Financial Markets Act, 2012 (Act No. 19 of 2012)Chapter VII : General Provisions Applicable to Market Infrastructures72. Limitation of liability |
| (1) | No market infrastructure, chief executive officer, director, official, other officer, employee or representative of a market infrastructure or any member of a controlling body or committee of a controlling body of a market infrastructure, is liable for any loss sustained by or damage caused to any person as a result of anything done or omitted by— |
| (a) | the market infrastructure, chief executive officer, other officer, employee, representative or member in the bona fide performance of an obligation or function under or in terms of this Act, the listing requirements of an exchange or exchange, depository or clearing house rules or directives; or |
| (b) | a clearing member, an authorised user or participant. |
| (2) | An authorised user that fails to comply with the rules issued in terms of section 17(2)(i) or a participant that fails to comply with the rules issued in terms of section 35(2)(s) does not incur liability to a third party for financial loss or damages because of that failure, unless the failure was grossly negligent or wilful. |