1989 Ed.]
Commodities Trading
[CAP. 250
37
(a) the Commission; and (Amended 10 of 1989 s. 65)
(b)(c) (Repealed 10 of 1989 s. 65)
(d) in the case of an employee, the auditor by whom he is employed.
58. Exchange Company may impose additional obligations on members
Nothing in this Part shall prevent the Exchange Company or Commission from imposing on dealers any further obligations or requirements which either of them thinks necessary with respect to- (Amended 10 of 1989 s. 65)
(a) the audit of accounts;
(b) the information to be given in reports by auditors; or
(c) the keeping of accounts, books and records.
PART VI
TRADING PRACTICES
59. Fixing of trading and position limits
(1) The Commission may, by rule, establish and fix limits on the amount of trading which may be done, or positions which may be held, by any person under futures contracts in respect of a specified commodity on, or subject to the rules of, the relevant commodity market.
(2) Nothing in subsection (1) shall be construed as prohibiting the Commission from fixing different trading or position limits for different specified commodities, commodity markets or delivery months or from exempting certain transactions specified in the rule.
60. Offence to exceed limits
Where under section 59 the Commission has established any limits, no person shall—
(a) directly or indirectly, enter into a futures contract in respect of such specified commodity on, or subject to the rules of, the commodity market to which the rule applies, for any amount of such specified commodity during any one business day in excess of any trading limit fixed for one business day or other stated period by the Commission; or
(b) directly or indirectly hold or control a net long or net short position in such specified commodity under a futures contract on, or subject to the rules of, the relevant commodity market in excess of any position limit fixed by the Commission for or with respect to such specified commodity.
(Amended 61 of 1985 s. 14)
1989 Ed.]
Commodities Trading
[CAP. 250
37
(a) the Commission; and (Amended 10 of 1989 s. 65)
(b)(c) (Repealed 10 of 1989 s. 65)
(d) in the case of an employee, the auditor by whom he is employed.
58. Exchange Company may impose additional
obligations on members
Nothing in this Part shall prevent the Exchange Company or Commission from imposing on dealers any further obligations or requirements which either of them thinks necessary with respect to- (Amended 10 of 1989 s. 65)
(a) the audit of accounts;
(b) the information to be given in reports by auditors; or
(c) the keeping of accounts, books and records.
PART VI
TRADING PRACTICES
59. Fixing of trading and position limits
(1) The Commission may, by rule, establish and fix limits on the amount of trading which may be done, or positions which may be held, by any person under futures contracts in respect of a specified commodity on, or subject to the rules of, the relevant commodity market.
(2) Nothing in subsection (1) shall be construed as prohibiting the Commission from fixing different trading or position limits for different specified commodities, commodity markets or delivery months or from exempting certain transactions specified in the rule.
60. Offence to exceed limits
Where under section 59 the Commission has established any limits, no person shall—
(a) directly or indirectly, enter into a futures contract in respect of such specified commodity on, or subject to the rules of, the commodity market to which the rule applies, for any amount of such specified commodity during any one business day in excess of any trading limit fixed for one business day or other stated period by the Commission; or
(b) directly or indirectly hold or control a net long or net short position in such specified commodity under a futures contract on, or subject to the rules of, the relevant commodity market in excess of any position limit fixed by the Commission for or with respect to such specified commodity.
(Amended 61 of 1985 s. 14)
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