A Clearing Agency shall prepare policies and procedures necessary to perform its activities after obtaining the Authority’s approval. Those policies and procedures shall in particular cover the following: 1. Providing services of clearing and settlement related to Securities or any other related service. 2. Becoming a member of a Clearing Agency and the obligations of its members. 3. Specifications of the rights and obligations of parties to a Securities transaction in respect of clearing and settlement and any related services. 4. Determination of the time at which the rights of the creditors of parties to a Securities transaction arise, including the rights pertaining to the cash return or its equivalent and the relevant Securities as a result of sales, purchases or title transfer operation. 5. Rules and procedures to be followed in the event that any person dealing with a Clearing Agency fails to deliver Securities or funds for the purposes of settling a transaction or other obligations within the clearing system. 6. Information, data and records which are considered confidential and the authorisation of persons to access the same due to the nature of their work. 7. Information, data and records that the Clearing Agency must disclose, and those to which the public may have access and obtain copies thereof. 8. Complaints. 9. Monitoring system. 10. Charges and fees. 11. Code of professional conduct applicable to the Clearing Agency’s Members of the Board of Directors and its employees. The Authority may waive some of those requirements according to the nature of the activity licensed to the Clearing Agency.