1989 Ed.]
Securities
[CAP. 333
71
(4) Not later than the 31st day of July in each year the Commission shall cause a copy of the audited balance sheet, revenue and expenditure account, and the auditor's report to be sent to the Exchange Company. (Amended 58 of 1985 s. 65)
104. Exchange Company to make deposits in respect of members
(1) The Exchange Company shall, subject to the provisions of this Part, deposit with the Commission and keep deposited in respect of each membership of the Exchange Company a sum of $50,000 payable in cash.
(2) The amount referred to in subsection (1) shall be deposited-
(a) in respect of every membership held on the appointed day, not later than 1 month after that date; and
(b) in respect of every membership taken up after the appointed day, not later than 1 month after the date on which such membership is taken up.
(3) For the purposes of this section and section 106, each share in the Exchange Company held by a member shall be deemed to constitute a separate membership.
(4) Any amount due under this section may be sued for and recovered by the Commission as a debt in any court of competent jurisdiction.
(Replaced 58 of 1985 s. 66)
105. Balance of sums in bank account may be invested
(1) The Commission may invest any money which forms part of compensation fund and is not immediately required for any other purposes provided for by this Part either-
(a) on fixed deposit with a licensed bank; or
(b) in securities in which trustees are authorized by law to invest trust funds.
(2) As soon as practicable after the end of each financial year, the Commission shall notify the Exchange Company in writing of- (Amended 58 of 1985 s. 67)
(a) the rate of interest to be paid for that financial year in respect of each sum deposited under section 104(1)(a);
(b) the manner and time of payment of that interest; and
(c) the amount to be charged to meet the expenses incurred or involved in the administration of the compensation fund.
(Replaced 62 of 1976 s. 28)
(3) Any fixed deposit receipts or documents relating to the investment of money in securities under subsection (1) may be kept in the office of the Commission or deposited by the Commission for safe-keeping with a licensed bank. (Added 62 of 1976 s. 28)