Singapore legislation
Regulation 16
of Securities and Futures (Clearing Facilities) Regulations 2013
Regulation 16
Business continuity plan
Subregulation 1
An approved clearing house shall maintain at all times a plan of action (referred to in this regulation as a business continuity plan) setting out the procedures and establishing the systems necessary to restore, in the event of any disruption to the processes of any clearing facility which it operates, safe and efficient operations of that clearing facility.
Subregulation 2
An approved clearing house shall review and test the procedures and systems referred to in paragraph (1) on such regular basis as may be specified in the business continuity plan.
Subregulation 3
An approved clearing house shall immediately notify the Authority of any activation of its business continuity plan and of any action taken or intended to be taken to restore safe and efficient operations of its clearing facility.
Subregulation 4
An approved clearing house shall, within 14 days or such longer period as may be permitted by the Authority, inform the Authority of any material change to the business continuity plan and shall, if requested by the Authority, submit a copy of the new or amended plan to the Authority.