Financial Markets Control Amendment Act (No. 55 of 1995)

1st January 1995

To amend the Financial Markets Control Act, 1989, so as to amend a definition and insert a new definition; to make new provision for the management of investments; to improve the provisions with respect to the restriction on the use of a name or description implyinf a connection with a financial exchange; to amend the provisions relating to the issue or renewal of financial market licenses; to make new provision for the
delegation of functions by the executive committee of a financial exchange and for the listing of financial instruments; to amend and improve the provisions relating to the rules of a financial exchange; to make new provision relating to the separation of property and funds received from other persons by a clearing house and members of financial exchanges; to amend the provisions relating to the constitution of the board for hearing appeals; to make new provision with respect to the right of appeal against acts of an executive committee, and undesirable advertising or canvassing relating to financial instruments; to extend the provisions relating to inspections in regard to certain unlicensed or non-approved persons or businesses; to extend the powers of the Registrar of Financial Markets to attend certain meetings; to make new provision for the disclosure of certain information by financial exchanges; to extend the powers of courts to declare certain persons disqualified in regard to certain activities regulated by the said Act; to delete the provision for certain maximum fines; to extend the powers of the Minister of Finance to make regulations; and to provide for certain limitations of liabilities; and to make provision for incidental matters.