Cap. 345 Art. 6Non-application or modification of Financial Market Rules.

(1) The competent authority may direct that any of the

Financial Market Rules issued under article 5 are not to apply in respect of any regulated market or are to apply to such regulated market with such modification as may be specified in the Financial

Market Rule, if it is satisfied that -

(a) compliance by the regulated market with the Financial Market Rules, or with the Financial Market Rules as unmodified, would be unduly burdensome or would not achieve the purpose for which the Financial Market Rules were made; and

(b) the non-application or modification of the Financial Market Rule as aforesaid would not result in undue risk to persons whose interests such Financial Market Rules are intended to protect.

(2) A Financial Market Rule issued by the competent authority under sub-article (1) may be made subject to such conditions as the competent authority may deem fit.