In forceAmended2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
Securities and Futures Act 2001 · 2020 Revised Edition · Part 11 · Investor Compensation Scheme
176. Establishment of fidelity fund
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Last amended by an amending law of 2009.
(1)
Each approved exchange must establish, keep and administer a fidelity fund (called in this Part a fidelity fund or fund).
approved exchange
Defined · s 2
“approved exchange” means a corporation that is approved by the Authority under section 9(1)(a) as an approved exchange;
(2)
The assets of the fidelity fund of an approved exchange —
(a)
are the property of the exchange;
(b)
must be kept separate from all other property of the exchange; and
(c)
must be held in trust for the purposes set out in this Part.