Victorian Consolidated Legislation

Futures Industry (Application of Laws) Act 1986 - SECT 17

Transitional provision for fidelity funds

17. Transitional provision for fidelity funds



(1) There may be paid out of the fidelity fund of the Stock Exchange of
Melbourne Limited established under the Securities Industry (Victoria) Code an
amount not exceeding $500 000 to be paid into the fidelity fund established
under the Futures Industry (Victoria) Code of an approved body that is a
relevant organization within the meaning of Part VII of the Futures Industry
(Victoria) Code.

(2) In subsection (1), approved body means-

   (a)  the Stock Exchange of Melbourne Limited if it is a relevant
        organization within the meaning of Part VII of the Futures Industry
        (Victoria) Code; or

   (b)  if the Stock Exchange of Melbourne Limited is not such a relevant
        organization, another such relevant organization approved by the
        Minister and the Stock Exchange of Melbourne Limited.