Template:Nutshell Pledge GMSLA 6.4: Difference between revisions

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Revision as of 09:15, 23 December 2020

6.7 Corporate actions
Where a holder is entitled to exercise any “corporate rights” under any Loaned Securities before the receiver can return equivalent ones to the provider, then the provider can, within a reasonable time before the relevant deadline, notify the receiver that it wishes to receive the Loaned Securities as if the corporate rights had been exercised.

Corporate rights” include any:

  • conversion, sub-division, consolidation or pre-emption rights;
  • rights arising under a takeover offer;
  • rights to receive securities now or in the future; or
  • other rights, including ones that require the holder to make an election.