| (a) |
must provide an infrastructure for the trading of securities listed on that exchange; |
| (c) |
must supervise compliance by its authorised users with the exchange rules and exchange directives; |
| (d) |
must supervise compliance with this Act by its authorised users and issuers of securities listed on that exchange, report any non-compliance to the Authority and assist the Authority in enforcing this Act; |
| (f) |
must, as soon as it becomes aware, inform the Authority of any matter that it reasonably believes may give rise to, or increase systemic risk; |
[Section 10(2)(f) substituted by section 290, item 12(a) of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]
| (g) |
may issue exchange directives; |
| (h) |
may amend or suspend the exchange rules in terms of section 71, and may amend its listing requirements in terms of section 11(6)(a); |
| (i) |
must make provision for the clearing and settlement of transactions in listed securities effected through the exchange; |
| (ii) |
may appoint a clearing house or central counterparty icensed under Chapter V to clear or settle transactions or both clear and settle transactions on behalf of the exchange; |
[Section 10(2)(i)(ii) substituted by section 290, item 12(b) of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]
| (iii) |
must consult with an appointed associated clearing house when making or amending the exchange rules in accordance with which the associated clearing house will clear or settle transactions on behalf of the exchange; |
| (j) |
must, if it has not appointed a clearing house to clear transactions on behalf of the exchange,— |
| (i) |
establish and maintain an infrastructure for the clearing of transactions effected through the exchange; and |
| (ii) |
manage the clearing of transactions effected through the exchange, in relation to those transactions which the exchange rules determine will be cleared; |
| (k) |
must supervise compliance by issuers of securities listed on that exchange with that exchange’s listing requirements; |
| (l) |
must notify the Authority as soon as it commences an insolvency proceeding or an insolvency proceeding is commenced against it, or when it has received a notification regarding insolvency proceedings against authorised users; |
| (m) |
may do all other things that are necessary for, incidental or conducive to the proper operation of an exchange and that are not inconsistent with this Act. |
| (a) |
The Authority may assume responsibility for one or more of the regulatory or supervisory functions referred to in subsection (2) if the Authority considers it necessary in order to achieve the objects of this Act referred to in section 2. |
| (b) |
The Authority must, before assuming responsibility for a function as contemplated in paragraph (a)— |
| (i) |
inform the exchange of the Authority’s intention to assume responsibility; |
| (ii) |
give the exchange the reasons for the intended assumption; and |
| (iii) |
call upon the exchange to show cause within a period specified by the Authority why responsibility should not be assumed by the Authority. |
National Environmental Management Act, 1998 (107 of 1998)
