Common use of Client Money and Account Clause in Contracts

Client Money and Account. 9.1 Admiral must deal with any money which you pay or give to us, or which is otherwise received by Admiral in connection with financial services provided by Admiral, in accordance with the Corporations Xxx 0000 and Applicable Regulations. Any deposited funds will be handled in accordance with s981A of the Corporations Xxx 0000 (Cth). You acknowledge that your monies and the monies of other clients of Admiral may be combined and deposited by Admiral in a client’s segregated account or a trust account. You also acknowledge that all monies credited to the client’s segregated account maintained by Admiral may be used by Admiral to meet the default of any other clients of Admiral.