Template:Nutshell GMRA 2000 2(t): Difference between revisions

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Created page with "{{gmraprov|2(t)}} Securities are “'''{{gmraprov|equivalent}}''' to” other {{gmraprov|Securities}} if they are: <br> :(i) of the same issuer; <br> :(ii) part of the same is..."
 
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:(i) of the same issuer; <br>
:(i) of the same issuer; <br>
:(ii) part of the same issue; and  
:(ii) part of the same issue; and  
:(iii) of an identical type, nominal value, description and amount; provided that  <br>
:(iii) identical in type, nominal value, description and amount; provided that  <br>
::(A) Securities will be {{gmraprov|equivalent}} notwithstanding their redenomination into [[euro]] or that their nominal value has changed in connection with such redenomination; and
::(A) Securities will still be {{gmraprov|equivalent}} if they are redenominated into [[euro]] or their nominal value changes as a result; and
::(B) where {{gmraprov|Securities}} have been converted, subdivided or consolidated or have become the subject of a takeover or the holders of {{gmraprov|Securities}} have become entitled to receive or acquire other {{gmraprov|Securities}} or other property or the {{gmraprov|Securities}} have become subject to any similar event, the expression “'''{{gmraprov|equivalent}}''' to” shall mean {{gmraprov|Securities}} {{gmraprov|equivalent}} to the original {{gmraprov|Securities}} together with {{gmraprov|equivalent}} property to that receivable by holders of such original {{gmraprov|Securities}} as a result; <br>
::(B) where {{gmraprov|Securities}} are altered by a corporate event or their holders become entitled to receive any other property as a result, “'''{{gmraprov|equivalent}}''' to” will means those {{gmraprov|Securities}} as altered and any {{gmraprov|equivalent}} property due to such holders as a result; <br>

Revision as of 10:38, 4 March 2019

2(t) Securities are “equivalent to” other Securities if they are:

(i) of the same issuer;
(ii) part of the same issue; and
(iii) identical in type, nominal value, description and amount; provided that
(A) Securities will still be equivalent if they are redenominated into euro or their nominal value changes as a result; and
(B) where Securities are altered by a corporate event or their holders become entitled to receive any other property as a result, “equivalent to” will means those Securities as altered and any equivalent property due to such holders as a result;
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