| Exemption for associated persons |
30.—(1) An employee of a bank or a merchant bank who is registered as an associated person of a Commodity Futures Exchange pursuant to the rules of that Exchange shall be exempted from the requirement to hold a futures broker’s representative licence in relation only to his performing the functions of or acting for a commodity futures broker, which is a related corporation of the bank, or merchant bank in the trading of commodity futures contracts.
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