8. FUND FOR PROTECTION AGAINST ERRORS
8.1. In
order to compensate the damage resulting from errors in the operations of
the Depository and failure to undertake appropriate measures for protection
and storage of the data in the
Depository, a Fund for compensation of damage to the securities holders and
participants in the operations of the Depository shall be founded.
8.2. The Fund
shall be financed from the regular revenues from the operations of the
Depository.
8.3. By
decision of the Assembly, the Depository shall determine the amount of funds
from its revenues, which the Depository shall place into the Fund for
protection against errors.
8.4. The Fund
shall mainly compensate the damage caused by technical errors of the
Depository, fall or defect of the computer system, database errors,
technical errors in the settlement procedure and the like.
8.5. The
compensation referred to in the previous item, upon request of the damaged
participants in the operations of the Depository, shall be determined by a
Commission established by the Depository.
If a complaint is
lodged against the decision of the Commission, it shall be decided on by the
Board of Directors of the Depository.
8.6. The manner and procedure for the compensation of damage caused by errors in the operations of the Depository shall be regulated with special guidelines of the Depository.
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