Singapore legislation
Section 49F
Section 49F
Fidelity fund to consist of amount of $5 million
Amended by9/959/95
(1)
The fidelity fund of a Futures Exchange shall consist of an amount of not less than $5 million, or such other sum as may by order be determined by the Minister from time to time, to be paid to the credit of the fund on the establishment of the Exchange under this Act or any time after its establishment as determined by the Minister.
Amended by9/95
(2)
The fidelity fund shall be increased by an annual payment into the fund of a sum that is equal to 10% or more of the net income of a Futures Exchange for any one financial year, but the Minister may, after consultation with the Exchange, increase that percentage.
Amended by9/95