Past version: Effective from 22 Apr 2013 to 05 Sep 2021
If a customer in respect of any New Purchase Contract or New Sale Contract is indebted to the Defaulting Clearing Member, the customer agrees that CDP shall be entitled to:
(1) withhold the amount or part thereof due from CDP to the customer pursuant to Rule 8 in satisfaction or part satisfaction of such customer's debt to the Defaulting Clearing Member; and
(2) at any time as CDP may determine, treat such withheld amount as assets of the Defaulting Clearing Member subject to such rights and remedies of CDP under these Clearing Rules.
Added on 22 April 201322 April 2013.