Settlement and Ownership. (a) You shall pay for any Fixed Income Securities you have purchased on or before the settlement date. If, by the time due for settlement of a Transaction (as determined by Westpac), there is insufficient cash in your account to enable you to meet your settlement obligations, Westpac shall not be obliged to deliver Fixed Income Securities to you. Where there is insufficient cash in your account to meet your settlement obligation on settlement day, and where Westpac has bought a number of Fixed Income Securities from a third party or from a connected person with a view to matching your buy order in whole or in part, Westpac shall be entitled to sell in the market the corresponding number of Fixed Income Securities bought by it from the third party or from the connected person and to charge any loss on such purchase and sale or any costs incurred on such purchase and sale to you. Clause 7.2-7.3 of this Agreement shall apply to any such loss and to any such cost.
Settlement and Ownership
