1.02 Regard to be had to Purpose or Object of Rules
The Clearing House may from time to time issue, without limitation, Directives, Practice Notes and Circulars to provide guidance on the interpretation or application of this Rules.
Directives, Practice Notes and Circulars may only be used in the manner and for such purposes as expressly contemplated under this Rules. "Directives" are binding notices directing Clearing Members to take corrective or other actions in the interests of a safe and efficient clearing facility or in light of investor protection concerns; "Practice Notes" are non-binding guidelines that seek to explain the application and interpretation of a Rule; "Circulars" are binding notices issued by the Clearing House regarding regulatory and non-regulatory matters pertaining to Clearing Members.
In the interpretation of any provision of this Rules, a construction that would promote the purpose or object underlying this Rules (whether the purpose is expressly stated in this Rules or not) is to be preferred to a construction that would not promote that purpose or object.