Singapore legislation
Clause 68
Clause 68
Levy in addition to annual contributions
(1)
If at any time a fidelity fund is not sufficient to satisfy the liabilities that are then ascertained of the stock exchange in relation thereto, the committee may impose on every stockbroker liable to contribute to that fund a levy of such amount as it thinks fit, not exceeding one thousand dollars, for payment into the fund.
(2)
The amount of such levy shall be paid within the time and in the manner specified by the committee either generally or in relation to any particular case.
(3)
No stockbroker shall be required to pay by way of levy under this section more than ten thousand dollars in the aggregate, or more than three thousand dollars in any period of twelve months (or such greater sum as the Minister may, by order, determine).