Whole Section

  • 4.08A Fine

    • 4.08A.1

      A fine must be paid within fourteen (14) days from the date of notice, or such longer time as the chairman of the Disciplinary Committee or the Appeals Committee (as applicable), or his nominee, permits.

      Added on 27 March 200627 March 2006.

    • 4.08A.2

      If the fine remains unpaid after the deadline, the Clearing Member's access to the clearing system established and maintained by the Clearing House may be suspended. The suspension ends upon full payment of the fine.

      Added on 27 March 200627 March 2006.

    • 4.08A.3

      Where a fine has been imposed against a Clearing Member and the Clearing Member does not make payment within the specified period, the outstanding sum shall be a debt payable to the Clearing House. The Clearing House may commence legal action to recover that debt, subject to any subsequent payments made by the Clearing Member. The Clearing House shall be entitled to claim reasonable interest, a month after the payment is due, based on the sum outstanding.

      Added on 3 June 20193 June 2019.