Commonwealth Repealed Acts
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This legislation has been repealed.
CORPORATIONS LAW
- SECT 986
Final accounts in respect of joining exchange's fidelity
fund
- (1)
- A joining exchange shall,
as soon as practicable, and in any event within 2 months, after the joining
day in relation to the joining exchange:
- (a)
- prepare a
statement of the assets and liabilities of its fidelity fund as on that day;
and
- (b)
- appoint a registered
company auditor to audit the statement.
- (2)
- Without limiting the
generality of subsection (1), a statement prepared under that subsection shall
set out full particulars, so far as known when the statement is prepared, of
all liabilities (including contingent liabilities) of the joining exchange's
fidelity fund in respect of transferred
claims.
- (3)
- An auditor appointed to
audit a statement prepared under subsection (1) in relation to a joining
exchange's fidelity fund shall, within 1 month after the statement is
prepared:
- (a)
- audit the
statement; and
- (b)
- cause a report on the
statement to be given to the Board and a copy of the report to be given to the
board of the joining exchange.
- (4)
- The Board shall give to
the Commission a copy of a report given to the Board under this section, and a
copy of the statement to which the report relates, within 14 days after the
report is given to the Board.
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