(7)CCPs established in Malaysia must be authorised by the SC. To be authorised to provide clearing services, CCPs have to fulfil specific requirements set out in the CMSA and further specified in the Guidelines and have internal rules and procedures in place that ensure compliance with all relevant standards of the PFMIs. In particular, CCPs must operate safely and effectively and manage prudently the risks associated with their business and operations. As provided in Section 3.02 of the Guidelines, CCPs are also required to have sufficient financial, human, risk management, information technology, systems and infrastructure resources to perform their function as a CCP. To prove compliance with the CMSA and the Guidelines, Section 38(2) of the CMSA requires CCPs to submit their internal rules and procedures to the SC prior to their implementation.