Section 29
Substitution of section 99
of Capital Markets and Services (Amendment) Act 2011
Amendment ActIn forceProvision 29 of 75
Section 29
The principal Act is amended by substituting for section 99
the following section:
“Trading in standardized derivatives on own account
Quoted provision
Section 99
(1)
A holder of a Capital Markets Services Licence who carries on the business of dealing in derivatives shall not, as principal, trade in any standardized derivative with a person
Capital Markets and Services (Amendment)
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who is not such a holder unless he first informs the person in writing that he is acting in the transaction as principal and not as agent.