1.10.1
The order of precedence of the following instruments applicable to the CDP and Clearing Members shall be (in descending order of precedence):
(1) Legislation;
(2) these Clearing Rules (excluding Directives, Regulatory Notices and Circulars);
(3) Directives;
(3A) Regulatory Notices;
(4) Circulars;
(5) terms and conditions governing the operations, facilities and services provided by CDP; and
(6) Practice Notes.
Amended on 26 April 201326 April 2013 and 10 December 201810 December 2018.
1.10.2
Subject to Rule 1.7.1, in the event of any conflict between the provisions of the aforesaid instruments, the provisions in an instrument with a higher level of precedence shall prevail over the provisions in an instrument with a lower level of precedence.
Added on 26 April 201326 April 2013