Past version: Effective up to 09 Dec 2018
Where a Final Settlement Balance is payable to CDP by the Clearing Member on a Settlement Day, for so long as such Final Settlement Balance has not been fully settled pursuant to Rule 6.4.1:
(1) CDP shall have no obligation to make delivery of any securities to that Clearing Member pursuant to Novated Contracts; and
(2) to the extent that any securities pursuant to Novated Contracts have been credited to the Clearing Member's Clearing Account or the Securities Account or sub-account of the Clearing Member or the customer of the Clearing Member on whose behalf the Clearing Member executed the relevant Exchange Trade, CDP shall have the right to recover such securities.
Added on 22 April 201322 April 2013.