s 44 Power of Authority to make regulations
44.—(1) Without affecting section 341, the Authority may make regulations for the purposes of this Part, including regulations —(a) relating to the approval of approved exchanges and the recognition of recognised market operators; (b) relating to the requirements applicable to any person who establishes, operates or assists in establishing or operating an organised market, whether or not the person is approved as an approved exchange under section 9(1)(a) or recognised as a recognised market operator under section 9(1)(b) or (2); and (c) specifying measures to manage any risks assumed by an approved exchange or a recognised market operator.[4/2017] (2) Regulations made under this section may provide —(a) that a contravention of any specified provision of the regulations made under this section shall be an offence; and (b) for a penalty not exceeding a fine of $150,000 or imprisonment for a term not exceeding 12 months or both for each offence and, in the case of a continuing offence, a further penalty not exceeding a fine of 10% of the maximum fine prescribed for that offence for every day or part of a day during which the offence continues after conviction.[4/2017]