SECURITIES INDUSTRY ACT 1980 No. 66, 1980 - SECT 112 Claims against the fund

SECURITIES INDUSTRY ACT 1980 No. 66, 1980 - SECT 112

112. (1) Subject to this Part, a person who suffers pecuniary loss as referred
to in sub-section 111 (1) is entitled to claim compensation from the fidelity
fund of the relevant stock exchange and to take proceedings in the Court as
provided in this Part against the stock exchange to establish that claim.

(2) A person does not have a claim against a fidelity fund of a stock exchange
in respect of-

   (a)  pecuniary loss suffered before the commencement of this Act; or

   (b)  pecuniary loss in respect of money or other property suffered after
        the money or property had, in due course of the administration of a
        trust, ceased to be under the sole control of a member of the
        stock exchange or of a partner or partners in a member firm recognized
        by the stock exchange.

(3) Subject to this Part, the amount that a claimant is entitled to claim as
compensation from a fidelity fund of a stock exchange is the amount of the
actual pecuniary loss suffered by him (including the reasonable costs of, and
disbursements incidental to, the making and proof of his claim) less the
amount or value of all moneys or other benefits received or receivable by him
from a source other than the fund in reduction of the loss.

(4) In addition to any compensation that is payable under this Part, interest
is payable out of the fidelity fund on the amount of the compensation, less
any amount attributable to costs and disbursements, at the rate of 5% per
annum (or, if another rate is prescribed, that other rate) calculated from and
including the day on which the pecuniary loss was suffered until the day on
which the claim is satisfied.