Singapore legislation
Regulation 4
Regulation 4
Procedure at close of clearing
Subregulation 1
At the close of any clearing in each day, the operator must deliver to the settlement institution a statement of transfer setting out the obligations of each participant arising out of the clearing.
Subregulation 2
The settlement institution must, where applicable, effect the settlement by debiting or crediting the settlement accounts of a participant.
Subregulation 3
In preparing the statement mentioned in paragraph (1), the operator must take into account any notice given by any participant under regulation 3(2) or (3).