Whole Section

  • Chapter 10 Transitional Provisions

    • 10.1 Transitional Provisions for Capital and Financial Requirements

      • 10.1.2 Transitional Arrangements

        Rules 2.07C.1, 2.08C.1, 2.11, and 9.01.1 (as amended on and in force from 29 December 2014), except for the definition of Base Capital, shall not apply to a Transitional Clearing Member during the Transitional Period, and the aforesaid Rules as in force immediately before 29 December 2014 shall continue to apply to a Transitional Clearing Member during the Transitional Period. A reference to any provision of the SFR (Financial and Margin Requirements) the aforesaid Rules as in force immediately before 29 December 2014 is to that provision in the SFR (Financial and Margin Requirements) as in force immediately before 3 April 2013. For avoidance of doubt, the definition of Base Capital applicable to a Transitional Clearing Member has the same meaning ascribed in the SFR(Financial and Margin Requirements) as in force on 3 April 2013.

        Added on 29 December 201429 December 2014.

      • 10.1.3 Transitional Period

        For the purposes of this Chapter, "Transitional Period" means the period commencing on 3 April 2013 and:—

        10.1.3.1 in relation to all rule amendments except the definition of Base Capital, till 2 April 2015; or
        10.1.3.2 ending on such date, before the expiry date stated in Rule 10.1.3.1, specified in a written notice to SGX-DC informing SGX-DC of the Transitional Clearing Member's intention to adopt the requirements pursuant to Rule 10.1.4,

        whichever is the earlier.

        Added on 29 December 201429 December 2014.

      • 10.1.4 Notification by Writing

        For the purpose of Rule 10.1.3.2, the Transitional Clearing Member shall notify SGX-DC in writing at least 14 days before the intended date to adopt the requirements.

        Added on 29 December 201429 December 2014.

      • 10.1.5 Transitional Clearing Member

        "Transitional Clearing Member" means

        10.1.5.1 in the case of a Clearing Member who is a holder of the Capital Markets Services Licence, is a "specified holder" as defined under Regulation 25 of the Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) (Amendment) Regulations 2013 or a "new holder" as defined under Regulation 26 of the Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) (Amendment) Regulations 2013
        10.1.5.2 in the case of a Clearing Member who is not a holder of the Capital Markets Services Licence, is an existing Clearing Member prior to 3 April 2013 or one who applied to be a Clearing Member prior to 3 April 2013.

        Added on 29 December 201429 December 2014.