Financial Markets Act, 2012 (Act No. 19 of 2012)

Chapter V : Clearing House

Functions of licensed clearing house and licensed central counterparty

52. Funds of mutual independent clearing house or central counterparty
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[Section 52 heading substituted by section 290, item 33 of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]

 

A mutual independent clearing house or a central counterparty may require its clearing members to contribute towards the funds of the clearing house for the purpose of carrying on the business of the clearing house.

 

[Section 52 substituted by section 290, item 33 of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]