Equity transactions on the ASX generally settle on T+2 (i.e. two trading days after the trade has taken place), although some securities may settle on a deferred basis.
Payment for share purchase will be directly debited from your Direct Investment Account.
The net proceeds from the sell trade will be deposited directly into your Direct Investment Account on the settlement date (T+2) and the funds will remain in your Direct Investment Account earning interest until you either buy more shares, or withdraw the funds.