Securities and Futures Act 2001 · 2020 Revised Edition · Part 3 · Clearing Facilities
81F. Net sum payable on completion of default proceedings
Feedback & supportLast amended by an amending law of 2018. 2 amendments in all.
This section applies to any net sum certified under section 81E(1)(a)(i) by an approved clearing house or a recognised clearing house, upon the completion by it of any default proceedings, to be payable by or to a defaulter.
approved clearing house
“approved clearing house” means a corporation that is approved by the Authority under section 51(1)(a) as an approved clearing house;
Despite sections 218, 219, 345 and 346 of the Insolvency, Restructuring and Dissolution Act 2018, where, on or after 1 August 2013, a receiving order or winding up order has been made, or a resolution for voluntary winding up has been passed, any net sum as certified under section 81E(1)(a)(i) is —
provable in the bankruptcy or winding up or payable to the relevant office holder, as the case may be; and
to be taken into account, where appropriate, under section 219 or 346 of the Insolvency, Restructuring and Dissolution Act 2018.