Establishment of clearing house
8.—(1)  No person shall establish, maintain or provide or assist in establishing, maintaining or providing, or hold himself out as maintaining or providing a clearing house for a commodity market unless the person is a body corporate approved as a clearing house under section 9.
[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 clearing house —
(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.