Section 49J

Subject to this Part, every person, other than an accredited investor who suffers pecuniary loss as provided in section 49I(1), shall be entitled to claim compensation from the fidelity fund and to take proceedings in the High Court as provided in this Act against the Futures Exchange to establish such claim.

Subject to subsection (3), a person shall in no case have any claim against the fidelity fund in respect of a defalcation in respect of money or other property which prior to the commission of the defalcation had, in the due course of the administration of a trust, ceased to be under the sole control of the director or directors of the member of the Futures Exchange.

Subject to this Part, the amount which any claimant shall be entitled to claim as compensation from a fidelity fund shall be 75% of the actual pecuniary loss suffered by him (including the reasonable costs of and disbursements incidental to the making and proof of his claim) less the amount or value of all moneys or other benefits received or receivable by him from any source other than the fund in reduction of the loss; but in any event the maximum amount payable to each claimant to satisfy any claim shall not exceed $100,000.