Bahrain Bourse (BHB) Material: Contents

Bahrain Bourse (BHB) Material
BHB Guarantee Contribution Fund Resolution
Article (15) Replenishment of the Guarantee Fund by Other Participants
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Article (15) Replenishment of the Guarantee Fund by Other Participants

15.1 If by 09:00 hours on T+7 the CSU has established that the Participant failed to pay the difference referred to in sub-Article (14.5) above, and ascertained the exhaustion of the Guarantee Fund amount, the BSE shall immediately request all Participants to replenish the Guarantee Fund account and instruct the Settlement Bank to credit the Guarantee Fund account for such amounts.
15.2 The CSU shall determine the amount of the individual Participant's remittance referred to in sub-Article (15.1) hereof, in accordance with the following formula:

Net total (remaining) value
Number of Participants - Number of failed Participants
15.3 Immediately after the calculation of the amounts of remittance, the CSU shall send to all Participants a written notice specifying the individual amount of payment and the method of calculation. Participants shall instruct the Settlement Bank to credit the Guarantee Fund account with such amounts not less than the next business day after the receipt of such notice.
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