Securities Services Act, 2004 (Act No. 36 of 2004)Chapter III : ExchangesLicensing of exchange10. Licensing of exchange |
| (1) | The registrar may, after consideration of any objection received as a result of the notice referred to in section 8(4) and subject to any conditions which the registrar may consider appropriate, grant an exchange licence 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) | The exchange licence must specify the services that the exchange may provide, the main 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 registrar. |
| (3) | An exchange may at any time apply to the registrar for an amendment of the terms of its licence and the conditions subject to which the licence was granted. |
(4)
| (a) | The registrar must give notice of an application for an amendment of the terms of an exchange licence and the conditions subject to which the licence was granted in two national newspapers at the expense of the applicant. |
| (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 registrar. |