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Bearer security: Difference between revisions
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{{ | {{a|repack|}}A [[financial instrument]] title to which passes by delivery, so that whoever holds the instrument [[from time to time]] owns it absolutely. | ||
This means a person dealing with the “bearer” of a [[bearer security]] need not worry herself about its provenance, the | This means a person dealing with the “bearer” of a [[bearer security]] need not worry herself about its provenance, the ''bona fides'' of the bearer or the plausibility of the bearer’s right to the asset it represents. | ||
You ''got'' it, you ''own'' it. | You ''got'' it, you ''own'' it. | ||
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Title transfer by delivery makes bearer instruments hard to track and tax, meaning they are not popular with [[Internal Revenue Service|taxing authorities]] or [[money laundering reporting officer]]s. | Title transfer by delivery makes bearer instruments hard to track and tax, meaning they are not popular with [[Internal Revenue Service|taxing authorities]] or [[money laundering reporting officer]]s. | ||
The rise of electronic transfer means that securities are now in [[dematerialised]] form, and the scope for true anonymity of [[financial instruments]] is progressively limited, though this | The rise of electronic transfer means that securities are now in [[dematerialised]] form, and the scope for true anonymity of [[financial instruments]] is progressively limited, though this didn’t stop those hearty [[DLT]] refuseniks having a good old bash with [[bitcoin]]. | ||
{{ | {{sa}} | ||
*[[Registered form]] | |||
*[[Dematerialised securities]] | *[[Dematerialised securities]] | ||
*[[Negotiable instrument]] | *[[Negotiable instrument]] | ||
*[[Transferable security]] | *[[Transferable security]] | ||
*[[Bitcoin]] | *[[Bitcoin]] | ||