20. Approval of chairperson, chief executive officer, director and key persons

For the purposes of section 28(4) of the Act, the Authority may, in determining whether to grant its approval under section 28(1) or (2) of the Act, have regard to the following criteria:

whether the person is fit and proper to be appointed as chairperson, chief executive officer or director (as the case may be) of the approved exchange;

whether the appointment of the person would be consistent with any applicable written law relating to —

the qualifications for the position; or

the requirements for the composition of the board of directors or any committee of the approved exchange;

whether it would be contrary to the interests of the public to grant the approval.

The Authority may require an approved exchange that applies for approval under section 28(1) or (2) of the Act to provide the Authority with further information or documents for the purposes of assessing the application, and the approved exchange must comply with that requirement.

For the purposes of section 28(4) of the Act, the Authority may, in determining whether to grant its approval under section 28(1) or (2) of the Act, have regard to the following criteria:

whether the person is fit and proper to be appointed as chairperson, chief executive officer or director (as the case may be) of the approved exchange;

whether the appointment of the person would be consistent with any applicable written law relating to —

the qualifications for the position; or

the requirements for the composition of the board of directors or any committee of the approved exchange;

whether it would be contrary to the interests of the public to grant the approval.

The Authority may require an approved exchange that applies for approval under section 28(1) or (2) of the Act to provide the Authority with further information or documents for the purposes of assessing the application, and the approved exchange must comply with that requirement.