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AMI 5.6.5

(1) An Authorised Market Institution must, subject to Rule 5.6.6, before making any amendment to its Business Rules, undertake public consultation on the proposed amendment in accordance with the requirements in this Rule.
(2) For the purposes of (1), an Authorised Market Institution must:
(a) publish a consultation paper setting out:
(i) the text of both the proposed amendment and the Business Rules that are to be amended;
(ii) the reasons for proposing the amendment; and
(iii) a reasonable consultation period, which must not be less than 30 days from the date of publication, within which Members and other stakeholders may provide comments; and
(b) lodge with the DFSA the consultation paper referred to in (a) no later than the time at which it is released for public comment.
(3) The DFSA may, where it considers on reasonable grounds that it is appropriate to do so, require the Authorised Market Institution to extend its proposed period of public consultation specified in the consultation paper. An Authorised Market Institution must comply with such a requirement.
(4) An Authorised Market Institution must:
(a) facilitate, as appropriate, informal discussions on the proposed amendment with Members and other stakeholders including any appropriate representative bodies of such Persons;
(b) consider the impact the proposed amendment has on the interests of its Members and other stakeholders;
(c) have proper regard to any public comments received.
(5) Following public consultation, an Authorised Market Institution must, before the date on which the proposed amendment comes into effect, lodge with the DFSA:
(a) a summary of any public comments received, and how any issues raised by those comments have been addressed; and
(b) any changes made to the initial proposals as a result of the public comments, and if no changes have been made, a statement to that effect.
Derived from RM118/2013 [VER15/07-13]