Singapore legislation
Regulation 17
of Securities and Futures (Clearing Facilities) Regulations 2013
Regulation 17
Recovery and resolution plan
Subregulation 1
An approved clearing house shall maintain at all times a plan of action (referred to in this regulation as a recovery and resolution plan) setting out the procedures and establishing the systems necessary, in the event of financial pressures or stress —
(a)
to restore the ability of the approved clearing house to operate as a going concern; and
(b)
to ensure the orderly winding up of the approved clearing house.
Subregulation 2
An approved clearing house shall review the procedures and systems referred to in paragraph (1) on such regular basis as may be specified in the recovery and resolution plan.