Section 16Credit, hypothecation and lending of customers’ securities

s. 16

16. Credit, hypothecation and lending of customers’ securities No member or associate shall, in contravention of any rules made under this Ordinance, directly or indirectly,- (a) extend or maintain credit, or arrange for the extension or maintenance of credit, to or for any person for the purpose of purchasing or carrying any security; or (b) borrow on any security or land or arrange for the lending of any security carried for the account of a customer; or (c) hypothecate or arrange for the hypothecation of any security carried for the account of any customer.