Securities
[1989 Ed.
(6) Any delegation under this section may at any time be varied or revoked.
(7) The Commission may at any time remove any member of the Committee appointed by it under this section and may fill any vacancy in the Committee however arising.
(8) Subject to any direction of the Commission, the Committee may regulate its procedure in such manner as it thinks fit.
101. Money constituting the compensation fund
(1) The compensation fund shall consist of-
(Amended 10 of 1989 s. 65)
(a) all money paid to or deposited with the Commission by the Exchange Company in accordance with the provisions of this Part; (Amended 58 of 1985 s. 64)
(b) (Repealed 58 of 1985 s. 64)
(c) all money recovered by or on behalf of the Commission by the exercise of any right of action conferred by this Part;
(d) all money borrowed under subsection (2);
(e) all other money lawfully paid into the fund.
(2) The Commission may from time to time borrow for the purpose of the compensation fund from any lender and may charge any investments acquired under section 105 by way of security for any such loan; but the aggregate sum owing at any one time in respect of any such loans shall not exceed $1,000,000.
102. Money to be kept in bank account
The Commission shall open at one or more licensed banks a separate bank account or separate bank accounts and shall, pending its application in accordance with this Part, pay into or transfer to that account or those accounts all money forming part of the compensation fund.
103. Accounts of 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 section commences, 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 that 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 balance sheet and revenue and expenditure account prepared under subsection (1) and shall submit the report to the Commission.
Securities
[1989 Ed.
(6) Any delegation under this section may at any time be varied or revoked.
(7) The Commission may at any time remove any member of the Committee appointed by it under this section and may fill any vacancy in the Committee however arising.
(8) Subject to any direction of the Commission, the Committee may regulate its procedure in such manner as it thinks fit.
101. Money constituting the compensation fund
(1) The compensation fund shall consist of-
(Amended 10 of 1989 s. 65 )
(a) all money paid to or deposited with the Commission by the Exchange Company in accordance with the provisions of this Part; (Amended 58 of 1985 s. 64)
(b) (Repealed 58 of 1985 s. 64)
(c) all money recovered by or on behalf of the Commission by the
exercise of any right of action conferred by this Part;
(d) all money borrowed under subsection (2);
(e) all other money lawfully paid into the fund.
(2) The Commission may from time to time borrow for the purpose of the compensation fund from any lender and may charge any investments acquired under section 105 by way of security for any such loan; but the aggregate sum owing at any one time in respect of any such loans shall not exceed $1,000,000.
102. Money to be kept in bank account
The Commission shall open at one or more licensed banks a separate bank account or separate bank accounts and shall, pending its application in accordance with this Part, pay into or transfer to that account or those accounts all money forming part of the compensation fund.
103. Accounts of 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 section commences, 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 that 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 balance sheet and revenue and expenditure account prepared under subsection (1) and shall submit the report to the Commission.
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