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Article 18
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The principal holding the Central Bonds deliverable shall complete and send to the securities firm an Application for Registration of Outgoing Transfer for the Central Bonds to be transferred on the following day, before 12 am of the first business day after the trade date, for the securities firm to forward to the clearing bank on the same day. The securities firm shall further ascertain from the clearing bank the balance of the Central Bonds of the principal, by 5 pm of the same day.
The principal will be deemed in breach of contract if failing to act in accordance with the preceding paragraph or in case of insufficient funds in the account, in which case the securities broker shall inform the TWSE, as well as the principal, of the breach before 6 pm of the day of the breach and complete the necessary procedures on behalf of the principal.
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