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CSD-1.5.6

Past version: Effective from 01 May 2009 to 31 Mar 2016
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The CBB may direct, by notice in writing, a licensed clearing house or central depository, to whom an order to cease operations of its clearing facility has been made by the CBB under rule CSD-1.5.2, to take such action as it considers necessary, including any of the following actions:

(a) Ordering the liquidation of all positions or part thereof, or the reduction in such positions;
(b) Altering conditions of delivery of transactions cleared or settled, or to be cleared or settled through the clearing or depository facility;
(c) Fixing the settlement price at which transactions are to be liquidated;
(d) Requiring margins or additional margins for transactions cleared or settled or to be cleared or settled through the clearing or depository facility;
(e) Modifying or suspending any of the business rules of the licensed clearing house or central depository; or
(f) Transferring the rights and obligations of that licensed clearing house or central depository to another licensed clearing house and central depository; and

the licensed clearing house or central depository shall comply with that direction.