(1) Subject to the approval of the Commission, the holder of a securities exchange licence shall make rules for the proper and efficient regulation, operation, management and control of the securities exchange.
(2) Without limiting the general effect of subsection (1), the holder of a securities exchange licence shall make rules—
(a) in respect of applications for listing and the requirements for listing;
(b) regarding agreements to be entered into between the securities exchange and other persons for listing securities and enforcing those agreements;
(c) regarding the cancellation and withdrawal of the listing of securities and the suspension of dealings in them;
(d) obliging a person to observe specified standards of conduct or to perform, or refrain from performing, specified acts reasonably imposed for the listing or continued listing of securities; and
(e) regarding the penalties and sanctions which the holder of the securities exchange licence may impose for a breach of the rules of the securities exchange.