Revised Laws of Saint Lucia (2021)

12.   Duties of holder of securities exchange licence

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    (1)   A holder of a securities exchange licence shall ensure, so far as is reasonably practicable, an orderly and fair market in the securities that are traded through its facilities.

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    (2)   In performing its duties under subsection (1), the holder of a securities exchange licence shall—

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      (a)     act in the interests of the investing public; and

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      (b)     ensure that such interests prevail where they conflict with any other interests the company is required to serve under any other law.

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    (3)   The holder of a securities exchange licence shall ensure that members comply with its rules, this Act and regulations made under this Act.

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    (4)   The holder of a securities exchange licence shall provide and maintain at all times to the satisfaction of the Commission—

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      (a)     adequate and properly equipped premises for the conduct of its business;

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      (b)     competent personnel for the conduct of its business;

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      (c)     automated or other systems with adequate capacity, facilities to meet emergencies and security arrangements.

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    (5)   The holder of a securities exchange licence shall notify the Commission immediately if it becomes aware—

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      (a)     that a member is unable to comply with any financial resources regulation made under section 76; or

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      (b)     of a financial irregularity or other matter which in the opinion of the holder of the securities exchange licence may indicate that the financial standing or integrity of a member is in question, or that a member may not be able to meet that member's legal obligations.