7A.01.1

The Clearing House shall be entitled to restrict the activities of the Clearing Member on the Clearing House or suspend the Clearing Member without prior notice if:

7A.01.1.1 the Clearing Member becomes insolvent or is deemed insolvent;
7A.01.1.2 unless exempted, the Clearing Member ceases to hold a valid Capital Markets Services Licence as prescribed under the SFA, or ceases to be authorised to conduct banking business in Singapore pursuant to section 4 of the Banking Act 1970, where applicable;
7A.01.1.3 the Clearing House is of the opinion that the integrity of the Clearing Member, in relation to its financial integrity or conduct, or the Clearing House's ability to operate a safe and efficient clearing facility is, or may be, materially compromised in any of the following events:
a. the parent company or related corporation of the Clearing Member becomes insolvent or is deemed insolvent;
b. the Clearing Member is suspended or expelled from membership of any Relevant Market or its clearing house;
c. the Clearing Member fails to comply with or settle any of its financial obligations under the rules and regulations of any exchange or clearing house of which it is a member;
d. the Clearing Member fails duly to perform or is, in the opinion of the Clearing House, in breach of:
i. any provision of this Rules;
ii. any Directive which is in force from time to time; or
iii. any agreement, understanding or arrangement which the Clearing Member has with the Clearing House from time to time; or
7A.01.1.4 the Clearing House, in its absolute discretion, considers it necessary or desirable to protect its own interests, the interests of other Clearing Members and/or the interests of the customers of the Clearing Member.

Added on 7 August 20127 August 2012 and amended on 26 April 201326 April 2013, 29 December 201429 December 2014, 18 January 2022 and 29 July 2022.