THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.9 - FIDELITY FUNDS

SECTION 899   PAYMENT TO THE CREDIT OF THE FIDELITY FUND OF A FUTURES EXCHANGE OR FUTURES ASSOCIATION  

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899(1)  [Transfer to fidelity fund of futures organisation]  

Where a body corporate that is a securities exchange, or that is related to a securities exchange, becomes a futures organisation for the purposes of Part 8.6:

(a)  the Minister may approve in writing, on such conditions (if any) as are specified in the approval:

(i) the payment of an amount specified in the approval out of the fidelity fund kept under this Part by the body corporate, or by the securities exchange, as the case may be; and
(ii) the payment of that amount to the credit of the fidelity fund established or to be established by the body corporate under that Part; and

(b)  if the Minister does so, that amount shall, in accordance with the conditions (if any) so specified:

(i) be paid out of the fidelity fund referred to in subparagraph (a)(i); and
(ii) be paid to the credit of the fidelity fund referred to in subparagraph (a)(ii).

899(2)  [Effect of approval of former Ministerial Council]  

An approval given by the Ministerial Council before the commencement of this section under a previous law corresponding to subsection (1) shall be deemed to be an approval given by the Minister under that subsection and any reference in the approval to a fidelity fund established or to be established under a previous law corresponding to Part 8.6 shall be deemed to be a reference to a fidelity fund established or to be established under that Part.

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