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

##### 122K Claim by buying dealer in respect of default by selling dealer (1) Where, as at the end of the completion period in relation to a reportable transaction that is a purchase by a dealer from 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 purchase, the consideration for the purchase; and (b) the other dealer has not supplied to the first‑mentioned dealer, pursuant to that agreement, settlement documents in relation to the purchase; the first‑mentioned dealer may make a claim in respect of the purchase. (2) Where a dealer makes a claim in respect of a purchase of securities by the claimant from 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, paid to the Corporation; or (ii) pursuant to the agreement for the purchase, paid to the other dealer; the amount of the consideration for the purchase; (c) settlement documents in relation to the purchase have not been supplied to the claimant pursuant to the agreement for the purchase; and (d) the agreement has not been discharged or otherwise terminated; the Corporation shall allow the claim and, subject to section 122N, supply to the claimant settlement documents in relation to the purchase.