Singapore legislation
Clause 88
Clause 88
Notice calling for claims against fund
(1)
The committee of a securities exchange may cause to be published in a daily newspaper published and circulating generally in Singapore a notice, in or to the effect of the form prescribed, specifying a date, not being earlier than 3 months after the said publication, on or before which claims for compensation from the fidelity fund, in relation to the person specified in the notice, may be made.
(2)
A claim for compensation from a fidelity fund in respect of a defalcation shall be made in writing to the committee —
where a notice under subsection (1) has been published on or before the date specified in the said notice; or
where no such notice has been published within 6 months after the claimant became aware of the defalcation,and any claim which is not so made shall be barred unless the committee otherwise determines.
(3)
No action for damages shall lie against a securities exchange or against any member or employee of a securities exchange or of a committee or management sub-committee by reason of any notice published in good faith and without malice for the purposes of this section.