(1) A futures brokers licence is subject to:

(a)

a condition that the licensee be, throughout the currency of the licence, a member of a futures organisation; and

(b)

a condition that the licence is suspended throughout a period throughout which the licensee:

(i)

is a member of no futures organisation; and

(ii)

would, but for the suspension of the licensee's membership of a futures organisation, be a member of the last-mentioned futures organisation.

(2) A person whose membership of a futures organisation is suspended for a period:

(a)

is, for the purposes of paragraph (1)(a), a member of that futures organisation throughout that period; and

(b)

is, for the purposes of paragraph (1)(b), a member of that futures organisation at no time during that period.