Examples of CMS Licence in a sentence
Any provision of these Rules referring to a Clearing Member that is not a Bank or does not have a CMS Licence shall not take effect until such time as the Clearing House publishes a Circular otherwise and amends the definition of 'Clearing Member' in these Rules.
A Member which does not have a CMS Licence and is not a Bank must have and maintain, at all times, a Net Capital of SGD 1 million.
The term " Base Capital" has the meaning given to the term "base capital" in Regulation 2 of the SF(FMR)R with references to a holder of a CMS Licence in the SF(FMR)R being construed as references to a Clearing Member, irrespective of whether such Clearing Member has a CMS Licence.
A Clearing Member with a CMS Licence shall notify the Clearing House immediately of any circumstances it is required to notify to the Clearing House pursuant to the SF(FMR)R, including, without limitation, pursuant to Regulations 4(2), 6(3), 7(1), 16(2), 17(1), 21(1), 21(2), 22(1), 22(2)(b)(i) and 25(1).
This Paragraph 5 applies only to a Member who has a CMS Licence, and all references to a Member in this Paragraph 5 shall be construed as a reference to a Member which has a CMS Licence.
The members of the Committee shall have the right to discuss such books and records as are in any way related to the financial statements and financial reporting of the Corporation with the officers and employees of the Corporation and its subsidiaries.
As required pursuant to Regulation 22(2)(a)(i) of the SF(FMR)R, a Clearing Member with a CMS Licence shall not repay, whether in part or in full, any subordinated loan principal before the maturity date set out in the subordination loan agreement without the prior approval of the Clearing House.
In accordance with Regulation 16 of the SF(FMR)R, a Clearing Member with a CMS Licence shall not cause or permit its Aggregate Indebtedness to exceed 1,200% of its Aggregate Resources.
Members who are CMS Licence holders must comply with Paragraphs 6.3 and 6.4 above by complying with the prescribed formats under the SF(FMR)R.
It was during this period when a special report on the status quo of municipalities was made to the MEC for Cooperative Governance, Traditional Affairs and Human Settlements.