122JClaim by selling dealer in respect of default by buying dealer

##### 122J Claim by selling dealer in respect of default by buying dealer (1) Where, as at the end of the completion period in relation to a reportable transaction that is a sale by a dealer to another dealer: (a) the first‑mentioned dealer has supplied, or is ready, willing and able to supply, to the other dealer, pursuant to the agreement for the sale, settlement documents in relation to the sale; and (b) the other dealer has not paid to the first‑mentioned dealer, pursuant to that agreement, the consideration for the sale; the first‑mentioned dealer may make a claim in respect of the sale. (2) Where a dealer makes a claim in respect of a sale of securities by the claimant to another dealer and, at a particular time, the Board is satisfied that, as at that time: (a) subsection (1) entitles the claimant to make the claim; (b) the claimant has: (i) for the purposes of the claim, supplied to the Corporation; or (ii) pursuant to the agreement for the sale, supplied to the other dealer; settlement documents in relation to the sale; (c) the consideration for the sale has not been paid to the claimant pursuant to the agreement for the sale; and (d) the agreement has not been discharged or otherwise terminated; the Corporation shall allow the claim and pay to the claimant an amount equal to the amount of the consideration.