SCHEDULE 1REQUIREMENTS FOR APPROVAL OF A PERSON AS OPERATOR

System capabilities

14

A relevant system must ensure that the Operator-system is able to generate Operator-instructions—

a

requiring participating issuers to amend the appropriate issuer registers of securities kept by them;

b

informing participating issuers in a way which enables them to amend the appropriate records of securities kept by them; and

c

informing settlement banks of their payment obligations.