Section 49E

A Futures Exchange shall establish and keep proper accounts of its fidelity fund and shall, before 31st March in each year, cause a balance-sheet in respect of such accounts to be made out as at the preceding 31st December.

The Futures Exchange shall appoint an auditor to audit the accounts of the fidelity fund.

The auditor appointed by the Futures Exchange shall regularly and fully audit the accounts of the fidelity fund and shall audit each balance-sheet and cause it to be laid before the Exchange not later than 3 months after the balance-sheet was made out.