Article 34 Payments of Net Amounts
34.1 All net funds payment obligations arising on the Settlement Day (T+ 2) are effected and settled by the Settlement Bank through the Participant's clearing account and the BSE's clearing account.
34.2 Participants shall settle transactions with their clients through their operating accounts, subject to the agreement between them, provided that the net to pay balance amount is available in the Participant's clearing account on the Settlement Day (T+2), not later than 09:30 hours.
34.3 Participants having a net to pay balance amount shall ensure that funds are available in their clearing account with the Settlement Bank on the Settlement Day (T+2) no later than 09:30 hours, with an instruction to the Settlement Bank for such funds to be credited to the BSE's clearing account.
34.4 If the CSU establishes that:
34.4.1 All Participants with a net balance due to pay have credited the BSE's clearing account with the same amount; and
34.4.2 Upon the notice of the Settlement Bank to the CSU regarding instructions to all Participants for the funds to be credited to the BSE's clearing account, and immediately after 09:30 hours on the Settlement Day, each Participant having a net balance due to receive will be credited with the amount from the BSE's clearing account to the Participant's clearing account with the Settlement Bank.
34.5 Payments of net to pay or net to receive balance amounts to the BSE's clearing account shall be final and irrevocable. A Participant or the BSE cannot revoke, cancel, return or otherwise refuse to pay, or attempt to prevent any payment to or from the clearing account.
34.6 Information in respect of Participants net to pay balance and net to receive balance amounts shall be communicated to the Settlement Bank through the CSDR System, by any means of communication agreed upon by the Parties.