29. Effect of cancellation of the licence of an exchange

Any cancellation of a licence or the issuance of a directive under subsection (1) of section 28 shall not operate so as to –

avoid or affect any agreement, transaction or arrangement entered into on the securities market operated by the exchange, whether the agreement, transaction or arrangement was entered into before or, where subsection (4) of section 28 applies, after the cancellation of the licence or the issuance of the directive under section 28; or

affect any right, obligation or liability arising under such agreement, transaction or arrangement.