CLEAR Terms and Conditions

Effective November 6 2009

Changes made since October 1 2009

Due to the acquisition of CLEAR by NZX the following amendments have been made:

• Changed company details on cover pages from “CLEAR Commodities Pty Ltd” to “NZX Holding No. 4 Limited trading as CLEAR Commodities”
• Replaced ACN with ABN on cover pages
• Changed definition of CLEAR to “NZX Holding No. 4 Ltd trading as CLEAR Commodities ABN 72 375 021 249“

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Effective October 1 2009 — November 1 2009

Changes made since previous draft published September 25 2009

• Removed "Draft" from the PDF file name and watermark
• Changed the date in the PDF file name to October 1 2009
• Updated the cover page with publish date of October 1 2009

Changes made since previous draft published September 17 2009

• Added Suspension of Registration clause
• Included Bid Sheet Bid Parameters to Making Bids section (oversight)
• Added Bid Acceptance Tolerance definition and clause
• Removed Cancellation of Registration clause (duplicate)
• Added provision for Custodian to complete trades in settlement in the event of insolvency
• Added clause to provide remedy for CLEAR Fee in event of non-payment contract breach
• Added assignment clause and notification of assignment
• Added definition of Offer Quantity
• Minor grammatical corrections