Bahrain Bourse (BHB) Material: Contents

Bahrain Bourse (BHB) Material
BHB Guarantee Contribution Fund Resolution
Article (18) Termination of BSE Services
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Article (18) Termination of BSE Services

18.1 The BSE may terminate forthwith its trading, clearing and settlement services to individual Participants, if the Participant:
18.1.1 By 09:30 hours on Settlement Day (T+2) fails to pay the required amount of his net to pay amount to the BSE's clearing account with the Settlement Bank.
18.1.2 Fails to pay his basic contribution and additional contribution to the Guarantee Fund account within five (5) days after receipt of the BSE's request through the CSU.
18.1.3 Fails to remit the outstanding amount for replenishment of the Guarantee Fund account, pursuant to Article (14) of this Resolution.
18.2 In the event that the BSE terminates its services to a Participant according to sub-Article (18.1) above, the CSU shall return to the Participant his contribution to the Guarantee Fund and any accrued interest on his contribution within fifteen (15) days from the date of termination of the BSE's services to the Participant, provided that such a Participant has satisfied all his obligations to the BSE and the Settlement Bank.
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