Singapore legislation
Clause 7
Clause 7
Repeal and re-enactment of section 49F
Section 49F of the principal Act is repealed and the following section substituted therefor:“Fidelity fund to consist of amount of $20 million, etc. 49F. The fidelity fund of a Futures Exchange shall consist of an amount of not less than —
(a)
$20 million; or
(b)
such other amount as the Minister may, by order published in the Gazette, specify in substitution of the amount specified under paragraph (a), to be paid to the credit of the fund on the establishment of the Exchange under this Act or any time after its establishment as determined by the Minister.”.