Singapore legislation
Clause 7
Clause 7
Power of Authority to make regulations
(1)
Without prejudice to section 341, the Authority may make regulations relating to the approval or recognition of and the requirements applicable to persons who establish or operate securities markets or futures markets.
(2)
Without prejudice to the generality of subsection (1), the Authority may make regulations for or with respect to —
the approval of a corporation as a securities exchange or futures exchange;
the recognition of an overseas securities exchange, an overseas futures exchange or a corporation as a recognised trading system provider;
the requirements applicable to a securities exchange, futures exchange, recognised trading system provider, person granted an exemption under section 5(3) or 6(3) or person operating an exempt market.
(3)
Without prejudice to the generality of subsection (1), regulations made under this section may prescribe requirements that apply to recognised trading system providers which would also apply to a person granted an exemption under section 5(3) or 6(3).
(4)
Regulations made under this section may provide that a contravention of specified provisions thereof shall be an offence and may provide penalties not exceeding a fine of $200,000.