Regulations
63.—(1)  The Board may, with the approval of the Minister, make regulations for carrying out the purposes and provisions of this Act and for the due administration thereof.
(2)  Without prejudice to the generality of subsection (1), the Board may, with the approval of the Minister, make regulations for or with respect to —
(a)the activities of, and standards to be maintained by, commodity brokers, commodity futures brokers, commodity trading advisers, commodity futures trading advisers, commodity pool operators and commodity futures pool operators including the manner, method and place of soliciting business by commodity brokers, commodity futures brokers, commodity trading advisers, commodity futures trading advisers, commodity pool operators and commodity futures pool operators and the conduct of such solicitation;
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(b)prescribing the conditions for the conduct of business on a commodity market or Commodity Futures Exchange;
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(c)providing for the content and distribution of written, printed or visual material and advertisements that may be distributed or used by a person in respect of a commodity contractor commodity futures contract;
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(d)prescribing the form and content of a confirmation statement of commodity contracts or commodity futures contracts entered into on behalf of customers by a commodity broker or commodity futures broker;
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(e)prescribing the particulars to be recorded in, or in respect of, accounts kept by commodity trading advisers, commodity futures trading advisers, commodity pool operators and commodity futures pool operators under this Act;
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(f)the design, determination and utilisation by the Board of forms for the purposes of this Act;
(g)prescribing fees to be paid in respect of any matter or thing required for the purposes of this Act; and
(h)all matters or things which by this Act are required or permitted to be prescribed or which are necessary or expedient to be prescribed to give effect to this Act.
(3)  Such regulations may provide that a contravention of specified provisions thereof shall be an offence and may provide penalties not exceeding a fine of $5,000 or imprisonment for a term not exceeding 12 months or both.
(4)  Any regulations made under this Act may provide that, subject to any terms and conditions prescribed, all or any of the provisions of this Act —
(a)shall not have effect in relation to any specified person or to any person who is a member of a specified class of persons —
(i)who is, or may be, a commodity broker, commodity futures broker, or commodity trading adviser, commodity futures trading adviser, commodity pool operator, commodity pool operator or commodity futures pool operator by reason only of his doing anything which is merely incidental to another business;
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(ii)who does not trade in commodity contracts or commodity futures contracts for or on behalf of any other person; or
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(iii)who is a commodity broker, commodity futures broker or commodity trading adviser, commodity futures trading adviser, commodity pool operator or commodity futures pool operator by reason only of the entering into by him of any specified transaction or class of transactions;
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(b)shall not have effect in relation to the representative of any person referred to in paragraph (a); or
(c)shall have effect in relation to any person referred to in paragraph (a) or (b) to such extent as is prescribed.
(5)  The Minister may by order published in the Gazette amend or repeal any written law which appears to him to be unnecessary having regard to the provisions of this Act or to be inconsistent with any provision of this Act.