(1) A person shall not establish or operate, or assist in the operation of, a share registry business that is not licensed for such purpose by the Commission.
(2) Subject to the provisions of this Part, the Commission may license a company to operate a share registry business where it is satisfied that it is appropriate—
(a) in the interests of the investing public; and
(b) for the proper regulation of share registry services.
(3) A person who contravenes subsection (1) commits an offence.