Nature of pool and segregation of funds by pool operator, etc.
31.—(1) A commodity futures pool operator shall operate its pool as an entity cognizable as a legal entity, separate from that of the commodity pool operator or commodity futures pool operator.
[22/2001 wef 27/06/2001]
(2) All money, securities or other property received by a commodity pool operator or commodity futures pool operator from existing or prospective pool participants for the purchase of an interest in a pool shall be received in the pool’s name.
[22/2001 wef 27/06/2001]
(3) No commodity pool operator or commodity futures pool operator shall commingle the property of any pool that it operates or intends to operate with the property of any other person.
[22/2001 wef 27/06/2001]
(4) The Board may by regulations provide for the capital, structure, minimum financial requirements, organisation and conduct of a pool operated by a commodity pool operator or commodity futures pool operator and for the exemption of certain pools from the requirements of this section.