Amended on 15 September 201715 September 2017.
2.34.1
Without prejudice to Rule 1.01.2, if the Clearing House determines that one (1) of the following conditions is satisfied, namely:—
then:—
Amended on 27 March 200627 March 2006 and 26 April 201326 April 2013.
2.34.1A
If a Clearing Member has been found guilty of a rule violation or is found to have a record of frequent rule violations and inadequate management, which in the opinion of the Clearing House, places or may place the Clearing House at risk or the financial condition of such Clearing Member is such that it jeopardizes or may jeopardize the integrity of the Clearing House, the Clearing House may carry out one (1) or more of the following against the Clearing Member:—
Added on 27 March 200627 March 2006 and amended on 8 October 20188 October 2018.
2.34.1B
If the Clearing House determines that an emergency exists which threatens the financial integrity of the Clearing House or any of the Clearing Members, it may take any of the actions referred to at Rules 2.34.1A.1 to 2.34.1A.6 and/or order special or advance margins or funds to be deposited with the Clearing House from all or any Clearing Member(s) or from Clearing Members having cleared particular long, and/or short contracts which remain open.
As soon as practicable, the Authority shall be notified of such actions. Nothing in this Rule 2.34 shall in any way limit the authority of the Clearing House, SGX RegCo or any other committee or person or entity referred to under Rule 1.01.8 to act in an emergency situation in accordance with this Rules.
Amended on 15 September 201715 September 2017 and 3 June 20193 June 2019.
2.34.2
If the Clearing House determines in accordance with this Rules that an excessive position or unwarranted speculation or any other undesirable situation or practice is developing or has developed which is affecting or capable of affecting a market in a Commodity or any Contract, the Clearing House:
Amended on 26 April 201326 April 2013.
2.34.3
Without prejudice to the generality of Chapter 1, the Clearing House, its related corporations, SGX RegCo, any person or entity referred to under Rule 1.01.8, and their respective directors, officers, employees, representatives and agents shall not be liable to any Clearing Member or any Third Party in respect of any damage, loss, cost or expense of whatsoever nature (whether direct, indirect, special or consequential, including without limitation any loss of business, revenue, goodwill, bargain or profit), suffered or incurred by such Clearing Member or Third Party, arising out of or in connection with, or arising out of or in connection with any thing done or not done as a direct or indirect consequence of, the exercise or non-exercise of powers under Rule 2.34 or the determination of the satisfaction or non-satisfaction of any condition for the exercise of such powers.
Added on 26 April 201326 April 2013 and amended on 15 September 201715 September 2017 and 3 June 20193 June 2019.