INVESTMENTS AND SECURITIES ACT

Section 208: Protection of the investor protection fund in the event of any reduction.

2007Section 208 of 316Federal Republic of Nigeria

If for whatever reason the investor protection fund falls below the minimum amount approved for a securities exchange or capital trade point the board of trustees shall take steps to make up the deficiency:(a) by direct transfer to the investor protection fund of an amount which is equal to the deficiency from other funds of the securities exchange or capital trade point; or
(b) in the event that there are insufficient funds to transfer under paragraph (a) of this section, by determining the amount which each dealing member shall contribute to the investor protection fund.

Cite this section

Section 208, INVESTMENTS AND SECURITIES ACT (2007).

https://repo.podus.ai/laws/investments-and-securities-act/section/208/