Skip to content
Wakilii
Sign in Sign up free
Back to laws

Capital Markets Authority (Investor Compensation Fund) Regulations

Statutory Instrument 83 of 2023 Current version · as at 29 September 2023
Enacted2023
Commenced29 September 2023
Last amended—
Point-in-time consolidation · as at 29 September 2023. This page may not reflect amendments made after that date. Confirm the current position against the latest Uganda Gazette before relying on it.

About this Act

A full descriptive summary for this Act has not been recorded yet.

Jurisdiction
Uganda
Type
Principal Legislation
Status
In force
Language
English

Full text of the Act

6 parts · 23 sections

Enhanced Annotated View adds approved, source-linked propositions, operative requirements, judicial passages, related provisions, amendment notes and authority status. Choose Original PDF to inspect the source consolidation.

Uganda

Capital Markets Authority (Investor Compensation Fund) Regulations

Commenced on 29 September 2023

[This is the version of this document at 29 September 2023.]

Part III

8. Claim for compensation

The text of this section isn't in the consolidation we hold — see the original PDF above.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Claim for compensation”.

“Claim for compensation”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Claim for compensation”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
9. Compensatory claims

Regulation

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Compensatory claims”.

“Regulation”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Compensatory claims”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
10. Time limitation

The text of this section isn't in the consolidation we hold — see the original PDF above.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Limitation rule

This section establishes the statutory limit for “Time limitation”.

“Time limitation”
Primary legislation Source quotation matched
Practical effect

Check the relevant dates and any stated exception before commencing or resisting proceedings.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
11. Waiver of time limitation

The text of this section isn't in the consolidation we hold — see the original PDF above.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Limitation rule

This section establishes the statutory limit for “Waiver of time limitation”.

“Waiver of time limitation”
Primary legislation Source quotation matched
Practical effect

Check the relevant dates and any stated exception before commencing or resisting proceedings.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history

Part IV

14. Payment of compensation

15, Authority of Board

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Statutory power

This section confers or regulates the statutory power described as “Payment of compensation”.

“15, Authority of Board”
Primary legislation Source quotation matched
Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
16. Rejection of claim

17, Right of appeal

STATUTORY INSTRUMENTS

2023 No. 83.

The Capital Markets Authority (Investor Compensation Fund) Regulations, 2023

(Under section 81 and 101 of the Capital Markets Authority Act, Cap. 84)

IN EXERCISE of the powers conferred upon the Capital Markets Authority by section 101 of the Capital Markets Authority Act, these Regulations are made this 22" day of June, 2023.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Statutory power

This section confers or regulates the statutory power described as “Rejection of claim”.

“17, Right of appeal”
Primary legislation Source quotation matched
Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions
Capital Markets Authority Act
Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history

Part I

1. Title

These Regulations may be cited as the Capital Markets Authority (Investor Compensation Fund) Regulations, 2023.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Statutory power

This section confers or regulates the statutory power described as “Title”.

“These Regulations may be cited as the Capital Markets Authority (Investor Compensation Fund) Regulations, 2023.”
Primary legislation Source quotation matched
Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

1
  1. These Regulations may be cited as the Capital Markets Authority (Investor Compensation Fund) Regulations, 2023.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
2. Interpretation

In these Regulations, unless the context otherwise requires-

"Act" means the Capital Markets Authority Act, Cap. 84;

"Authority" means the Capital Markets Authority established by section 4 of the Act;

"Board" means the Board of Directors established by section 22E of the Act;

"Chief Executive Officer" means the Chief Executive Officer of the Authority appointed under section 7 of the Act;

"Fund" means the Investor Compensation Fund established by section 81 of the Act;

"General Fund" means the General Fund established by section 8 of the Act.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Definition

This section supplies the definitions or statutory meaning governing “Interpretation”.

“In these Regulations, unless the context otherwise requires-”
Primary legislation Source quotation matched
Practical effect

Use this definition when interpreting other provisions that employ the language addressed by “Interpretation”.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

6
  1. "Act" means the Capital Markets Authority Act, Cap. 84;
  2. "Authority" means the Capital Markets Authority established by section 4 of the Act;
  3. "Board" means the Board of Directors established by section 22E of the Act;
  4. "Chief Executive Officer" means the Chief Executive Officer of the Authority appointed under section 7 of the Act;
  5. "Fund" means the Investor Compensation Fund established by section 81 of the Act;
  6. "General Fund" means the General Fund established by section 8 of the Act.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions
Section 4 · Monies of the Fund Section 7 · Records Section 8 · Claim for compensation Capital Markets Authority Act
Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
3. Purpose of Fund

The purpose of the Fund is to compensate investors who suffer pecuniary loss resulting from the failure of a licenced broker or dealer to meet his or her contractual obligations.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Purpose of Fund”.

“The purpose of the Fund is to compensate investors who suffer pecuniary loss resulting from the failure of a licenced broker or dealer to meet his or her contractual obligations.”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Purpose of Fund”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history

Part II

4. Monies of the Fund
(1)

The Fund shall consist of monies received by the Authority from the following sources- (@) contributions by the Authority from the General Fund;

(b)

monies required to be paid into the compensation fund by licenced persons;

© monies paid under section 89 as ill-gotten gains where those harmed are not specifically identifiable;

@ monies accrued from interest and profits from investing monies from the compensation fund;

© monies received by the Authority by way of fines or penalty under section 99A of the Act;

® monies recovered by or on behalf of the Authority from entities whose failure to meet their obligations to investors results in payments from the compensation fund; and

@® monies received for purposes of the compensation fund from any other source approved by the Board.

(1)

_ the monies of the Fund may be invested by the Authority in a manner determined by the Authority.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Statutory power

This section confers or regulates the statutory power described as “Monies of the Fund”.

“(1) The Fund shall consist of monies received by the Authority from the following sources-”
Primary legislation Source quotation matched
Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

3
  1. (1) The Fund shall consist of monies received by the Authority from the following sources- (@) contributions by the Authority from the General Fund;
  2. (b) monies required to be paid into the compensation fund by licenced persons;
  3. (1) _ the monies of the Fund may be invested by the Authority in a manner determined by the Authority.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
5. Accounts
(1)

The Authority shall open and operate a separate account for the Fund.

(2)

The Authority shall not withdraw money from the account of the Fund except for purposes of-

(a)

paying compensation to investors; and

(b)

defraying expenses relating to the management and investment of the monies of the Fund.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Statutory power

This section confers or regulates the statutory power described as “Accounts”.

“(1) The Authority shall open and operate a separate account for the Fund.”
Primary legislation Source quotation matched
Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

4
  1. (1) The Authority shall open and operate a separate account for the Fund.
  2. (2) The Authority shall not withdraw money from the account of the Fund except for purposes of-
  3. (a) paying compensation to investors; and
  4. (b) defraying expenses relating to the management and investment of the monies of the Fund.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
6. Status reports

The Authority shall, on a quarterly basis, present to the Board a report on the status of the Fund.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Statutory power

This section confers or regulates the statutory power described as “Status reports”.

“The Authority shall, on a quarterly basis, present to the Board a report on the status of the Fund.”
Primary legislation Source quotation matched
Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

1
  1. The Authority shall, on a quarterly basis, present to the Board a report on the status of the Fund.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
7. Records

The Authority shall cause proper records in respect of the Fund to be kept and shall ensure-

(a)

that the records disclose with reasonable accuracy, the financial position of the Fund;

(b)

that the records explain in detail, all the transactions relating to the Fund; and

(c)

that the records are kept for a period of ten years from the date the records are generated or obtained.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Statutory power

This section confers or regulates the statutory power described as “Records”.

“The Authority shall cause proper records in respect of the Fund to be kept and shall ensure-”
Primary legislation Source quotation matched
Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

3
  1. (a) that the records disclose with reasonable accuracy, the financial position of the Fund;
  2. (b) that the records explain in detail, all the transactions relating to the Fund; and
  3. (c) that the records are kept for a period of ten years from the date the records are generated or obtained.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history

Part III

8. Claim for compensation
(1)

A claim for compensation out of the Fund shall be submitted to the Authority by an investor or a lawfully appointed representative of the investor, who has suffered pecuniary loss as a result of the failure of a licenced broker or dealer to meet his or her contractual obligations.

(2)

A person making a claim for compensation shall furnish the Authority with evidence of having made a claim against a licenced broker or dealer and that the broker or dealer has refused, failed or neglected to respond to that claim.

(3)

Acclaim for compensation shall contain-

(a)

the name, address, age in case of an individual and occupation of the investor;

(b)

particulars of the transaction in which the investor suffered loss, including-

(i)

_ the nature of the transaction;

(ii)

the amount of money involved in the transaction;

(c)

the particulars of the licenced broker or dealer;

(d)

the contract between the investor and the licenced broker or dealer; and © any other relevant information required by the Authority from the licenced broker or dealer,

9. Compensatory claims

Acclaim is compensatory if that claim-

(a)

relates to a properly documented transaction between an investor and a licenced broker or dealer;

(b)

_ has not been extinguished by operation of law; and

(c)

_hasnot been settled by another scheme or policy; including one operated by an approved securities exchange.

10. Time limitation
(1)

A claim for compensation shall be submitted to the Authority at least six months after an investor has submitted a claim to a licenced broker or dealer and the licenced broker or dealer has not met his or her contractual obligations.

(2)

Where a licenced broker or dealer is unable to meet his or her contractual obligations due to suspension or revocation of his or her licence by the Authority, the Authority shall publish a notice inviting members of the public to submit to the Authority any claims against a broker or dealer whose licence is revoked or suspended, within sixty days from the date of the notice.

(3)

The notice under sub regulation (2) shall be published in at least two newspapers of nationwide circulation.

(4)

The Authority shall only considear claim for compensation if it is brought within six years of the failure of the broker or dealer to pay the outstanding amount.

11. Waiver of time limitation

The Authority may, where an investor shows exceptional circumstances, allow the investor to submit a claim for compensation prior to or beyond the time referred to in Regulation

Part IV

12. Investigations
(1)

Where the Authority receives a claim, it shall investigate the claim to determine-

(a)

whether there has been a breach of contractual obligation by a licensed broker or dealer;

(b)

whether the investor has suffered loss;

(c)

whether the investor has been settled under any other scheme or policy; and

(d)

whether the investor is entitled to compensation.

(2)

Where the Authority has not received sufficient information from the investor to make a determination under subregulation (1), the Authority shall request the investor to submit further information as sufficient proof of the transaction between the licenced broker or dealer and the loss suffered by the investor.

(3)

The proof referred to in sub regulation (2) shall include-

(a)

contracts entered into with the licenced broker or dealer;

(b)

receipts for any monies paid to the licenced broker or dealer; and

(c)

any other relevant evidence.

(4)

The Authority shall conclude the investigations and make a determination within sixty days from the commencement of the investigations.

(5)

Where the Authority is unable to determine a claim within sixty days, it shall give notice to the investor stating the reasons for the delay in determining the claim.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Statutory power

This section confers or regulates the statutory power described as “Investigations”.

“(1) Where the Authority receives a claim, it shall investigate the claim to determine-”
Primary legislation Source quotation matched
Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

12
  1. (1) Where the Authority receives a claim, it shall investigate the claim to determine-
  2. (a) whether there has been a breach of contractual obligation by a licensed broker or dealer;
  3. (b) whether the investor has suffered loss;
  4. (c) whether the investor has been settled under any other scheme or policy; and
  5. (d) whether the investor is entitled to compensation.
  6. (2) Where the Authority has not received sufficient information from the investor to make a determination under subregulation (1), the Authority shall request the investor to submit further information as sufficient proof of the transaction between the licenced broker or dealer and the loss suffered by the investor.
  7. (3) The proof referred to in sub regulation (2) shall include-
  8. (a) contracts entered into with the licenced broker or dealer;

4 further items remain in the statutory text above.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
13. Summons to licenced broker or dealer
(1)

The Authority shall, in writing, require the licenced broker or dealer against whom a claim is made, to respond to the allegations in the claim within fourteen days of receipt of the letter.

(2)

Where a licenced broker or dealer fails to respond to the allegations in the claim within the time prescribed in subregulation (1), the Authority shall proceed to determine the merits of the claim in the absence of the licenced broker or dealer.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Statutory power

This section confers or regulates the statutory power described as “Summons to licenced broker or dealer”.

“(1) The Authority shall, in writing, require the licenced broker or dealer against whom a claim is made, to respond to the allegations in the claim within fourteen days of receipt of the letter.”
Primary legislation Source quotation matched
Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

2
  1. (1) The Authority shall, in writing, require the licenced broker or dealer against whom a claim is made, to respond to the allegations in the claim within fourteen days of receipt of the letter.
  2. (2) Where a licenced broker or dealer fails to respond to the allegations in the claim within the time prescribed in subregulation (1), the Authority shall proceed to determine the merits of the claim in the absence of the licenced broker or dealer.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
14. Payment of compensation
(1)

Where the Authority determines that there has been a default by a licenced broker or dealer in meeting his or her contractual obligations and that the investor is entitled to compensation, the Authority shall exercise its discretion to determine the amount of compensation payable to the investor, taking into account-

(a)

_ the loss suffered by the investor;

(b)

any attempts by the investor to recover the money from the licensed broker or dealer; and

(c)

_ the availability of funds in the Fund.

(2)

In determining the total amount of compensation to be paid to an investor, the Authority may combine separate claims for compensation or parts of those claims, where a claimant has more than one claim.

(3)

The Authority shall issue to the licenced broker or dealer against whom a claim is made, a notice of compensation payable to an investor, specifying the amount of compensation determined by the Authority.

(4)

The broker or dealer shall pay the amount of compensation determined by the Authority within fourteen days from the date of notification from the Authority failure of which, the Authority shall pay the investor from the Fund and shall recover the amount paid and any attendant costs from the broker or dealer without due recourse to court.

15. Authority of Board

Compensation shall not be paid to an investor without the approval of the Board of the Authority.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Statutory power

This section confers or regulates the statutory power described as “Authority of Board”.

“Compensation shall not be paid to an investor without the approval of the Board of the Authority.”
Primary legislation Source quotation matched
Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

1
  1. Compensation shall not be paid to an investor without the approval of the Board of the Authority.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history
16. Rejection of claim
(1)

The Authority may reject a claim for compensation, if the claim is found to be lacking in any material particular or where the investor refuses or neglects to provide sufficient information in respect of the claim to the Authority.

(2)

The Authority shall, before rejecting a claim for compensation, write to the claimant requesting for additional information where additional information is required.

17. Right of appeal

A person aggrieved by the decision of the Authority in relation to compensation under these Regulations, may, within thirty days after he or she is notified of a compensation under regulation 14 (3), appeal to the Capital Markets Tribunal.

SAUL SSEREMBA, Chairperson, Capital Markets Authority.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Procedural rule

This section establishes the governing procedure for “Right of appeal”.

“A person aggrieved by the decision of the Authority in relation to compensation under these Regulations, may, within thirty days after he or she is notified of a compensation under regulation 14 (3), appeal to the Capital Markets Tribunal.”
Primary legislation Source quotation matched
Practical effect

A litigant should address this rule at the procedural stage named in the section and preserve evidence of compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

1
  1. A person aggrieved by the decision of the Authority in relation to compensation under these Regulations, may, within thirty days after he or she is notified of a compensation under regulation 14 (3), appeal to the Capital Markets Tribunal.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history

Original Laws of Uganda consolidation (as at 29 September 2023) — public-domain legislation, consolidated by ULII / Laws.Africa (CC BY 4.0). This is a point-in-time text and may not reflect later amendments; confirm against the latest Uganda Gazette before relying on it.