Rule 285. Notice of Intention to Successive Parties

This rule is no longer applicable effective November 11, 2008.

Every member or member organization receiving notice that a contract is to be closed for his or its account because of nondelivery including a notice pursuant to the rules of a Qualified Clearing Agency than an obligation of the member or member organization to deliver securities to the Clearing Agency or under its rules is to be closed-out for his or its own account shall immediately re-transmit notice thereof to any other member or member organization from whom the securities involved are due. Every such re-transmitted notice shall be in writing and shall be delivered at the office of the member or member organization to whom it is addressed; it shall state the date of the contract upon which the securities are due from such member or member organization, and the name of the member or member organization who has given the original notice to close.