Template:Nutshell Pledge GMSLA 6.4: Difference between revisions
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{{ | {{pgmslaprov|6.4}} '''{{pgmslaprov|Corporate actions}}''' <br> | ||
Where a holder is entitled to exercise any “'''corporate rights'''” under any {{ | Where a holder is entitled to exercise any “'''corporate rights'''” under any {{pgmslaprov|Loaned Securities}} before the receiver can return {{pgmslaprov|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 {{pgmslaprov|Loaned Securities}} as if the corporate rights had been exercised. | ||
“'''Corporate rights'''” include any: | “'''Corporate rights'''” include any: | ||
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*rights arising under a takeover offer; | *rights arising under a takeover offer; | ||
*rights to receive securities now or in the future; or | *rights to receive securities now or in the future; or | ||
*other rights, including ones | *other rights, including ones requiring the [[Holder of record|holder]] to make an election. <br> | ||
Latest revision as of 09:16, 23 December 2020
6.4 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 requiring the holder to make an election.