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  • Business Rules of a Licensed Clearing House and Licensed Central Depository Have Effect as Contract

    • CSD-4.1.4

      The business rules of a licensed clearing house and licensed central depository shall be deemed to be, and shall operate as, a binding contract:

      (a) Between the licensed clearing house and licensed central depository and each issuer of securities;
      (b) Between the licensed clearing house and licensed central depository and each member or depository participant;
      (c) Between each issuer of securities and each member or depository participant; and
      (d) Between each member or depository participant and every other member or depository participant.
      Amended: April 2016