Singapore legislation
Clause 16
Clause 16
Repeal and re-enactment of section 81
Section 81 of the principal Act is repealed and the following section substituted therefor:“Fidelity fund to consist of an amount of $20 million, etc.
81. The fidelity fund of a securities 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 securities exchange under this Act or at any time after its establishment as determined by the Minister.”.