274. The object of the fund is to administer the sums of money deposited with it to compensate the victims of fraud, fraudulent tactics or embezzlement for which a firm, an independent representative or an independent partnership, is responsible.
For such purpose, the fund shall, in accordance with the rules determined by regulation,
(1) administer the moneys deposited with the fund;
(2) determine whether the claims presented to the fund are eligible, and the amount of compensation to be paid.
Expenses required for the operation of the fund are authorized by the fund.