|
Article 32
|
Securities finance enterprises handling subscription loans and underwriting loans shall establish operating rules for such business and report them to the competent authority for approval.
The operating rules referred to in the preceding paragraph shall expressly state the following items:
- The opening of loan accounts.
- The terms or conditions for opening the account.
- The application for and repayment of loans.
- The calculation, replenishment, and disposition of collateral.
- When using other listed or OTC securities as collateral, the types of securities used for collateral and the standard for collateral settlement.
- The payment of securities as collateral.
- The title transfer of collateral securities and additional collateral securities.
- Other items required to be included by the competent authority.
Securities finance enterprises handling subscription loans and underwriting loans shall follow the operating rules of Paragraph 1.
|