42
CAP. 250]
Commodities Trading
[1989 Ed.
(b) the form and timing of returns to be made by the Exchange Company to the Commission in respect of particulars of leviable transactions;
(c) the furnishing by the Exchange Company to the Commission of audited accounts in support of such returns;
(d) the making of assessments by the Commission in default of returns by the Exchange Company;
(e) the manner and timing of payments by the Exchange Company to the Commission in respect of the contract levy;
(f) any other matter relating to the obligations of the Exchange Company in respect of the contract levy which may conveniently be prescribed by such rules.
(3) Rules made under subsection (2) shall be published in the Gazette and shall come into operation not earlier than 1 month after such publication.
(4) For the purposes of this section and of any rules made under it, "leviable transaction" means a contract to buy or a contract to sell which is
(a) traded on the Commodity Exchange by a shareholder in the course of trading in commodity futures contracts; and
(b) registered with a clearing house.
(Added 61 of 1985 s. 30)
30f905.55 3 of 90s.53
80. Money to be kept in bank account
The Commission shall open at one or more licensed banks or with one or more deposit-taking companies, one or more bank accounts and shall, pending their application in accordance with this Part, pay into or transfer to such bank account or accounts all amounts forming part of the compensation fund.
(Amended 61 of 1985 s. 31)
81. Accounts of compensation fund
(1) The Commission shall keep proper accounts of the compensation fund, and shall in respect of the financial year beginning before and ending after the day on which this Ordinance comes into operation, and in respect of each subsequent financial year, prepare a revenue and expenditure account and a balance sheet made up to the last day of the financial year.
(2) The Commission shall appoint an auditor to audit the compensation fund.
(3) The auditor so appointed shall annually audit the accounts of the compensation fund and shall audit, and prepare an auditor's report in respect of, each revenue and expenditure account and balance sheet prepared under subsection (1) and shall submit the report to the Commission.
42
CAP. 250]
Commodities Trading
[1989 Ed.
(b) the form and timing of returns to be made by the Exchange Company to the Commission in respect of particulars of leviable transactions;
(c) the furnishing by the Exchange Company to the Commission of
audited accounts in support of such returns;
(d) the making of assessments by the Commission in default of
returns by the Exchange Company;
(e) the manner and timing of payments by the Exchange Company
to the Commission in respect of the contract levy;
(f) any other matter relating to the obligations of the Exchange Company in respect of the contract levy which may conveniently be prescribed by such rules.
(3) Rules made under subsection (2) shall be published in the Gazette and shall come into operation not earlier than 1 month after such publication.
(4) For the purposes of this section and of any rules made under its "leviable transaction" means a contract to buy or a contract to sell which is
(a) traded on the Commodity Exchange by a shareholder in the
course of trading in commodity futures contracts; and (b) registered with a clearing house.
(Added 61 of 1985 s. 30)
30f905.55 3 of 90s.53
80. Money to be kept in bank account
The Commission shall open at one or more licensed banks or with one or
in
banke
more
-depool Cen companies, one or more bank accounts and shall, pending their application in accordance with this Part, pay into or transfer to such bank account or accounts all amounts forming part of the compensation fund.
(Amended 61 of 1985 s. 31)
81. Accounts of compensation fund
(1) The Commission shall keep proper accounts of the compensation fund, and shall in respect of the financial year beginning before and ending after the day on which this Ordinance comes into operation, and in respect of each subsequent financial year, prepare a revenue and expenditure account and a balance sheet made up to the last day of the financial year.
(2) The Commission shall appoint an auditor to audit the compensation fund.
(3) The auditor so appointed shall annually audit the accounts of the compensation fund and shall audit, and prepare an auditor's report in respect of, each revenue and expenditure account and balance sheet prepared under subsection (1) and shall submit the report to the Commission.
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