Change of Participant [ASX Clear. Minimum Term 16] If the Client receives a Participant Change Notice from FinClear Services and the Participant Change Notice was received at least 20 Business Days prior to the date proposed in the Participant Change Notice for the change of Participant, the Client is under no obligation to agree to the change of Participant, and may choose to do any of the things set out below. The Client may choose to terminate this agreement in accordance with clause 10.1 or by giving instruction to FinClear Services, indicating that the Client wishes to transfer its Derivatives Contracts to another Participant. If the Client does not take any action to terminate this agreement and does not give any other instructions to FinClear Services which would indicate that the Client does not agree to the change of Participant then, on the Effective Date, this agreement will have been taken to be novated to the new Participant and will be binding on all parties as if on the Effective Date:
