(2)Subject to subsection 39.15(3.1) of the Canada Deposit Insurance Corporation Act, a settlement agent may immediately cease to act on behalf of an indirect settlement participant if
(a)the settlement agent reasonably believes that the indirect settlement participant poses a legal, financial or operational risk to the settlement agent; or
(b)the indirect settlement participant has breached a substantial term of an agreement entered into with the settlement agent for the purposes of clearing and settlement.
Federal laws of Canada reproduced under the Reproduction of Federal Law Order (SI/97-5); not the official version. Source: Justice Laws Website.