Revised Laws of Saint Lucia (2021)

11.   Suspension and revocation of securities exchange licence

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    (1)   The Commission may suspend a securities exchange licence granted under section 10 if the company—

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      (a)     temporarily ceases to operate the securities exchange;

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      (b)     goes into receivership;

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      (c)     contravenes a provision of this Act;

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      (d)     operates in a manner detrimental to the public interest;

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      (e)     fails to provide the Commission with information lawfully required;

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      (f)     fails to comply with a lawful direction of the Commission; or

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      (g)     fails to pay its annual licence fee as prescribed on or before the anniversary of the day of the grant of its licence.

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    (2)   The Commission may revoke a securities exchange licence granted under section 10 if the company—

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      (a)     ceases to operate the securities exchange;

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      (b)     is being wound up, compounds or compromises with its creditors;

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      (c)     contravenes a provision of this Act;

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      (d)     is operating in a manner detrimental to the public interest;

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      (e)     fails to continue to comply with the conditions specified in section 10 (2);

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      (f)     fails to pay its annual licence fee as prescribed on or before the anniversary of the day of the grant of its licence; or

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      (g)     requests the Commission to do so.

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    (3)   The Commission shall not revoke or suspend a securities exchange licence without first giving the holder of the licence an opportunity of being heard.