7.14.1
If the recap ledger of any Clearing Member shows a Net Debit Balance against such Clearing Member:
Violation of this Rule may constitute a major offence.
Added on 3 November 20103 November 2010 and amended on 26 April 201326 April 2013.
7.14.2
If the recap ledger of any Clearing Member shows a Net Credit Balance in favour of such Clearing Member payment of such Net Credit Balance shall be effected at the Confirmation Cut Off Time, by the Clearing House crediting the Net Credit Balance directly to the Clearing Member's cash margin held with the Clearing House. Such crediting shall constitute final and irrevocable settlement of the Clearing House's obligation to pay such Net Credit Balance to the Clearing Member.
Added on 3 November 20103 November 2010 amended on 26 April 201326 April 2013.
7.14.3
"Confirmation Cut Off Time", in relation to the Net Debit Balance or the Net Credit Balance shown in the recap ledger of any Clearing Member shall, for the purposes of this Rule 7.14, mean the cut-off time for Confirmation in respect of any margin call that may be made in that recap ledger, as notified by the Clearing House to Clearing Members.
Added on 26 April 201326 April 2013.