(la), it shall be a defence for the person to prove —

that his contravention was due to his not being aware of a fact or occurrence, the existence of which was necessary to constitute the offence; and

that —

he was not so aware on the date of the summons issued for the charge; or

he became so aware before the date of the summons and complied with the regulation within 14 days after becoming so aware.(5) For the purposes of subsection (4), a person shall, in the absence of proof to the contrary, be conclusively presumed to have been aware of a fact or occurrence at a particular time which an employee or agent of the person, being an employee or agent having duties or acting in relation to his employer’s or principal’s interest or interests in the securities concerned, was aware of at that time.”.