Whole Section

  • 11.11 Fine

    • 11.11.1

      A fine shall be paid within 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.

    • 11.11.2

      If a fine remains unpaid 7 days after the deadline, the Clearing Member's clearing rights is suspended. The suspension ends upon full payment of the fine.

    • 11.11.3

      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 CDP. CDP may commence legal action to recover that debt, subject to any subsequent payments made by the Clearing Member. CDP 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.