49D. Payments out of fidelity fund
Feedback & supportLast amended by an amending law of 1995.
Subject to this Part, there shall from time to time be paid out of the fidelity fund of a Futures Exchange as required and in such order as the Exchange considers proper —
Futures Exchange
“Exchange” or “Futures Exchange” means —(a)the Singapore International Monetary Exchange Ltd.; or(b)a body corporate —(i)that provides or proposes to provide the physical facilities necessary for trading in futures contracts; and(ii)that maintains or proposes to maintain a futures market that is approved by the Authority under section 4;
the amount of all claims, including costs, allowed by the Exchange or established against the Exchange under this Part;
Exchange
“Exchange” or “Futures Exchange” means —(a)the Singapore International Monetary Exchange Ltd.; or(b)a body corporate —(i)that provides or proposes to provide the physical facilities necessary for trading in futures contracts; and(ii)that maintains or proposes to maintain a futures market that is approved by the Authority under section 4;
all legal and other expenses incurred in investigating or defending claims made under this Part or incurred in relation to the fund or in the exercise by the Exchange of the rights, powers and authorities vested in it by this Part in relation to the fund;
the expenses incurred or involved in the administration of the fund including the salaries and wages of persons employed by the Exchange in relation thereto; and
all other moneys payable out of the fund in accordance with the provisions of this Act.