Section 33

carry on a business of trading in commodity futures contracts; or

hold himself out as carrying on such a business, unless such person is registered as a dealer under this Act.

No corporation that is a dealer shall carry on business as a dealer unless every director or employee who is accredited to the corporation is registered as a dealer under this Act.

No firm that is a dealer shall carry on business as a dealer unless every partner is registered as a dealer under this Act.

Subsection (1) shall not apply to a person who trades in commodity futures contracts only through a dealer registered under this Act.

Any person who knowingly contravenes this section commits an offence and is liable on conviction to a fine not exceeding fifty thousand ringgit and, in the case of a continuing offence, to a further fine of one thousand ringgit for each day during which the offence continues.

Any futures contract made by any person, whether as principal or agent, who is required to be registered under subsection (1) and who is not registered as so required, may be rescinded by any other party to the contract who, upon so doing, shall be entitled to recovery of any money or other thing he may have paid or delivered under the contract.