Cap. 590 Art. 46Temporary suspension of trading on a VFA exchange.

(1) Without prejudice to the provisions of article 45, the competent authority shall have the power to suspend temporarily the trading in a virtual financial asset on any VFA exchange, if in its opinion, the orderly transaction of business is being prevented, or is likely to be prevented.

(2) The Minister may recommend to the competent authority the temporary suspension of trading if he is of the opinion that the orderly transaction of business of a VFA exchange is being disrupted because of any occurrence which in the opinion of the Minister merits such closure.

(3) The competent authority may order that, for such time as it may determine, no trading of any kind may be transacted in one or more specified virtual financial assets if it has reason to believe that this would be in the interest of the VFA exchange concerned, the public or investors in general.

(4) No transaction may be executed at any time in the event of the temporary suspension of trading under this article. Any transaction so executed in contravention of this sub-article shall be invalid.

(5) This article shall also be applicable where a virtual financial asset is determined by the competent authority to be electronic money or a financial instrument in terms of article 13(2)(b).