30. Closure of the exchange in an emergency

The Commission may, after consultation with the exchange, direct the exchange to close its securities market for a period not exceeding five business days if the

The Commission may extend the closure of the securities market under subsection (1) for any further periods, each not exceeding five business days at a time.

The Commission shall specify the grounds for the closure in the directive given under subsection (1) and the grounds for any extension of closure under subsection (2).

The Commission shall, as soon as may be practicable, give a copy of the directive under subsection (1) or extension under subsection (2) to the exchange and direct the exchange to do all that it is reasonably capable of doing to give effect to the directive under subsection (1) or extension under subsection (2) while the directive or extension remains in force.

Where the Commission exercises its power under this section it shall notify the Minister setting out the reasons for the exercise of the power under this section.

In this section –