2.11.3 Qualifying Subordinated Loans
220.127.116.11 Each Clearing Member incorporated in Singapore, shall immediately notify the Clearing House when it draws down a qualifying subordinated loan no later than the date of draw down.
18.104.22.168 A Clearing Member incorporated in Singapore:—
a. shall not repay, whether in part or in full, any subordinated loan principal before the maturity date without the prior approval of the Clearing House;
b. shall not repay, whether in part or in full, any subordinated loan principal that has matured:—
i. unless the Clearing Member notifies the Clearing House at least one (1) Business Day before the date of repayment;
ii. if the financial resources (including qualifying letters of credit referred to in Rule 2.07C) of the Clearing Member, are less than 150% of its total risk requirement;
iii. in the case of a General Clearing Member or Direct Clearing Member, if the aggregate indebtedness of the General Clearing Member or Direct Clearing Member exceeds 600% of its aggregate resources;
iv. if such a repayment will cause an event in Rules 22.214.171.124.b.ii or iii to occur; or
v. if the Clearing House has prohibited in writing such a repayment.