Removal request as against the exchange operator

(1) The exchange supervisory authority may require the removal of a manager of an exchange operator where 1. facts exist showing that the person does not satisfy the conditions of section 4a(1), or 2. the person, as manager, has infringed the provisions of this Act or orders of the exchange supervisory authority and, despite a warning from the exchange supervisory authority, continues that conduct wilfully or recklessly.
(2) The exchange supervisory authority may require the removal of a member of a management or supervisory body where 1. facts exist showing that the person does not satisfy the conditions of section 4b(1), first sentence, 2. material infringements by the exchange operator of the principles of orderly management have escaped that person's attention as a result of careless exercise of their monitoring and control function, and they continue that conduct wilfully or recklessly despite a warning from the exchange supervisory authority, or 3. the person has not caused everything necessary to be done to remedy infringements found, and, despite a warning from the exchange supervisory authority, continues to fail wilfully or recklessly to do so.