(1) The Commission may, after consulting the holder of a securities exchange licence, direct it to close its market for a period not exceeding 5 trading days.
(2) The Commission may give the direction under subsection (1) if it is of the opinion that the orderly transaction of business on the securities exchange is being, or is likely to be, prevented because—
(a) of an impending emergency or natural disaster or where such emergency or disaster has occurred in Saint Lucia; or
(b) there exists an economic or financial crisis, whether in Saint Lucia or elsewhere, or any other circumstance, which is likely to prevent orderly trading on the securities exchange.
(3) The Commission may, on consultation with Monetary Council, extend the direction for further periods not exceeding 10 trading days.