Comparison View

Formal Consolidation |  2009 RevEd
Establishment of commodities markets
4.—(1)  No person shall establish or maintain or assist in establishing or maintaining or hold himself out as providing or maintaining any commodity market unless such commodity market has been approved by the Board under section 5(2).
[22/2001; 35/2007]
(2)  Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $30,000 or to imprisonment for a term not exceeding 3 years or to both.
Informal Consolidation | Amended Act 4 of 2017
Establishment of commodities markets
4.—(1)  No person shall establish or maintain or assist in establishing or maintaining or hold himself out as providing or maintaining any commodity market unless such commodity market has been approved by the Board under section 5(2).
[22/2001; 35/2007]
(1A)  As from the date of commencement of section 8 of the Securities and Futures (Amendment) Act 2017, subsection (1) ceases to apply in relation to any commodity market —
(a)that is established on or after that date; or
(b)that was approved under subsection (1) before that date, to the extent that it relates to commodity forward contracts.
[Act 4 of 2017 wef 08/10/2018]
(2)  Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $30,000 or to imprisonment for a term not exceeding 3 years or to both.