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  • MAE-1.4 MAE-1.4 Exemption of Exchanges and Market Operators

    • MAE-1.4.1

      The CBB may:

      (a) Exempt any person operating any market from the requirement under MAE-1.1 to be a licensed exchange or a licensed market operator;
      (b) Declare that person to be an exempt market operator, by order published in the Gazette; and
      (c) Impose such conditions or restrictions relating to the exemption as the CBB may deem fit, by notice in writing to that person.
      Amended: April 2016

    • MAE-1.4.2

      An application to be exempted from the requirement under MAE-1.2 to be a licensed exchange or a licensed market operator shall be made in Form 4.

    • MAE-1.4.3

      The CBB may exempt an applicant referred to in MAE-1.4.1 from the requirement under MAE-1.2 if, in the opinion of the CBB, the objectives specified in MAE-1.2.5 can be achieved without regulating the applicant as a licensed exchange or a licensed market operator.

    • MAE-1.4.4

      An application made under MAE-1.4.1 shall be accompanied by a non-refundable prescribed application fee of BD100, which shall be paid in the manner specified by the CBB.

      Amended: April 2016

    • MAE-1.4.5

      The CBB may require an applicant to furnish it with such information or document as the CBB considers necessary in relation to the application.

    • MAE-1.4.6

      The CBB may, by notice in writing, impose on a person exempted under MAE-1.4.3 such conditions or restrictions relating to the exemption as the CBB may deem fit, including conditions or restrictions relating to:

      (a) The activities that the person may undertake;
      (b) The securities or futures contracts that may be traded on any market established or operated by the person; and
      (c) The nature of the investors or participants who may use, participate or invest in the securities or futures contracts traded on any market established or operated by the person.
      Amended: April 2016

    • MAE-1.4.7

      The CBB may, at any time, by notice in writing to a person exempted under MAE-1.4.3, vary any condition or restriction referred to in MAE-1.4.6 or impose such further condition or restriction relating to the exemption as the CBB may think fit.

    • MAE-1.4.8

      The CBB shall give notice in the Gazette of any person exempted under MAE-1.4.3, and such notice may include the conditions or restrictions imposed by the CBB on the person under MAE-1.4.6 in relation to the securities or futures contracts that may be traded on any market established or operated by the person.

      Amended: April 2016

    • MAE-1.4.9

      An exempt market operator shall comply with all conditions or restrictions imposed on it under MAE-1.4.6, 1.4.7, or 1.4.8, as the case may be.