Section 46

A holder of a capital markets services licence must comply with the following obligations to safeguard client's assets 205

{a}

niaintain such records and accounts as are necessary to enable them at any time and without delay to distinguish assets held for one client from assets held for other clients, and from their own money and other assets and ensure that such records and accounts are sufficient to reconstruct all transactions undertaken on behalf of any client;

{b}

maintain their records and accounts in a way that ensures their accuracy, and in particular, the correspondence of the records and accounts to the securities held by clients;

{c}

ensure that records and accounts referred to in paragraphs {a} and