Amended on 21 January 201321 January 2013.
8.6B.1
Without prejudice and subject to the other provisions of these Clearing Rules, in particular Rule 7.9.1:
Added on 23 January 200923 January 2009 and amended on 21 January 201321 January 2013 and 26 May 2023.
8.6B.1A
In exercising its powers under Rule 8.6B.1, CDP may liquidate any non-cash Collateral deposited with it by a Clearing Member. Such Clearing Member shall be liable to CDP for any costs and expenses incurred in connection with the liquidation. CDP shall not be liable for any losses to any person arising from such liquidation.
8.6B.2
The Clearing Member shall not take any action or do anything that will directly or indirectly interfere with, prohibit, restrict or inhibit the ability of CDP to so apply such contributions to the Clearing Fund, margins or other Collateral and CDP shall, except where it has acted in bad faith, be under no liability to the Clearing Member or any other person whatsoever in so applying such contributions to the Clearing Fund, margins or other Collateral and the Clearing Member shall fully indemnify and keep indemnified CDP and hold CDP harmless against any such liability.
Added on 23 January 200923 January 2009 and amended on 21 January 201321 January 2013 and 26 May 2023.
8.6B.3
Where the Clearing Member has failed to settle its financial obligations to SGX-DC, CDP shall be entitled to retain any Collateral deposited or provided by the Clearing Member which have not been utilised pursuant to this Rule 8.6B, except where such Collateral were deposited with or provided to CDP solely in relation to Customer Accounts.
Added on 21 January 201321 January 2013 and amended on 22 April 201322 April 2013.