S.L. 370.9 ст. 3Establishment of the Investor Compensation Scheme.

(1) There shall be established an Investor Compensation Scheme.

(2) The Scheme shall be a body corporate having a distinct legal personality and shall be capable, subject to the provisions of the Act and of these regulations, of entering into contracts of borrowing or otherwise incurring indebtedness for the purposes of its functions, of acquiring, holding and disposing of any kind of property for the purposes of its functions, of suing or being sued and of doing all such things and entering into all such transactions as are incidental or conducive to the exercise or performance of its functions.

(3) The Scheme shall be managed and administered by and be under the general control of the Management Committee appointed in terms of regulation 5.

(4) The legal and judicial representation of the Scheme shall vest in the chairperson of the Management Committee: Provided that, and without prejudice to the foregoing, the Management Committee may vest any one or more of its members or of the officers or agents of the Scheme with legal or judicial representation.

(5) For the purpose of enabling the Scheme and the competent authority to carry out their respective functions, the Scheme and the competent authority may share and exchange information, and shall otherwise consult and collaborate with one another.