Unless otherwise notified by CDP to the Settlement Bank, settlement of the Net-Net Debit Balance or Net-Net Credit Balance for each Settlement Day between CDP and the Settlement Bank shall be effected by such time as set out in the Timetable on that Settlement Day, save that in the case of settlement in a foreign currency, if the Settlement Day is not a Common Banking Day, settlement shall be effected at the same time on the next Common Banking Day.

Payment of the Net-Net Debit Balance or the Net-Net Credit Balance shall not be considered to have been made to the intended recipient (i.e., CDP or the Settlement Bank) until the payment sum is irrevocably and unconditionally received, in immediately available funds, in such account of the intended recipient as is nominated by the intended recipient.

Such nomination shall, in the case of nomination by the Settlement Bank, be in writing to CDP, and in the case of nomination by CDP, be by way of circular or otherwise.

Added on 26 April 201326 April 2013.