Equal, fair and transparent access required for clearing and settlement; unrelated activities barred except via separate legal entity. Regulation 41 requires recognised clearing corporations to adopt a transparent policy framework to prevent discrimination in clearing and settlement across shareholder and non shareholder stock exchanges. Both recognised clearing corporations and recognised stock exchanges must provide equal, unrestricted and unbiased access to all persons, without favouring associates or related entities. They are prohibited from engaging in activities unrelated or not incidental to their core functions, unless those activities are conducted through a separate legal entity and permitted by the Board.