RIGHTS AND OBLIGATIONS OF BULLION DEPOSITORIES, PARTICIPANTS AND BENEFICIAL OWNERSInternational Financial Services Centres Authority (Bullion Market) Regulations, 2025
RIGHTS AND OBLIGATIONS OF BULLION DEPOSITORIES, PARTICIPANTS AND BENEFICIAL OWNERSInternational Financial Services Centres Authority (Bullion Market) Regulations, 2025
International Financial Services Centres Authority (Bullion Market) Regulations, 2025 Chapter V NET WORTH OF BULLION EXCHANGE AND BULLION CLEARING CORPORATION
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Minimum net worth compliance requires bullion exchanges and clearing corporations to maintain capital and defer shareholder profit distributions. Every bullion exchange and bullion clearing corporation must maintain a minimum net worth of USD 10 million at all times, subject to a higher requirement ... Summary
Minimum net worth compliance requires bullion exchanges and clearing corporations to maintain capital and defer shareholder profit distributions.
Every bullion exchange and bullion clearing corporation must maintain a minimum net worth of USD 10 million at all times, subject to a higher requirement that may be imposed as a risk-management measure based on the nature and scale of business. Profit distributions to shareholders are prohibited until the prescribed net worth is achieved. An audited annual net worth certificate issued by the statutory auditor must be submitted for the preceding financial year by 30 September.
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