Clause 56
Effect of revocation
of Securities and Futures Bill
BillNot in forceProvision 77 of 348
Clause 56
Any revocation of approval referred to in section 55 shall not operate so as to —
(a)
avoid or affect any agreement, transaction or arrangement entered into in connection with the use of a clearing facility operated by the corporation, whether the agreement, transaction or arrangement was entered into before or after the revocation of the approval; or
(b)
affect any right, obligation or liability arising under such agreement, transaction or arrangement.