Bahrain Bourse (BHB) Material: Contents

Bahrain Bourse (BHB) Material
BHB Clearing, Settlement & Central Depository & Registry Rules
Resolution No. (3) for the Year 2000 with Respect to the Clearing, Settlement, Depository and Registry Rules
Article 26 Sufficient Cause for the Limitation of Activities
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Article 26 Sufficient Cause for the Limitation of Activities

26.1 The BSE may at any time, suspend or limit the activities, functions or operations of a Participant, or any service provided by the BSE, either with respect to a particular transaction, or transactions in general, in the event that:
26.1.1 The Participant has failed to make timely payment of net money obligations, or any other amount payable to the BSE;
26.1.2 The BSE has determined that the Participant no longer meets the financial, operational or technical qualifications prescribed in the Internal Regulations, or any other rules, or has materially violated any agreement with the BSE;
26.1.3 The CSU has reasonable grounds to believe that the Participant is in financial difficulty, or will otherwise be unable to meet his obligations towards the BSE, or other Participants;
26.1.4 The Participant has been suspended from trading services or his membership at the BSE has been terminated.
26.2 If the BSE ceases to provide its services to a Participant pursuant to this Article, it may either eliminate the operations and all pending transactions to which such a Participant is a party, or allow him to complete such pending transactions. If the BSE eliminates the pending transactions from its operations, such transactions shall be completed by such Participant directly with the other Participants.
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