Power of Board to approve commodity marketor a Commodity Futures Exchange
5.—(1)  A body corporate may apply to the Board for approval as a commodity market or a Commodity Futures Exchange in such form and manner as may be prescribed and the body corporate shall, in connection with that application, provide such information as the Board may require.
[22/2001 wef 27/06/2001]
(2)  The Board may, in writing, approve a body corporate as a commodity market or a Commodity Futures Exchange if it is satisfied that —
(a)the business rules of the body corporate make satisfactory provision for the matters referred to in section 6;
(b)the interests of the public will be served by granting the application.
[22/2001 wef 27/06/2001]
(3)  The Board shall not refuse to approve a body corporate as a commodity market or a Commodity Futures Exchange under this section without giving the applicant an opportunity of being heard.
[22/2001 wef 27/06/2001]