Singapore legislation
Clause 24
Clause 24
Amendment of section 69
Section 69 of the principal Act is hereby amended —
by deleting the expression “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” appearing in the fourth, fifth and sixth lines of subsection (1) thereof and substituting therefor the words “member company a levy of such amount as it thinks fit”;
by deleting subsection (3) thereof and substituting therefor the following: —“(3) No member company shall be required to pay by way of levy under this section more than one hundred thousand dollars in the aggregate.”; and
by deleting the marginal note thereto and substituting therefor the following: —“Levy to meet liabilities.”.