Financial Markets Control Act, 1989 (Act No. 55 of 1989)29. Undesirable Practices |
(1) If the Registrar is satisfied after an inspection in terms of section 26 that the interests of the public so require, he may —
| (a) | require the financial exchange, in accordance with the directions of the Registrar, to take steps for the voluntary winding-up of the exchange in terms of section 32; or |
| (b) | direct a financial exchange or a member thereof, or a recognised clearing house, or a person approved in terms of section 5, to take any other steps, or to refrain from performing or continuing any act, in order to terminate or obviate any undesirable practice or state of affairs brought to light by the inspection. |
[Paragraph (b) substituted by section 22(a) of Act 55 of 1995]
| (2) | A financial exchange or a member thereof, or a recognised clearing house, or a person approved in terms of section 5, shall upon receipt of a request in writing by the Registrar to that effect immediately discontinue the publication or the issue of any advertisement, brochure, prospectus or similar document relating to financial instruments specified in the request which is not a correct statement of fact or is objectionable, or effect such adjustments thereto as the Registrar may deem fit. |
[Subsection (2) substituted by section 22(b) of Act 55 of 1995]