Whole Section

  • 5.1 Cash Ledger Accounts

    • 5.1.1

      CDP shall maintain, for each Settlement Participant, an account on its books to record the amount of money that the Settlement Participant has with CDP for the purposes of and arising from money settlement under these Rules. That account will be referred to in these Rules as the Settlement Participant's "Cash Ledger Account".

      Added on 10 December 201810 December 2018.

    • 5.1.2

      When a Settlement Participant deposits a sum of money with CDP, the Settlement Participant's Cash Ledger Account will be credited with an equivalent sum. When a Settlement Participant withdraws a sum of money held with CDP, the Settlement Participant's Cash Ledger Account will be debited with an equivalent sum.

      Added on 10 December 201810 December 2018.

    • 5.1.3

      Save for manifest error, the balance in a Settlement Participant's Cash Ledger Account is binding and conclusive on the Settlement Participant as to the amount of money that CDP holds for the Settlement Participant.

      Added on 10 December 201810 December 2018.

    • 5.1.4

      Notwithstanding any manifest error or dispute as to the balance in a Settlement Participant's Cash Ledger Account, CDP shall be entitled to act on the basis that the balance in the Cash Ledger Account accurately reflects the amount of money that it holds on behalf of the Settlement Participant, until the dispute is resolved.

      Added on 10 December 201810 December 2018.