Payment of distribution amounts. (1) If notice is given under clause 4(3) that a GST invoice is required, the Trader must issue the Distributor [or the Shareholder Trust] with a GST invoice in accordance with that notice for the total amount of distributions credited, or to be credited, to qualifying Customers under clause 5.
(2) The Distributor [(unless it nominates the Shareholder Trust in its notice given under clause 4(3), in which case the Shareholder Trust)] must deposit the total amount of such distributions, without offset, into the Trader’s nominated bank account no later than 5 Working Days (or any alternative agreed date) after notice is given under clause 4(3) or, if a GST invoice is required, the Trader issues its GST invoice.
(3) Any distribution payments received by the Trader from the Distributor [or Shareholder Trust] under this clause must be held by the Trader in an appropriate bank account as separately identifiable funds, on trust for the benefit of the Customers who are entitled to receive the distributions.
(4) If, for any reason, the distribution payable to a qualifying Customer is unable to be paid by the Trader (by way of example but without limitation, because the person ceases to be a Customer and its account with the Trader has a credit balance after the date of processing of the distribution), and the Trader has received funds from the Distributor [or the Shareholder Trust] in respect of the distribution, the Trader must, as soon as practicable:
(a) refund to the Distributor [(unless the Trader received funds from the Shareholder Trust in respect of the distribution, in which case the Trader must refund to the Shareholder Trust)] the distribution received for the person, or the net credit of the account for the person if that is less than the amount of the distribution for the person; or
(b) refund the person directly the remaining amount.
Payment of distribution amounts. (1) If notice is given under clause 4(3) that a GST invoice is required, the Trader must issue the Distributor or the Shareholder Trust with a GST invoice in accordance with that notice for the total amount of distributions credited, or to be credited, to qualifying Customers under clause 5.
(2) The Distributor must deposit the total amount of such distributions, without offset, into the Trader’s nominated bank account no later than 5 Working Days (or any alternative agreed date) after notice is given under clause 4(3) or, if a GST invoice is required, the Trader issues its GST invoice.
(3) Any distribution payments received by the Trader from the Distributor under this clause must be held by the Trader in an appropriate bank account as separately identifiable funds, on trust for the benefit of the Customers who are entitled to receive the distributions.
(4) If, for any reason, the distribution payable to a qualifying Customer is unable to be paid by the Trader (by way of example but without limitation, because the person ceases to be a Customer and its account with the Trader has a credit balance after the date of processing of the distribution), and the Trader has received funds from the Distributor in respect of the distribution, the Trader must, as soon as practicable:
(a) refund to the Distributor the distribution received for the person, or the net credit of the account for the person if that is less than the amount of the distribution for the person; or
(b) refund the person directly the remaining amount.
Payment of distribution amounts. The Distribution Amounts shall be applied in payment of the Voluntary Administrators, the Deed Administrators and the Participating Creditors of the Company as follows:
