In forceAmended1996 Revised EditionCurrent version · 1996 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
49N. Subrogation of Futures Exchange to rights, etc., of claimant upon payment from fund
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Last amended by an amending law of 1995.
On payment out of a fidelity fund of any moneys in respect of any claim under this Part, the Futures Exchange shall be subrogated to the extent of such payment to all the rights and remedies of the claimant in relation to the loss suffered by him by reason of the defalcation on which the claim was based.
Futures Exchange
Defined · s 2
“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;