Rulebooks: Contents

Rulebooks
Mainboard Rules
Catalist Rules
SGX-ST Rules
CDP Clearing Rules
DVP Rules
CDP Depository Rules
1 Application
2 Admission Criteria for Depository Agents
3 Resignation by Depository Agent
4 Deposit and Withdrawal of Securities
5 Securities Account
6 Duties of Depository Agents
7 Transactions and Confirmation Notes
8 Sub-Accounts
9 Undertakings of the Depository Agent
10 Termination
11 Fees and Expenses
12 Violation of CDP Rules
13 Liability
13.3 No Liability
14 Indemnity
15 General
16 Applicable Law
17 Definitions and Interpretation
Futures Trading Rules
SGX-DC Clearing Rules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Rule Amendments

  Versions
(2 versions)
 
Up to Sep 14 2017Sep 15 2017 onwards

13.3 No Liability

A Relevant Person shall not be responsible for any loss or damage suffered by the Depositors as a result of or in connection with the performance or non-performance by any Relevant Person of its duties unless the same results from an act of negligence or fraud on the part of that Relevant Person; in which event the Depository shall promptly replace any Deposited Securities which have been lost, stolen or destroyed. Where such replacement of lost, stolen or destroyed Deposited Securities is not possible, the collective liability of the Relevant Persons in connection with any Deposited Securities shall not exceed the lower of the market value of the Deposited Securities to which such loss or damage relates at the time of discovery of such negligence or fraud or at the time of proposed replacement.

In no event shall any Relevant Person be responsible for any loss or damage suffered by a Sub-Account Holder as a result of the Depository performing its duties to a Depository Agent under these CDP Rules.

Amended on 15 September 2017.