Regulation 16
Where aggregate indebtedness exceeds 1,200% of aggregate resources
Subsidiary LegislationIn forceProvision 20 of 39
Regulation 16
Amended byS 677/2006 wef 20/12/2006S 463/2013 wef 01/08/2013S 714/2010 wef 26/11/2010
Subregulation 1
The holder of a licence shall not cause or permit its aggregate indebtedness to exceed 1,200% of its aggregate resources.
Subregulation 2
Amended byS 677/2006 wef 20/12/2006S 463/2013 wef 01/08/2013
If the holder fails to comply with paragraph (1) or becomes aware that it will fail to comply with that paragraph, the holder shall immediately notify —
(a)
the Authority; and
(b)
the approved exchange or approved clearing house of which the holder is a member.
Subregulation 3
Amended byS 714/2010 wef 26/11/2010
If the Authority is notified by the holder under paragraph (2) or becomes aware that the holder has failed to comply with paragraph (1), the Authority may revoke the licence of the holder under section 95(2) of the Act.
Subregulation 4
[Deleted by S 668/2018 wef 08/10/2018]