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(1) Where a person who is under an obligation to comply with, observe, enforce or give effect to die tides or regulations of a securities exchange fails in performing the duty, the Court, on the application of the Commission, that securities exchange or a person aggrieved by the failure, and after giving to the person against whom the order is sought an opportunity of being heard, may make an order giving directives to that person to perform the duty.

(2) For the purposes of subsection (1),

(a) a body corporate which is admitted to any official list of a securities exchange and has not been removed from that official list; or

(3) a person associated with a body corporate which is admitted to an official list of a securities exchange and has not been removed from that official list is under an obligation to comply with, observe and give effect to the directives of that securities exchange to the extent to which those rules apply in relation to it or that person.