Template:Nutshell GMSLA 6.7: Difference between revisions
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{{gmslaprov|6.7}} '''{{gmslaprov|Corporate actions}}''' <br> | {{gmslaprov|6.7}} '''{{gmslaprov|Corporate actions}}''' <br> | ||
Where any “'''corporate rights'''” arise under any {{gmslaprov|Loaned Securities}} or any {{gmslaprov|Collateral}} (“'''assets'''”) before the receiver can return {{gmslaprov|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 assets as if the corporate rights been exercised. | Where any “'''corporate rights'''” arise under any {{gmslaprov|Loaned Securities}} or any {{gmslaprov|Collateral}} (“'''assets'''”) before the receiver can return {{gmslaprov|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 assets as if the corporate rights 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. <br> | |||
Revision as of 17:30, 17 July 2018
6.7 Corporate actions
Where any “corporate rights” arise under any Loaned Securities or any Collateral (“assets”) 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 assets as if the corporate rights 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.