| (1) | The Authority may, after consideration of any objection received as a result of the notice referred to in section 7(4) and subject to any conditions which the Authority may consider appropriate, grant an exchange a licence to perform the functions referred to in section 10 if— |
| (a) | the applicant complies with the relevant requirements of this Act; and |
| (b) | the objects of this Act referred to in section 2 will be furthered by the granting of an exchange licence. |
| (2) | An exchange licence must specify the terms and conditions of the licence, the categories of securities that may be listed on that exchange, the registered office of the exchange in the Republic and the places where the exchange may be operated, and stipulate that the exchange may not be operated at any other place without the prior written approval of the Authority. |
| (3) | An exchange may at any time apply to the Authority for an amendment of the terms of its licence or the conditions subject to which the licence was granted. |
| (a) | The Authority must publish a notice of an application for an amendment of the terms of an exchange licence or the conditions subject to which the licence was granted in two national newspapers, at the expense of the applicant, and on the Authority's website. |
[Section 9(4) substituted by section 290, item 11 of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]
| (b) | The notice must state— |
| (i) | the name of the applicant; |
| (ii) | the nature of the proposed amendments; and |
| (iii) | the period within which objections to the application may be lodged with the Authority. |
