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CDP Depository Rules
10 Termination
Future version: Effective from 15 Jul 2026

The Depository may restrict and/or impose conditions on the activities of, or terminate any Depository Agent immediately and without any prior notice upon the occurrence of any of the following events:

10.1.1 [Rule has been deleted.]

10.1.2 the Depository Agent, or where it is a nominee company, the Regulated Entity for which it provides custodial services, is, in the Depository’s opinion, in financial or operating difficulty, including but not limited to where the Depository Agent or the Regulated Entity:

(a) is in voluntary liquidation otherwise than for the purpose of reconstruction or amalgamation approved by the Depository, or an Order of Court has been made for its compulsory liquidation;
(b) has entered into any composition or arrangement with its creditors;
(c) has a receiver or judicial manager or similar officer appointed over the whole or any part of its undertaking or its properties, revenues or assets;
(d) has had any distress or execution levied or enforced upon or sued out against any of its chattels or property;

10.1.3 the Depository Agent at any time breaches or fails to continue to satisfy any admission criteria, any approval condition imposed by the Depository, or any term, condition or restriction under the Depository Agent Terms;

10.1.4 an Event of Default as set out in the CDP Clearing Rules has occurred in respect of a Depository Agent who is also a Clearing Member;

10.1.5 the Depository Agent or the Regulated Entity for which it provides custodial services has been charged with or is the subject of investigation for any offence:

(a) under the Securities and Futures Act;
(b) involving fraud or dishonesty, whether in or out of Singapore;
(c) relating to director’s duties; or
(d) under any relevant law or regulation that governs that person’s other business activities;

10.1.6 the Depository Agent is, in the Depository’s opinion, conducting its activities in a manner detrimental to the financial integrity, reputation or interests of the Depository; or

10.1.7 it is necessary or desirable in the interests of:

(a) ensuring a safe and efficient settlement facility;
(b) ensuring the integrity of the market;
(c) the proper management of systemic risk;
(d) investor protection;
(e) ensuring the proper operation of the Central Depository System, including the deposit or withdrawal of securities, maintenance of accounts, verification of the accuracy of the Depository Register or transfer of securities by the Depository; and
(f) complying with any authority’s directions.

Amended on 15 July 2026.