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🔗 Back to Summary. 🇫🇷 French Version: 2018R1229_FR.17. Back to Summary of LVL1. Open the PDF. Direct link to EUR-LEX.
Article 16 – Calculation and application of cash penalties ⬅️ | ➡️ Article 18 – Costs of the penalty mechanism
Article 17 - Collection and distribution of cash penalties
1.
CSDs shall charge and collect on at least a monthly basis the net amount of cash penalties to be paid by each failing participant.
Cash penalties shall be deposited into a dedicated cash account.
2.
CSDs shall distribute on at least a monthly basis the net amount of cash penalties referred to in paragraph 1 to receiving participants affected by settlement fails.