Subject to Rule 7.8.2 and unless otherwise provided in the Clearing Rules or as determined by CDP, the Clearing Fund may be applied in the manner set out in Rule 7.9, to meet any losses, costs or expenses incurred by CDP arising from or in connection with an Event of Default, whether such losses, costs or expenses are incurred before or after the Event of Default has been declared.

Amended on 23 January 200923 January 2009, 21 January 201321 January 2013, 6 September 2021 and 26 May 2023.

CDP shall apply the Clearing Fund in respect of an Event of Default only after the Defaulting Clearing Member's Collateral deposited with or provided to CDP has been fully applied, in accordance with Rule 8.6B, to satisfy the obligations of the Clearing Member to CDP.

Added on 21 January 201321 January 2013. and amended on 26 May 2023.