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 a holder is entitled to exercise any “'''corporate rights'''” 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:
“'''Corporate rights'''” include any:
**conversion, sub-division, consolidation or pre-emption rights;
*conversion, sub-division, consolidation or pre-emption rights;
**rights arising under a takeover offer;
*rights arising under a takeover offer;
**rights to receive securities now or in the future; or  
*rights to receive securities now or in the future; or  
**other rights, including ones that require the holder to make an election.
*other rights, including ones that require the holder to make an election. <br>

Latest revision as of 12:51, 18 July 2018

6.7 Corporate actions
Where a holder is entitled to exercise any “corporate rights” 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.
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