Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 1228

(1)

A futures organisation shall keep a fidelity fund, and the board of the futures organisation shall administer the fidelity fund.

(2)

The assets of a fidelity fund of a futures organisation are the property of the futures organisation, but shall be kept separately from all other property of the futures organisation and shall be held in trust for the purposes set out in this Part.

(3)

A futures organisation that, immediately before the commencement of this section, kept a fidelity fund under a previous law corresponding to this Part shall, after that commencement, keep that fidelity fund in accordance with, and for the purposes of, this Part.