Section 36Part 1 — Securities Investment Business Act
Duty of Exchange and Authority in relation to broker members
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Where, in relation to a broker member of the Exchange, the Exchange becomes aware of a specified matter, the Exchange shall, as soon as practicable, submit a written report to the Authority thereon providing full details of the specified matter and send a copy of the report to the broker member.
In this section — “ specified matter ” means —
a matter which in the opinion of the Exchange has adversely affected or is likely to adversely affect the ability of the broker to meet that person’s obligations under the rules of the Exchange;
any sustained or material contravention by the broker of the rules of the Exchange or of this Law or any material breach of a condition of the broker member ’ s licence;
revocation by the Exchange of the broker ’ s membership; or
any other material matter that the Exchange considers relevant to the Authority ’ s discharge of its functions under this Law.
The Authority shall similarly keep the Exchange informed of any material matters relating to the standing with the Authority of the Exchange ’ s broker members who are licensees of the Authority.
A person who, not being a broker member of the Exchange, passes themselves off as such commits an offence and is liable on summary conviction to a fine of fifty thousand dollars. 37 Part VI - General