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Article 33
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A customer that fails to make up a shortfall pursuant to a notice under paragraph 3 of the preceding article is in default. The securities firm shall cancel its securities lending account and file a default report with the TWSE or GTSM. The TWSE or GTSM shall promptly forward notice to all securities finance enterprises and securities firms.
A securities firm may, from the date of default until the date of settlement by the customer, collect a default penalty of 10 percent of the stipulated lending rate on the shortfall portion.
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