Whole Section

  • 12.2 Onward Deliveries

    • 12.2.1

      Securities which are to be delivered by CDP to a Principal pursuant to a receiving instruction and which have been earmarked for onward delivery on the same Settlement Day shall be credited and subsequently debited from the Designated Securities Account.

      Amended on 3 October 20093 October 2009.

    • 12.2.3

      CDP shall be irrevocably authorised by the Principal and its Depository Agent to credit and debit the Designated Securities Account for such onward deliveries referred to in Rules 12.2.1.

      Amended on 3 October 20093 October 2009.

    • 12.2.4

      Neither the Settlement Bank of the Principal nor any other person shall have any prior right to or interest in the securities delivered to the Designated Securities Account which have been earmarked for onward delivery.