A Settlement Participant that submits a Settlement Instruction to deliver securities on behalf of a Customer shall ensure and transact with its Customer on the basis that:

(a) any securities delivered or to be delivered by it will be delivered free from any interest of its Customer;
(b) the Customer will not retain any equitable or legal interest in the securities debited from the Delivery Securities Account and will not be entitled to trace nor claim any interest in the securities;
(c) the Customer's sole remedy in respect of such securities will be against the Settlement Participant itself.

Added on 10 December 201810 December 2018.