Section 37

Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 Last amended on June 04, 2019Central Regulations · 1956

(1) Every recognised clearing corporation shall establish and maintain a Fund by whatever name called, for each segment, to guarantee the settlement of trades executed in respective segment of a recognised stock exchange:

5[***]

(2) In the event of a clearing member failing to honour his settlement obligations, the Fund shall be utilized to complete the settlement.

(3) The corpus of the Fund shall be adequate to meet the settlement obligations arising on account of failure of clearing member(s).

(4) The sufficiency of the corpus of the Fund shall be tested by way of periodic stress tests, in the manner specified by the Board.

(5) The utilization of the Fund shall be in accordance with the norms specified by the Board.

Utilization of profits and investments

Where this provision sits

Act	Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 Last amended on June 04, 2019
Section	37
Jurisdiction	Central
Status	In force as published by the source

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