Section 200 Investments and Securities Act

Section 200 of the Investments and Securities Act 2025 is about Composition and tenure of board of trustees. It is under Part XIV (Investor Protection Fund) of the Act. It provides as follows:

(1) The board of trustees of an investor protection fund shall consist of a maximum of nine members, comprising of —
(a) a representative from the dealing member firms;
(b) a representative from the exchange;

(c) a representative from one of the financial market infrastructures;
(d) a representative of the Commission;
(e) one person representing the institutional investors;
(f) a representative of association of capital market registrars or custodians;

(g) one person with proven integrity, who is knowledgeable in capital market matters;
(h) one person representing a registered association of the relevant investor class; and
(i) one person who shall be a legal practitioner knowledgeable in capital
market matters.

(2) A member of the board of trustees shall —
(a) be appointed by the board of an exchange on the recommendation of the body he represents; and
(b) hold office for a term of three years and may be re-appointed for a further term of three years and no more, on the recommendation of the body he represents.

(3) Notwithstanding the provisions of subsection (2), the board of trustees may appoint a member whose tenure has expired as a temporary member provided that such appointment shall be for a maximum term of six months and no more.

(4) A temporary member appointed under subsection (3) may exercise all the rights, privileges and responsibilities of a board member.