Central Securities Depository Act, 2007 (Act 733)
Section 53 of Act 733
(1) A central securities depository shall establish and maintain a Guarantee Fund for the purpose of providing an indemnity against default in respect of payments for or delivery of securities by a depository participant and of obligations of participants towards the central securities depository.
(2) The assets of the Guarantee Fund consists of moneys accruing to the Fund and contributions specified in the central securities depository rules.
(3) Where the central securities depository has made payment from the Guarantee Fund in relation to a default, even if the central securities depository is not a counter party to the transaction between selling and buying participants, it shall be subrogated to the rights and powers of the participant not in default for the purpose of the seizure and sale of unpaid securities and of operating the Guarantee Fund.
Procedure to Follow
Not Avaiable
Responsible Institution
Accra Central
- Email: info@bog.gov.gh
- Website: www.bog.gov.gh
- GPS: GA-065-3452
- Telephone: 233302666174
Relevant Forms to Download
Not Available
Online System
Fees/ charges
Not Avaiable
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