Section 169

(1)

A revocation, suspension or expiration of a licence or the imposition of a restriction on a licence shall not operate so as to

(a}

make voidable or affect any agreement, transaction or arrangement relating to the regulated activities entered into by such person, whether the agreement, transaction or arrangement was entered into before or after the revocation, suspension or expiration of the license or the imposition of restriction o:ri the licence; or

(b}

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

12)

Where any licence is revoked or suspended or has expired under this

Part, the Authority may by notice in writing permit the holder of a licence to

(a}

in the case of a revocation, carry on business operations for the purpose of closing down the business connected with the revocation;

(b}

in the case of a suspension, carry on only essential business operations for the protection of interests of clients of the regulated firm during the period of suspension; or

(c} in the case of an expiration, carry on such business activity as the

Authority may approve for the protection of the interest of clients of the holder of the licence before such expiry, subject to such conditions as the

Authority may specify in the notice.

Notification of change of holder of capital markets services licence's business activity.