Revised Laws of Saint Lucia (2021)

25.   Grant of clearing agency licence

On receipt of an application duly made in accordance with section 24 the Commission may grant a licence to operate a clearing agency if it is satisfied that—

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    (a)     it is appropriate to do so in the public interest;

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    (b)     the applicant has financial resources sufficient for the proper performance of its functions;

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    (c)     the applicant has adequate arrangements and resources for the effective monitoring and enforcement of compliance with its rules;

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    (d)     the applicant is able to provide clearing services which would enable a securities exchange to ensure the performance of transactions effected on the market; and the default rules of the applicant satisfy the requirements of section 26.