Past version: Effective up to 28 Jul 2013
In respect of all defaults declared by the Clearing House, which occurrence takes place at or after such time that the Clearing House receives a Clearing Member's notice of resignation and before its effective date of resignation (such period being hereafter referred to as the "Notice Period"), the following shall apply:
2.28.2A.1 the Clearing House shall apply the resigning Clearing Member's Security Deposit and Further Assessment Amount in accordance with Rule 7A.06.5.2, except that the aggregate amount applied in respect of all such defaults shall be subject always to a limit of no more than two (2) times of the resigning Clearing Member's Security Deposit requirement and Further Assessment Amount as at the time the Clearing House receives its notice of resignation; and
2.28.2A.2 subject always to Rule 7A.02.1.5.c, the resigning Clearing Member shall not be assigned and transferred residual OTCF Contracts in respect of more than two (2) defaults occurring within the Notice Period.
This Rule 2.28.2A shall apply provided always that the Clearing Member complies with Rule 2.28.2B.
Added on 7 August 20127 August 2012.