Section 29: Conditions for registration. No 1 of 1990

(1) Every securities exchange or capital trade point shall be a body corporate incorporated under the Companies and Allied Matters Act.
(2) The Commission may register a body corporate as a securities exchange or capital trade point if it is satisfied that the rules of the body corporate make satisfactory provisions:
(a) for the exclusion from its membership persons who are not of good character and who do not possess a high degree of business integrity;
(b) for the expulsion, suspension or discipline of members for conduct inconsistent with just and equitable principles in the transaction of securities business or for contravention of or failure to comply with the rules of the securities exchange or capital trade point or the provisions of this Act;
(c) with respect to the conditions under which securities may be listed for trading on that particular securities exchange or capital trade point;
(d) with respect to the conditions governing dealings in securities by the members;
(e) with respect to the class or classes of securities which may be dealt in by members; and
(f) with respect to a fair representation of persons in the selection of members of the Board of the securities exchange or capital trade point and the administration of its affairs and provided that listed companies and investors shall each be represented by one or more members on its board.
(3) The Commission, in granting approval to register a securities exchange or capital trade point under this section, shall ensure that the interest of the public will be served by the grant of the approval.
(4) The Commission shall issue a certificate of registration to a body corporate registered pursuant to this section.