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Template:GMRA 2000 5: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "{{gmraprov|5}}. '''{{gmraprov|Income Payments}}''' <br> Unless otherwise agreed -<br> :5(i) where the Term of a particular {{gmraprov|Transaction}} extends over an {{gmraprov|...") |
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{{gmraprov|5}}. '''{{gmraprov|Income Payments}}''' <br> | {{gmraprov|5}}. '''{{gmraprov|Income Payments}}''' <br> | ||
Unless otherwise agreed -<br> | Unless otherwise agreed -<br> | ||
:5(i) where the Term of a particular {{gmraprov|Transaction}} extends over an {{gmraprov|Income Payment Date}} in respect of any {{gmraprov|Securities}} subject to that {{gmraprov|Transaction}}, {{gmraprov|Buyer}} shall on the date such {{gmraprov|Income}} is paid by the issuer transfer to or credit to the account of {{gmraprov|Seller}} an amount equal to (and in the same currency as) the amount paid by the issuer; <br> | :{{gmraprov|5(i)}} where the Term of a particular {{gmraprov|Transaction}} extends over an {{gmraprov|Income Payment Date}} in respect of any {{gmraprov|Securities}} subject to that {{gmraprov|Transaction}}, {{gmraprov|Buyer}} shall on the date such {{gmraprov|Income}} is paid by the issuer transfer to or credit to the account of {{gmraprov|Seller}} an amount equal to (and in the same currency as) the amount paid by the issuer; <br> | ||
:(ii) where {{gmraprov|Margin Securities}} are transferred from one party (“'''the first party'''”) to the other party (“'''the second party'''”) and an {{gmraprov|Income Payment Date}} in respect of such {{gmraprov|Securities}} occurs before {{gmraprov|Equivalent Margin Securities}} are transferred by the second party to the first party, the second party shall on the date such {{gmraprov|Income}} is paid by the issuer transfer to or credit to the account of the first party an amount equal to (and in the same currency as) the amount paid by the issuer;<br> | :{{gmraprov|5(ii)}} where {{gmraprov|Margin Securities}} are transferred from one party (“'''the first party'''”) to the other party (“'''the second party'''”) and an {{gmraprov|Income Payment Date}} in respect of such {{gmraprov|Securities}} occurs before {{gmraprov|Equivalent Margin Securities}} are transferred by the second party to the first party, the second party shall on the date such {{gmraprov|Income}} is paid by the issuer transfer to or credit to the account of the first party an amount equal to (and in the same currency as) the amount paid by the issuer;<br> | ||
and for the avoidance of doubt references in this paragraph to the amount of any {{gmraprov|Income}} paid by the issuer of any {{gmraprov|Securities}} shall be to an amount paid without any withholding or deduction for or on account of taxes or duties notwithstanding that a payment of such {{gmraprov|Income}} made in certain circumstances may be subject to such a withholding or deduction.<br> | and for the avoidance of doubt references in this paragraph to the amount of any {{gmraprov|Income}} paid by the issuer of any {{gmraprov|Securities}} shall be to an amount paid without any withholding or deduction for or on account of taxes or duties notwithstanding that a payment of such {{gmraprov|Income}} made in certain circumstances may be subject to such a withholding or deduction.<br> | ||