4.28.2
All cheques to customers must be crossed, unless:
(a) the payee customer requests otherwise in writing; and
(b) a senior management staff (or his delegate) of a Trading Member who is independent of sales or dealing, or a senior management staff (or his delegate) of a related corporation of that Trading Member charged with the payment function, authorises the request in writing.
Added on 3 June 20193 June 2019.
4.28.3
A Trading Member must not accept a house cheque (a crossed cheque issued by the Trading Member in favour of a customer) from a customer unless:
(a) the customer is the payee of the cheque; and
(b) the cheque is used to settle an amount owing by the customer to the Trading Member or is deposited into a trust account under Rule 4.31, as directed by the customer.
Added on 3 June 20193 June 2019.