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CSD-2.9.1

In line with Articles 108 and 109 of the CBB Law and Resolution No (44) of 2014 with respect to promulgating a Regulation for Close-out Netting under a Market Contract, none of the following shall be regarded as to any extent invalid under the law on the grounds of inconsistency with the law relating to distribution of the assets of a personG on insolvency, bankruptcy or winding up, or on the appointment of a receiver over any of the assets of a personG :

(a) A market contractG ;
(b) The rules of a licensed clearing houseG relating to the settlementG of a market contractG ;
(c) Any proceeding or other action taken under the rules of a licensed clearing houseG relating to the settlementG of a market contractG ;
(d) A market chargeG ;
(e) The default rulesG of a licensed clearing houseG or central depositoryG ; and
(f) Any default proceedingsG .
Amended: April 2016
 Versions
(2 Versions)
 
May 1 2009 - Mar 31 2016Apr 1 2016 onwards
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