ADVOKS GLOBAL · KENYA
The Capital Markets (Commodity Markets) Regulations
49. Management of the Fund
Edition: 2022-12-31 · In force
49. Management of the Fund
The Settlement Guarantee Fund may be used for such purposes specified by the commodity exchange, which may include—(a)defraying the expenses of creation and maintenance of the settlement guarantee fund;(b)temporary application of the settlement guarantee fund to meet shortfalls and deficiencies arising out of the clearing and settlement obligations of members of a commodity exchange in respect of and connected to transactions related to spot commodity contracts;(c)meeting any loss or liability of a clearing house arising out of clearing and settlement operations;(d)repayment of the balance amount to a member pursuant to provisions in the commodity exchange rules regarding the repayment of deposits after meeting all obligations, when such a member ceases to be a member of a commodity exchange; and(e)any other purpose as may be specified by the commodity exchange.