Section 207 Investments and Securities Act

Section 207 of the Investments and Securities Act 2025 is about Board of trustees may delegate functions. It is under Part XIV (Investor Protection Fund) of the Act. It provides as follows:

(1) The board of trustees may for the purpose of management of the investor protection fund appoint a management subcommittee of at least three and not more than five persons.

(2) The board of trustees may by resolution delegate to a subcommittee appointed under subsection (1) all or any of its powers.

(3) Any power, authority or discretion so delegated by the board of trustees may be exercised by members forming a majority of the subcommittee as if that power, authority or discretion had been conferred on a majority of the members of the subcommittee.

(4) Any delegation by the board of trustees may at any time in like manner be rescinded or varied.

(5) The board of trustees may at any time remove any member of a subcommittee appointed by it under this section and may fill any vacancy in the subcommittee.

(6) A decision of a subcommittee of the board of trustees shall be of no effect until it is confirmed or ratified by the board of trustees.