A Depository Agent appointed by its Principal under Rule 2.3.2 (hereinafter referred to as the "Depository Agent") shall be the Principal's attorney and shall be authorised in its name and on its behalf to execute and do all such acts and things which the Principal may or ought to do under the provisions of these DVP Rules and may generally in its name and on its behalf exercise all or any of the rights, powers, authorities and discretions conferred by or pursuant to these DVP Rules on the Principal.

The Depository Agent's Principal shall be liable to CDP and the Participants for all acts and omissions of its Depository Agent. As against CDP or any Participant, the Principal shall not be able to assert any lack of authority of the Depository Agent, regardless of whether the Participant had actual notice of such lack of authority.

No act or omission of, and in particular, no matching and validation of a DVP instruction or cancellation of a DVP transaction by the Depository Agent shall be invalid for lack of authority until the date the DA Termination Notice given by the Principal pursuant to Rule 4.5.1 takes effect.

Amended on 3 October 20093 October 2009.

The Principal shall procure that the Depository Agent observes and complies with the DVP Rules as if it were the Principal. The Depository Agent shall in turn undertake to the Principal to so observe and comply with the DVP Rules as if it were the Principal.

Unless otherwise provided to the contrary, all references to a "Principal" in these DVP Rules shall include references to the Depository Agent and vice versa.

All DVP instructions shall be submitted by the Depository Agent as agent for the Principal. Any reference in these DVP Rules to a DVP instruction submitted by the Principal shall mean that instruction so submitted by the Depository Agent as agent for the Principal.

Amended on 3 October 20093 October 2009.

All cancellation of DVP transactions (advance or otherwise) shall be submitted by the Depository Agent as agent for the Principal. Any reference in these DVP Rules to a DVP transaction (advance or otherwise) cancelled by the Principal shall mean that DVP transaction so cancelled by the Depository Agent as agent for the Principal.

Amended on 3 October 20093 October 2009.

All settlement instructions in DVP Settlement shall be made by the Depository Agent as agent for the Principal.

Amended on 3 October 20093 October 2009.

CDP shall be entitled (but shall not be obliged) to act only on submissions and cancellation of DVP instructions and/or transactions in DVP Settlement made by a Depository Agent to the exclusion of its Principal.

Amended on 3 October 20093 October 2009.

A Depository Agent shall be fully authorised, when submitting an instruction in DVP Settlement, to designate on behalf of its Principal, the Securities Account from which delivery of securities to or from CDP will be made pursuant to Rule 3.2.5.

Amended on 3 October 20093 October 2009.

The receipt by a Depository Agent of securities which CDP is obliged to deliver to its Principal shall be sufficient discharge to CDP of CDP's delivery obligations to its Principal. The delivery by a Depository Agent to CDP of securities which its Principal is obliged to deliver to CDP shall be sufficient discharge of the Principal's delivery obligations to CDP.

The Depository Agent shall be authorised by the Principal to communicate with CDP on all matters with regards to DVP Settlement.

All communications of the Principal with CDP in DVP Settlement shall be made through the Depository Agent and all communications of CDP with the Principal in DVP Settlement shall be made through the Depository Agent.

Amended on 3 October 20093 October 2009.

All statements to be given by CDP to the Principal pursuant to these DVP Rules shall be given to the Depository Agent. Any statement received by a Depository Agent shall be deemed to be received by its Principal.

Any reference to the Depository Agent in the statements to be given by CDP to any Participant pursuant to these DVP Rules shall include a reference to its Principal.

The Principal may terminate the Depository Agent as its agent for the purposes of these DVP Rules by notifying CDP by a written notice (the "DA Termination Notice") of the termination. The DA Termination Notice shall take effect on the same day in the week following the day of receipt by CDP of the said Notice but shall not affect any accrued rights or liabilities of the Principal to CDP. The Principal shall continue to be liable for all acts or omissions of the DA up to the date the DA Termination Notice takes effect.

A Depository Agent may not act for more than one Principal except with the written approval of CDP. CDP may give its approval on such terms and conditions as it may in its absolute discretion deem fit.

This Rule shall not apply to a Principal who is himself a DA.