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Template:CASS Section 6.3.6: Difference between revisions
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'''CASS {{cassprov|6.3.6}}''': A firm may conclude an agreement with a third party relating to the custody of {{cassprov|safe custody assets}} which confers on that party, or on another person instructed by that party to provide custody services for those assets, a lien, right of retention or sale, or right of | '''CASS {{cassprov|6.3.6}}''': A firm may conclude an agreement with a third party relating to the custody of {{cassprov|safe custody assets}} which confers on that party, or on another person instructed by that party to provide custody services for those assets, a lien, right of retention or sale, or right of [[set-off]] in favour of that party or that other person only if that [[lien]] or right: | ||
:(1) is confined to those {{cassprov|safe custody assets}} held in an account with that third party or that other person and extends only to properly incurred charges and liabilities arising from the provision of custody services in respect of {{cassprov|safe custody assets}} held in that account; or | :(1) is confined to those {{cassprov|safe custody assets}} held in an account with that third party or that other person and extends only to properly incurred charges and liabilities arising from the provision of custody services in respect of {{cassprov|safe custody assets}} held in that account; or | ||
:(2) arises under the operating terms of a securities depository, securities settlement system or central counterparty in whose account {{cassprov|safe custody assets}} are recorded or held, and provided that it does so for the purpose only of facilitating the settlement of trades involving the assets held in that account; or | :(2) arises under the operating terms of a securities depository, securities settlement system or central counterparty in whose account {{cassprov|safe custody assets}} are recorded or held, and provided that it does so for the purpose only of facilitating the settlement of trades involving the assets held in that account; or | ||