Securities Markets Order, 2013 · s 105

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s 105Indemnity insurance

(1)

The senior management of the central securities depository must act in a prudent manner in the interest of members' accounts and the central securities depository is liable for any loss caused as a result of negligence or non-compliance with this Order or regulations made thereunder.

12)

A central securities depository must maintain adequate professional indemnity insurance at all times covering and indemnifying against liability for negligence by the senior management in respect of the loss of cash, securities or other assets of the central securities depository.