83. Levy to meet liabilities
Feedback & supportIf at any time a fidelity fund is not sufficient to satisfy the liabilities that are then ascertained of the securities exchange in relation thereto, the committee may impose on every member company a levy of such amount as it thinks fit or, if ordered by the Minister, shall impose a levy of such sum which shall in the aggregate be equivalent to the amount so specified in the order.
fidelity fund
“fidelity fund” or “fund” means a fidelity fund established under section 75;
The amount of such levy shall be paid within the time and in the manner specified by the committee either generally or in relation to any particular case.
committee
“committee”, in relation to a securities exchange, means the persons for the time being in whom the management of the securities exchange is vested;
No member company shall be required to pay by way of levy under this section more than $300,000 in the aggregate.
member company
“member company” means a company which carries on a business of dealing in securities and is recognised as a member company by a securities exchange;