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Miscellaneous Provisions – AHCX

Miscellaneous Provisions

Miscellaneous Provisions

Language

The Exchange will issue all notices, writings, reports and documents in English and this will be the governing language of the Exchange.

Records

  1. The records of the Exchange maintained in whatever way will constitute the agreed and authenticated record in relation to any transaction entered into or executed through the trading system of the Exchange.
  2. The records will be valid and binding evidence in disputes or claims arising out of deals and transactions on the Exchange, between and among the parties.

Limitation of liability

The Exchange will not be liable for any activities of its members or of any other person, authorised or unauthorised, acting in the name of any member, for any act of commission or omission by any one of them.

Acts in good faith

No claim, suit, prosecution or any other legal proceedings will be made against the Exchange or any member of the Board or any other duly authorised person acting on behalf of the Exchange, in respect of anything which is done or omitted in good faith in exercise of any power under the Rules or in pursuance of any order or any other kind of communication received by the Exchange from any court, tribunal, Government or any other competent regulatory or revenue authority empowered under any law or delegated legislation.

Confidentiality

  1. The Exchange and its employees will take necessary steps to preserve and protect information available in the trading system and its computer system relating to members and their business transactions on the Exchange.
  2. The Exchange may provide information relating to any business transactions of its members in respect of commodities admitted to dealings on the Exchange if required by any authority empowered under any law or delegated legislation to access the information.
  3. No Exchange member, approved user, authorised person or any of their employees shall be entitled to visit or inspect any premises of the Exchange to which access is restricted, without the prior written permission of the Exchange.

Indemnity

Members of the Exchange will indemnify and keep indemnified the Exchange from and against all harm, loss, damages, injury and penalty suffered or incurred and all costs, charges and expenses incurred in any suits, action, litigation, arbitration, disciplinary action, prosecution or any other legal proceedings suffered or incurred by the Exchange on account of acts of commission or omission or default in complying with any of the provisions or the authorities regulating commodity trading in the area where trading takes place, and the Rules framed there under or the Rules of the Exchange or due to any agreement, contract or transaction executed or made in pursuance thereof or on account of negligence or fraud on the part of any member of the Exchange or the Clearing House and their employees, servants and agents.

Force majeure

Services provided by the Exchange will be on best effort basis and it will not be liable for any harm, loss, damage and injury caused to any person arising in any way out of causes beyond its control. Failure on the part of the Exchange out of causes beyond its control will not in any way reduce, alter, limit or affect the liability of a member of the Exchange in respect of any transaction entered into or executed through the trading system Exchange by the member.