"relevant person", in relation to a securities exchange, means a member of the securities exchange:

(a)

who has made 20 or more annual payments of the levy referred to in subsection 902(2); and

(b)

in respect of whom a payment from the fund has not been made or, if such a payment has been made, has been repaid to the fund.

(3) Where the amount in a fidelity fund of a securities exchange exceeds $2,000,000 or such lesser amount as is prescribed, the following paragraphs apply in relation to relevant persons who are natural persons:

(a)

on the retirement from business of such a relevant person, the board may, in its discretion, pay to that person an amount determined in accordance with subsection (5);

(b)

on the death of such a relevant person without any payment having been made to that person under paragraph (a), the board may, in its discretion, pay an amount determined in accordance with subsection (5) to his or her personal representative or to any person who was wholly or partly dependent on the relevant person at the time of his or her death.

(4) Where the amount in a fidelity fund of a securities exchange exceeds $2,000,000 or such lesser amount as is prescribed, the board may, in its discretion, pay to a relevant person, being a body corporate, that ceases to be a member of the securities exchange an amount determined in accordance with subsection (5). (5) The amount that may, under subsection (3) or (4), be paid out of a fidelity fund to or in respect of a relevant person is the total amount of the annual payments made by the relevant person of the levy referred to in subsection 902(2) or such proportion of that amount as is for the time being determined by the board either generally or in relation to the particular relevant person, either with or without simple interest at a rate not exceeding 3% per annum. (6) A determination of the board under subsection (5) must be in writing and may be in respect of any person or any class of persons. (7) The securities exchange may, by written notice published in the "Gazette":

(a)

suspend the operation of paragraph (3)(a) or (b); or

(b)

revoke any such suspension;