Singapore legislation

Clause 44

of Securities Industry Bill

Clause 44

Moneys constituting fidelity fund

The fidelity fund of a stock exchange shall consist of —

(a)

all moneys paid to the stock exchange by stock brokers in accordance with the provisions of this Part;

(b)

the interest on moneys invested by the stock exchange under section 38 of this Act;

(c)

the interest and profits from time to time accruing from the investment of the fund;

(d)

all moneys paid to the fund by the stock exchange;

(e)

all moneys recovered by or on behalf of the stock exchange in the exercise of any right of action conferred by this Part;

(f)

all moneys paid by an insurer pursuant to a contract of insurance or indemnity entered into by the committee of the stock exchange under section 64 of this Act; and

(g)

all other moneys lawfully paid into the fund.

Read in full context — Securities Industry Bill →