Section 194

(1)

A holder of a capital markets services licence shall establish and keep in a licensed financial institution one or more trust accounts designated or evidenced as such into which he shall pay -

{a} all amounts, less any brokerage and other proper charges, that are received from or on account of any person, other than a holder of a capital markets services licence, for the purchase of securities and that are not attributable to securities delivered to a .holder of a capital markets services licence not later than the next banking business day or such other date as may be specified by the Authority on which they were received by that holder; and

{b)

all amounts, less any brokerage and other proper charges, that are received for or on account of any person, other than a holder of a capital markets services licence, from the sale of securities and that are not paid to that person or as that person directs not later than the next banking business day or such other date as may be specified by the Authority on which they were receivep by that person.