16.0

<div data-id="section-n-1-1.1" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">1.1 General</div>

<div data-id="section-n-1" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">1. INTRODUCTION</div>

<div data-id="section-n-2-2.1" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">2.1 General</div>

<div data-id="section-n-2-2.2" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">2.2 The <u class='defined-term'>BSC Clearer</u> as counter party to each <u class='defined-term'>Party</u></div>

<div data-id="section-n-2-2.3" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">2.3 Determination of payments for Trading Charges</div>

<div data-id="section-n-2-2.4" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">2.4 Payment netting</div>

<div data-id="section-n-2-2.5" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">2.5 Conditions for payment by the <u class='defined-term'>BSC Clearer</u></div>

<div data-id="section-n-2-2.7" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">2.7 Liability of the <u class='defined-term'>BSC Clearer</u></div>

<div data-id="section-n-2-2.8" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">2.8 Trading Disputes</div>

<div data-id="section-n-2-2.9" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">2.9 Assignment</div>

<div data-id="section-n-2" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">2. CLEARING ARRANGEMENTS</div>

<div data-id="section-n-3-3.1" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">3.1 Content</div>

<div data-id="section-n-3-3.2" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">3.2 Requirements</div>

<div data-id="section-n-3-3.3" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">3.3 Production</div>

<div data-id="section-n-3" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">3. PAYMENT CALENDAR</div>

<div data-id="section-n-4-4.1" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">4.1 Establishment of Accounts</div>

<div data-id="section-n-4-4.2" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">4.2. <u class='defined-term'>Funds Transfer Agreement</u></div>

<div data-id="section-n-4-4.3" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">4.3 <u class='defined-term'>Settlement Account</u></div>

<div data-id="section-n-4-4.4" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">4.4 Notification of <u class='defined-term'>Settlement Account</u></div>

<div data-id="section-n-4-4.5" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">4.5 Change of <u class='defined-term'>Settlement Account</u></div>

<div data-id="section-n-4-4.6" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">4.6 <u class='defined-term'>Reserve Account</u></div>

<div data-id="section-n-4-4.7" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">4.7 Details of Accounts</div>

<div data-id="section-n-4-4.8" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">4.8 Banking <u class='defined-term'>Communication</u>s Links</div>

<div data-id="section-n-4-4.9" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">4.9 <u class='defined-term'>Credit Facility</u></div>

<div data-id="section-n-4-4.10" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">4.10 Treasury Policy and investment of <u class='defined-term'>Reserve Account</u> monies</div>

<div data-id="section-n-4" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">4. BANKING ARRANGEMENTS</div>

<div data-id="section-n-5-5.1" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">5.1 Tax Agreements</div>

<div data-id="section-n-5-5.2" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">5.2 Withholdings on account of taxation</div>

<div data-id="section-n-5-5.3" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">5.3 Taxation of <u class='defined-term'>BSC Clearer</u></div>

<div data-id="section-n-5-5.4" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">5.4 Value Added Tax</div>

<div data-id="section-n-5" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">5. TAXATION</div>

<div data-id="section-n-6-6.1" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">6.1 <u class='defined-term'>Settlement Run</u>s</div>

<div data-id="section-n-6-6.2" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">6.2 Validation by FAA</div>

<div data-id="section-n-6-6.3" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">6.3 Rectification of errors</div>

<div data-id="section-n-6-6.4" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">6.4 Reconciliation</div>

<div data-id="section-n-6-6.5" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">6.5 Amounts in Advice Notes</div>

<div data-id="section-n-6-6.6" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">6.6 Postponed Payments</div>

<div data-id="section-n-6-6.7" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">6.7 Payment by <u class='defined-term'>BSC Debtor</u>s, the <u class='defined-term'>BSC Clearer</u> and BSCCo</div>

<div data-id="section-n-6-6.8" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">6.8 Liability several</div>

<div data-id="section-n-6-6.9" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">6.9 <u class='defined-term'>Ad-hoc Trading Charge</u>s</div>

<div data-id="section-n-6-6.10" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">6.10 <u class='defined-term'>Replacement Supplier</u></div>

<div data-id="section-n-6" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">6. CALCULATION OF PAYMENTS</div>

<div data-id="section-n-7-7.1" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">7.1 Despatch of Advice Notes</div>

<div data-id="section-n-7-7.2" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">7.2 Method of despatch</div>

<div data-id="section-n-7" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">7. ADVICE NOTES</div>

<div data-id="section-n-8-8.1" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">8.1 Instructions for payment</div>

<div data-id="section-n-8-8.2" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">8.2 FAA’s responsibilities</div>

<div data-id="section-n-8-8.3" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">8.3 Non-payment</div>

<div data-id="section-n-8-8.4" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">8.4 Excess payments</div>

<div data-id="section-n-8-8.5" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">8.5 Payment to <u class='defined-term'>BSC Creditor</u>s</div>

<div data-id="section-n-8-8.6" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">8.6 Prohibition on transfers</div>

<div data-id="section-n-8-8.7" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">8.7 Clearing of <u class='defined-term'>Clearing Account</u></div>

<div data-id="section-n-8" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">8. PAYMENT PROCEDURE</div>

<div data-id="section-n-9-9.1" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">9.1 General</div>

<div data-id="section-n-9-9.2" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">9.2 <u class='defined-term'>Affected Date</u></div>

<div data-id="section-n-9-9.3" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">9.3 <u class='defined-term'>Amount in Default</u></div>

<div data-id="section-n-9-9.4" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">9.4 Interest</div>

<div data-id="section-n-9-9.7" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">9.7 No liability</div>

<div data-id="section-n-9" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">9. PAYMENT DEFAULT</div>

<div data-id="section-n-10-10.1" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">10.1 Despatch of Confirmation Notices</div>

<div data-id="section-n-10-10.2" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">10.2 Information – Imbalance Parties</div>

<div data-id="section-n-10-10.3" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">10.3 Information - <u class='defined-term'>NETSO</u></div>

<div data-id="section-n-10" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">10. CONFIRMATION NOTICES IN RESPECT OF A PAYMENT DATE</div>

<div data-id="section-n-11-11.1" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">11.1 Overpayments</div>

<div data-id="section-n-11-11.2" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">11.2 Failure to repay overpayments</div>

<div data-id="section-n-11-11.3" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">11.3 Underpayments</div>

<div data-id="section-n-11" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">11. PAYMENT ERRORS</div>

<div data-id="section-n-12-12.1" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">12.1 Duties of FAA</div>

<div data-id="section-n-12-12.2" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">12.2 Action to recover <u class='defined-term'>Default Share Amount</u>s</div>

<div data-id="section-n-12" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">12. ENFORCEMENT OF CLAIMS</div>

<div data-id="section-n-13-13.1" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">13.1 Maintenance of Ledger Accounts</div>

<div data-id="section-n-13-13.2" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">13.2 Ledger extracts</div>

<div data-id="section-n-13-13.3" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">13.3 Certified copy extracts</div>

<div data-id="section-n-13-13.4" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">13.4 Confidentiality</div>

<div data-id="section-n-13-13.5" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">13.5 Information</div>

<div data-id="section-n-13-13.6" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">13.6 Review of extracts</div>

<div data-id="section-n-13-13.7" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">13.7 Dispute of accuracy</div>

<div data-id="section-n-13" style="margin-left:0.69in;text-align:justify;text-indent:-0.69in">13. LEDGER ACCOUNTS</div>

<div data-id="section-n" style="text-align:center">SECTION N: CLEARING, INVOICING &amp; PAYMENT</div>

CONTENTS

BSC Section N: Clearing, Invoicing & Payment V16.0

Defined Terms

Cross-references