Content of licensed CS facility’s operating rules
7.3.05 Content of licensed CS facility’s operating rules
For subsection 822A(1) of the Act, the following matters are matters with which the operating rules of a licensed CS facility must deal:
the regulated services provided by the licensed CS facility, including the means by which obligations of parties to transactions relating to financial products will be met through the licensed CS facility;
matters relating to risk in the licensed CS facility;
access to the licensed CS facility, including the criteria for determining persons who are eligible to be participants and the ongoing requirements for participants;
suspension and expulsion of participants from the licensed CS facility;
disciplinary action against participants;
procedures, to be followed by participants, to address risks that are relevant to the licensed CS facility;
requirements to facilitate the monitoring of compliance by participants with the operating rules of the licensed CS facility;
the handling of defaults;
any obligations on participants and issuers that are necessary to ensure that the CS facility licensee is able to comply with subparagraph 821A(1)(c)(i) of the Act;
if the licensed CS facility is a prescribed CS facility—arrangements for the transfer of financial products that are likely to be transferred using the licensed CS facility.
This Act’s bill:Explanatory statement
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.