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← Securities and Futures Act 2001

Securities and Futures Act 2001 s 183

s 183 Levy to meet liabilities

183.—(1) If at any time a fidelity fund is not sufficient to satisfy the liabilities that are then ascertained of an approved exchange in relation thereto, the approved exchange —(a) may impose on every member a levy of such amount as it thinks fit; or (b) if ordered by the Authority, must impose a levy of such amount which must in the aggregate be equivalent to the amount so specified in the order.[2/2009] (2) The amount of the levy must be paid within the time and in the manner specified by the approved exchange either generally or in relation to any particular case.[2/2009] (3) No member of an approved exchange may be required to pay by way of levy under this section more than $300,000 in the aggregate in any particular case.[2/2009]

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Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. Read the official text ↗

Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.

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