SGX Rulebooks
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Past version: Effective from 17 Jul 2019 to 30 Oct 2024

If a resigning Clearing Member breaches Rule 2.28.2B at any time during the Notice Period, Rule 2.28.2A.1 shall not apply to such Clearing Member in their entirety and instead the following shall apply:

2.28.2C.1 such Clearing Member shall have all the obligations under this Rules of a non-resigning Clearing Member in respect of all events of default under Rule 7A.01A.1 occurring during the Notice Period; and
2.28.2C.2 if, due to the operation of Rule 2.28.2A.1, any amount of such Clearing Member's:
a. Clearing Fund Deposit requirement; or
b. Further Assessment Amount; or
c. both,
has not been used and applied by the Clearing House in accordance with Rules 7A.01A.2B and 7A.01A.2D, the Clearing House shall have the authority to call for and apply such amount as if the assessment had been utilised in the first instance in accordance with Rules 7A.01A.2B and 7A.01A.2D.

Added on 7 August 20127 August 2012 and amended on 29 July 201329 July 2013, 30 June 201430 June 2014, 12 November 201812 November 2018 and 17 July 201917 July 2019.