Clause 176
Establishment of fidelity fund
of Securities and Futures Bill
BillNot in forceProvision 176 of 348
Clause 176
(1)
Each securities exchange and each futures exchange shall establish, keep and administer a fidelity fund (referred to in this Part as a fidelity fund or fund).
(2)
The assets of the fidelity fund of a securities exchange or futures exchange shall —
(a)
be the property of the exchange;
(b)
be kept separate from all other property of the exchange; and
(c)
be held in trust for the purposes set out in this Part.