s 4 Establishment of commodities markets
4.—(1) No person may establish or maintain, assist in establishing or maintaining or hold the person out as providing or maintaining any commodity market unless the commodity market has been approved by the Board under section 5(2). (2) As from 8 October 2018, subsection (1) ceases to apply in relation to any commodity market —(a) that is established on or after that date; or (b) that was approved under subsection (1) before that date, to the extent that it relates to commodity forward contracts.[4/2017] (3) A person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $30,000 or to imprisonment for a term not exceeding 3 years or to both.