8.—(1) No person may establish, maintain or provide or assist in establishing, maintaining or providing, or hold the person 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.
(2) As from 8 October 2018, 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.
[4/2017]
(3) A 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.