| (1) | A person may apply to the registrar for an exchange licence in respect of one or more types of securities referred to in the definition of "securities" in section 1. |
| (2) | Despite section 30 of the Companies Act an association consisting of 10 or more persons may apply for an exchange licence. |
| (3) | An application for an exchange licence must— |
| (b) | show that the applicant complies with the requirements listed in section 9; |
| (ii) | a copy of the proposed listing requirements that must comply with section 12; |
(iii)the founding documents of the applicant;
| (iv) | such information in respect of members of the controlling body of the applicant as may be prescribed by the registrar; |
| (v) | application fee prescribed by the Minister; |
| (d) | be supplemented by any additional information that the registrar may reasonably require. |
| (4) | The registrar must give notice of an application for an exchange licence in two national newspapers at the expense of the applicant. The notice must state— |
| (a) | the name of the applicant; |
| (b) | where the proposed exchange rules may be inspected by members of the public; and |
| (c) | the period within which objections to the application may be lodged with the registrar. |
