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Subregulation 1C

Securities and Futures (Clearing Facilities) Regulations 2013

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For the purposes of section 58(4) of the Act, an approved clearing house must notify the Authority —(a)of a matter mentioned in paragraph (1B)(a) no later than one hour after the discovery by the approved clearing house of the disruption, suspension, termination or delay; (b)of a matter mentioned in paragraph (1B)(b) no later than one day after the discovery by the approved clearing house of the disruption, suspension, termination or delay; and(c)of a matter mentioned in paragraph (1B)(c) no later than 14 days before the date on which the approved clearing house enters into the loan arrangement, or such shorter period before that date as the Authority may allow in any particular case where the Authority is satisfied that —(i)it is necessary for the approved clearing house to enter into the loan arrangement urgently because of any market or economic conditions, whether prevailing or anticipated, that affect or may affect any term of the loan arrangement; or(ii)it is necessary for the approved clearing house to enter into the loan arrangement urgently to achieve any of its business or strategic objectives.

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