Section 29 Investments and Securities Act 2025

Section 29 of the Investments and Securities Act 2025 is about Appointment and removal of chief executive and principal officers of a securities exchange. It is under Part V (Registration and Regulation of Securities Exchanges, Financial Market Infrastructures and other Self Regulatory Organisations) of the Act. It provides as follows:

(1) The appointment and removal of the chief executive and other principal officers of a securities exchange shall be subject to the prior approval of the Commission in writing.

(2) The Commission may suspend or remove the chief executive or a principal officer of a securities exchange, if it is satisfied that such officer has contravened, failed or refused to comply with the —

(a) provisions of this Act or any regulations made under it;
(b) rules of the securities exchange; and
(c) directives of the Commission:

Provided that the chief executive or such principal officer, shall be given an opportunity to be heard before the suspension or removal from office by the Commission.