FRIDAY, JUNE 18, 1976
COMPENSATION FUND
THE HONG KONG COMMODITY EXCHANGE SHALL ESTABLISH AND MAINTAIN A COMPENSATION FUND. THE EXCHANGE WILL DEPOSIT WITH THE COMMISSION IN RESPECT OF EACH MEMBER OF THE EXCHANGE AN AMOUNT OF $25,000 IN CASH, TOGETHER WITH A BANK GUARANTEE IN THE SUM OF $25,000. A RATE OF INTEREST WILL BE DECLARED AND PAID ANNUALLY TO THE EXCHANGE ON MONIES EARNED BY THE DEPOSITS.
THE COMPENSATION FUND IS ESTABLISHED TO MEET CLAIMS OF CLIENTS IN THE EVENT OF A FAILURE BY A MEMBER. THE MAXIMUM CLAIM IS $1 MILLION PER MEMBER AND THE MAXIMUM LIABILITY OF THE EXCHANGE TO THE COMPENSATION FUND IN RESPECT OF ANY ONE MEMBER IS $50,000.
MISCELLANEOUS PROVISIONS
THE COMMISSION MAY REQUIRE THE EXCHANGE COMPANY, CLEARING HOUSE,
GUARANTEE CORPORATION OR ANY DEALER TO PRODUCE BOOKS ACCOUNTS, DOCUMENTS, OR TO PROVIDE SUCH OTHER INFORMATION AS THE COMMISSION MAY REQUIRE.
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