Whole Section

  • 1.10 Order of Precedence

    • 1.10.1

      The order of precedence of the following instruments applicable to the CDP and Clearing Members shall be (in descending order of precedence):

      (1) Legislation;
      (2) these Clearing Rules (excluding Directives, Regulatory Notices and Circulars);
      (3) Directives;
      (3A) Regulatory Notices;
      (4) Circulars;
      (5) terms and conditions governing the operations, facilities and services provided by CDP; and
      (6) Practice Notes.

      Amended on 26 April 201326 April 2013 and 10 December 201810 December 2018.

    • 1.10.2

      Subject to Rule 1.7.1, in the event of any conflict between the provisions of the aforesaid instruments, the provisions in an instrument with a higher level of precedence shall prevail over the provisions in an instrument with a lower level of precedence.

      Added on 26 April 201326 April 2013