97Deposits to be invested by stock exchange

##### 97 Deposits to be invested by stock exchange (1) Where a stock exchange receives a deposit from a person or partnership under section 95, the stock exchange holds the deposit upon trust for the person or partnership and shall invest the deposit: (a) on interest‑bearing term deposit with a banking corporation; or (b) on deposit with a corporation in respect of which a declaration made under paragraph 97(7)(b) of the Companies Act 1981 is in force. (3) A participating exchange shall pay into the Fund money received by way of interest in respect of amounts invested by it under subsection (1). (3A) A stock exchange (other than a participating exchange) shall pay money received by way of interest in respect of amounts invested by it under subsection (1) into its fidelity fund. (4) A stock exchange shall, on demand being made by a person or partnership who has lodged a deposit with the stock exchange, pay to the person or partnership an amount deposited with the stock exchange under section 95. (5) Nothing in subsection (4) affects the obligations of a person or partnership under section 95. (6) A person or partnership shall pay an amount received from a stock exchange under subsection (4) into a trust account maintained by the person or partnership under section 73. (7) Where a person or partnership contravenes subsection (6), the person, or each partner in the partnership, as the case may be, is guilty of an offence. Penalty: $5,000 or imprisonment for 1 year, or both. (8) The Fund shall guarantee the repayment by a participating exchange of the amount of a deposit received by the participating exchange from a person or partnership. (9) The fidelity fund of a stock exchange (other than a participating exchange) shall guarantee the repayment by the stock exchange of the amount of a deposit received by the stock exchange from a person or partnership. (10) In this section, participating exchange means a stock exchange that is, for the purposes of Part IXA, a participating exchange.