50.
50.
Prior to the stipulated time for settlement, a Clearing Institution shall notify each
participant entity of the net-credit or net-debit positions for verification, and then
transmit the same to the Bank or the agent bank designated by the Bank for the
execution of settlements.
In executing settlements as referred to in the preceding Paragraph, all participant
entities with net-debit positions shall supplement those net settlement positions,
after which the Bank or the agent bank designated by the Bank will transfer net-credit
positions into their accounts.
A Clearing Institution may transfer funds several times during the daily settlement
period, while transmitting and managing transfers initiated by itself.
Where the balance in the settlement account of a participant entity is insufficient to
effect payment of amounts payable, the Clearing Institution shall be responsible for
notifying the participant entity to make up the shortfall.
The stipulated time for settlement referred to in Paragraph 1 shall be separately
prescribed by the Bank.
