(1) A Clearing Member shall promptly submit to CDP and/or such party as directed by CDP such information, electronic records, returns or documents as and when such information, electronic records, returns or documents are required by CDP, provided that any information, electronic records, returns or documents shall be deemed not to have been duly submitted if it contains materially untrue statements or omits material statements or is otherwise misleading. Where any information, electronic records, returns or documents are deemed not to have been duly submitted, the Clearing Member shall promptly resubmit the same upon notice from CDP. For the avoidance of doubt, reference to "information, electronic records, returns or documents" in relation to a Bank Clearing Member, shall refer to such information, electronic records, returns or documents falling within the Bank Clearing Member's business governed by this Clearing Rules.

(2) CDP may impose such fine on the Clearing Member as prescribed from time to time in the Clearing Directives for late submission of any information, electronic records, returns or documents that are required by CDP pursuant to Rule 3.5.2(1).