s 75 General obligations
75.—(1) A recognised clearing house —(a) must operate a safe and efficient clearing facility; (b) must manage any risks associated with its business and operations prudently; (c) in discharging its obligations under this Act, must not act contrary to the interests of the public, having particular regard to the interests of the investing public; (d) must ensure that access for participation in its clearing facility is subject to criteria that are fair and objective, and that are designed to ensure the safe and efficient functioning of its facility and to protect the interests of the investing public; (e) must maintain business rules that make satisfactory provision for —(i) the clearing facility to be operated in a safe and efficient manner; and (ii) the proper regulation and supervision of its members; (f) must enforce compliance by its members with its business rules; (g) must have sufficient financial, human and system resources —(i) to operate a safe and efficient clearing facility; (ii) to meet contingencies or disasters; and (iii) to provide adequate security arrangements; (h) must maintain governance arrangements that are adequate for the clearing facility to be operated in a safe and efficient manner; and (i) must ensure that it appoints or employs fit and proper persons as its chairperson, chief executive officer, directors and key management officers.[34/2012] (2) The obligations imposed on a recognised clearing house under this Act apply to all facilities for clearing or settlement operated by the recognised clearing house.[34/2012] (3) Despite subsection (2), the Authority may by written notice exempt any clearing facility operated by a recognised clearing house from all or any of the provisions of this Act, if the Authority is satisfied that such exemption would not detract from the objectives specified in section 47.[34/2012] (4) It is not necessary to publish any exemption granted under subsection (3) in the Gazette.[34/2012] (5) In subsection (1)(g), “contingencies or disasters” includes technical disruptions occurring within automated systems.[34/2012]