QUALIFICATION FOR MEMBERSHIP OF THE BULLION EXCHANGE OR BULLION CLEARING CORPORATIONInternational Financial Services Centres Authority (Bullion Market) Regulations, 2025
QUALIFICATION FOR MEMBERSHIP OF THE BULLION EXCHANGE OR BULLION CLEARING CORPORATIONInternational Financial Services Centres Authority (Bullion Market) Regulations, 2025
Regulation 51 - Bullion Depositories to indemnify loss in certain cases
International Financial Services Centres Authority (Bullion Market) Regulations, 2025 Chapter XI RIGHTS AND OBLIGATIONS OF BULLION DEPOSITORIES, PARTICIPANTS AND BENEFICIAL OWNERS
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Beneficial owner loss indemnification requires bullion depositories to compensate wrongful acts, negligence, or defaults involving participants. A bullion depository must indemnify a beneficial owner for loss arising from the wrongful act, negligence or default of the depository or a participant. ... Summary
Beneficial owner loss indemnification requires bullion depositories to compensate wrongful acts, negligence, or defaults involving participants.
A bullion depository must indemnify a beneficial owner for loss arising from the wrongful act, negligence or default of the depository or a participant. Where the depository indemnifies loss attributable to a participant's negligence, it may recover the indemnified amount from that participant.
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