| |
| COMMODITY EXCHANGE COMPENSATION FUND FINANCIAL STATEMENTS |
| ...................................................................................................................... |
| |
| |
| Commodity Exchange Compensation Fund |
| Balance Sheet |
| At 31st March 1998 (Expressed in Hong Kong Dollars) |
| |
| |
| l.................................................................................................................................................... |
| Investments |
3&4 |
$ 51,073,138 |
|
$ 32,029,228 |
|
| |
|
......................... |
|
......................... |
|
| Current assets |
|
|
|
|
|
| Investments |
3&4 |
$ 8,005,909 |
|
$ 18,000,521 |
|
| Interest receivable |
|
457,002 |
|
456,518 |
|
| Levy receivable |
|
655,925 |
|
563,562 |
|
| Bank fixed and call deposits |
|
7,877,183 |
|
3,970,412 |
|
| Cash at bank |
|
42,513 |
|
57,097 |
|
| |
|
|
|
|
|
| |
|
$ 17,038,532 |
|
$ 23,048,110 |
|
| |
|
......................... |
|
......................... |
|
| Liabilities |
|
|
|
|
|
| Accounts payable and accrued charges |
|
$ 240,208 |
|
$ 241,838 |
|
| Provision for compensation |
7 |
-- |
|
2,541,175 |
|
| |
|
|
|
|
|
| |
|
$ 240,208 |
|
$ 2,783,013 |
|
| |
|
......................... |
|
......................... |
|
| Net current assets |
|
$ 16,798,324 |
|
$ 20,265,097 |
|
| |
|
......................... |
|
......................... |
|
| Net assets |
|
$ 67,871,462 |
|
$ 52,294,325 |
|
| |
|
=========== |
|
=========== |
|
| |
|
|
|
|
|
| Representing: |
|
|
|
|
|
| COMPENSATION FUND |
|
|
|
|
|
| Contributions to the Fund received on |
|
|
|
|
|
| and after 23rd August 1985 |
5 |
$ 21,000,000 |
|
$ 20,600,000 |
|
| Contract levy |
3 |
38,253,242 |
|
29,827,902 |
|
| Transfer from income and expenditure account |
6 |
17,494,673 |
|
13,371,819 |
|
| |
|
|
|
|
|
| |
|
$ 76,747,915 |
|
$ 63,799,721 |
|
| Deduct: Compensation paid |
|
(20,463,745 |
) |
(20,463,745 |
) |
| Provision for compensation |
7 |
-- |
|
(2,541,175 |
) |
| Add: Recovery under subrogation |
3&8 |
11,587,292 |
|
11,499,524 |
|
| |
|
|
|
|
|
| |
|
$ 67,871,462 |
|
$ 52,294,325 |
|
| |
|
=========== |
|
=========== |
|
| |
| Approved by the Futures Compensation Fund Committee on behalf of the Securities and Futures Commission on 11th June 1998 and signed on its behalf by |
| |
| |
| David J White |
Roderick E D Chalmers |
Robert Gilmore |
| Chairman |
Committee Member |
Committee Member |
| |
| |
| The notes on pages 89 to 91 form an integral part of the financial statements |
| |
|
