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
Vault manager liability for stored bullion requires compensation benchmarks, force-majeure exclusion, and adequate insurance against specified risks. Vault managers are liable for loss of or injury to bullion stored in their vaults. Damage or loss despite reasonable care requires compensation based on ... Summary
Vault manager liability for stored bullion requires compensation benchmarks, force-majeure exclusion, and adequate insurance against specified risks.
Vault managers are liable for loss of or injury to bullion stored in their vaults. Damage or loss despite reasonable care requires compensation based on the bullion's value at deposit, while negligence requires compensation based on its value on the date of damage or loss. Liability is excluded for force-majeure events. Vault managers must maintain adequate insurance for risks specified by the bullion depository or the Authority.
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