Singapore legislation
Section 38
Section 38
Nature of pool and segregation of funds by futures pool operator, etc.
(1)
A futures pool operator shall operate its pool as an entity cognizable as a legal entity, separate from that of the futures pool operator.
(2)
All moneys, securities or other property received by a futures pool operator from existing or prospective pool participants for the purchase of an interest in a pool shall be received in the pool’s name.
(3)
No futures pool operator shall commingle the property of any pool that it operates or intends to operate with the property of any other person.
(4)
The Authority may by regulations provide for the capital structure, minimum financial requirements, organisation and conduct of a pool operated by a futures pool operator and for the exemption of certain pools from the requirements of this section.