Common use of RELATIONSHIP WITH DORMANT ACCOUNT HOLDERS AND REPAYMENT OF RECLAIMED BALANCES Clause in Contracts

RELATIONSHIP WITH DORMANT ACCOUNT HOLDERS AND REPAYMENT OF RECLAIMED BALANCES. 2.1 Save as expressly stated in this agreement, the Participant shall, with respect to each Transferred Dormant Account Balance, be solely responsible for managing and/or administering the relationship with the relevant Dormant Account Holder. 2.2 Without prejudice to clause 2.1 or 2.7, in the event that a Dormant Account Holder requests repayment of, or otherwise indicates an intention to transact in respect of, a Transferred Dormant Account Balance, the Participant will promptly and in the same manner and on the same basis as if the relevant Transferred Dormant Account Balance had not been transferred to the Reclaim Fund: (a) investigate the validity of the Dormant Account Holder's entitlement and satisfy itself as to the aggregate amount properly owing to the Dormant Account Holder in respect of that Transferred Dormant Account Balance with a view to discharging in full the Reclaim Fund's liability under section 1(2) of the Act in respect of that Transferred Dormant Account Balance; and (b) subject to satisfying itself as referred to in (a) above, as agent of the Reclaim Fund, repay such amount as referred to in (a) above to the Dormant Account Holder (whether by crediting the original account, crediting another account with the Participant or paying as otherwise directed by the Dormant Account Holder or on its behalf). 2.3 In the event that the Participant repays any amount in accordance with clause 2.2(b) during a Repayment Period (and without prejudice to clause 3.2), the Participant will, on or within ten

RELATIONSHIP WITH DORMANT ACCOUNT HOLDERS AND REPAYMENT OF RECLAIMED BALANCES. ‌ 2.1 Save as expressly stated in this agreement, the Participant shall, with respect to each Transferred Dormant Account Balance, be solely responsible for managing and/or administering the relationship with the relevant Dormant Account Holder. 2.2 Without prejudice to clause 2.1 or 2.72.7 of this Part C, in the event that a Dormant Account Holder requests repayment of, or otherwise indicates an intention to transact in respect of, a Transferred Dormant Account Balance, the Participant will promptly and in the same manner and on the same basis as if the relevant Transferred Dormant Account Balance had not been transferred to the Reclaim FundFund and/or to one or more Eligible Charities: (a) investigate the validity of the Dormant Account Holder's entitlement and satisfy itself as to the aggregate amount properly owing to the Dormant Account Holder in respect of that Transferred Dormant Account Balance with a view to discharging in full the Reclaim Fund's liability under section 1(22(2) of the Act in respect of that Transferred Dormant Account Balance; and (b) subject to satisfying itself as referred to in (a) above, as agent of the Reclaim Fund, repay such amount as referred to in (a) above to the Dormant Account Holder (whether by crediting the original account, crediting another account with the Participant or paying as otherwise directed by the Dormant Account Holder or on its behalf). 2.3 In the event that the Participant repays any amount in accordance with clause 2.2(b) of this Part C during a Repayment Period (and without prejudice to clause 3.23.2 of this Part C), the Participant will, on or within tenten (10) Business Days following the end of that Repayment Period (or, if it is not reasonably practicable to do so, on or within ten (10) Business Days following the end of the next Repayment Period), provide to the Reclaim Fund a duly signed and completed Reclaim Certificate in respect of all Reclaimed Balances paid (or credited) by the Participant during that Repayment Period (or preceding Repayment Period). 2.4 By providing a duly signed and completed Reclaim Certificate to the Reclaim Fund under clause