7A.01.1

Past version: Effective from 07 Aug 2012 to 25 Apr 2013

The Clearing House shall be entitled to restrict the activities of the Clearing Member on the Clearing House or suspend the Clearing Member without prior notice if:

7A.01.1.1 the Clearing Member becomes insolvent or is deemed insolvent;
7A.01.1.2 unless exempted, ceases to hold a valid capital markets services licence as prescribed under the SFA, or ceases to be authorised to conduct banking business in Singapore pursuant to section 4 of the Banking Act, where applicable;
7A.01.1.3 the Clearing House is of the opinion that the integrity of the Clearing Member, in relation to its financial integrity or conduct, or the Clearing House's ability to operate a safe and efficient clearing facility is, or may be, materially compromised in any of the following events:
a. the parent company or related corporation of the Clearing Member becomes insolvent or is deemed insolvent;
b. the Clearing Member is suspended or expelled from membership of any Relevant Market or its clearing house;
c. the Clearing Member fails to comply with or settle any of its financial obligations under the rules and regulations of any exchange or clearing house of which it is a member; or
d. the Clearing Member fails duly to perform or is, in the opinion of the Clearing House, in breach of:
i. any provision of this Rules;
ii. any Directive which is in force from time to time; or
iii. any agreement, understanding or arrangement which the Clearing Member has with the Clearing House from time to time.

Added on 7 August 20127 August 2012.