Regulatory Alerts2025-05-16
Securities (Compensation Fund) Regulations 162 of 1993
Issued by the Zambian Minister under Statutory Instrument 162 of 1993, these regulations establish and govern a dedicated compensation fund to reimburse persons suffering pecuniary loss from licensee defaults. The framework mandates that all fund assets be held in a separate bank account, requires annual audited accounts, and caps total payouts at one million kwacha per licensee unless the Minister orders a targeted increase. Eligible claimants must submit written claims to the Compensation Fund Committee within specified deadlines, triggering evaluations that allow direct payments while preserving the Commission's subrogation rights against defaulting licensees.
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