Singapore legislation
Section 176
Section 176
Establishment of fidelity fund
Amended by2/20092/2009
(1)
Each approved exchange must establish, keep and administer a fidelity fund (called in this Part a fidelity fund or fund).
Amended by2/2009
(2)
The assets of the fidelity fund of an approved exchange —
(a)
are the property of the exchange;
(b)
must be kept separate from all other property of the exchange; and
(c)
must be held in trust for the purposes set out in this Part.
Amended by2/2009