Safekeeping of Securities. 6.1 Any Securities which are held by CAL for safekeeping may, at CAL’s discretion, either:- 6.1.1 (in the case of registrable Securities) be registered in the Client’s name or in the name of CAL’s nominee; or 6.1.2 be deposited in safe custody in a designated account with CAL’s bankers or with any other institution which provides facilities for the safe custody of documents. In the case of Securities in Hong Kong, such institution shall be acceptable to the SFC as a provider of safe custody services. Any Securities kept outside Hong Kong shall be subject to the applicable laws, rules, regulations and customs and/or bye-laws. 6.2 CAL shall not bound to redeliver to the Client the identical Securities or certificates representing Securities received by CAL from or for the Client but may redeliver other Securities or certificates representing Securities of like kind and amount. CAL’s obligation shall be to deliver to the Client or the Client’s lawful representative such Securities or certificates representing Securities of like kind and amount at the office at which the Account is carried provided that CAL shall not be responsible for the loss or damage to any Securities deposited with or held by CAL or its agents or otherwise on its behalf, unless due to gross negligence or willful default on CAL’s or their part. 6.3 The Client acknowledges and agrees that Securities from time to time acquired and/or held through or in CCASS shall be held subject to and in accordance with CCASS rules. Where the Client has an Investor CCASS Account and specifies that Securities are to be held in the relevant Investor CCASS Account, such Securities shall, save where the context otherwise requires, be treated in this Agreement as held for the Account. The Client shall be responsible for all costs and expenses in respect of the Investor CCASS Account. 6.4 Where any Securities are held in the name of CAL or its nominee, unless CAL receives the Client’s Instruction or any Event of Default occurs, CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies. 6.5 Where Securities are registered in the name of CAL or its nominee and have been deposited under the terms hereof, CAL shall notify Client of information received by CAL which requires action to be taken by Client in relation to such Securities and to request, collect, receive and make payments or distributions attributable to such securities(“Corporate Action”) arising from acquisition, ownership, disposal, conversion, exchange or otherwise. However, CAL are authorized, at its discretion, to take such steps as CAL may consider expedient to enable CAL to provide the services in relation to Corporate Action and to exercise ▇▇▇ ▇▇▇▇▇▇ not to notify Client of any Corporate Action information and to receive any proxy voting forms without notice to Client. Unless CAL receives Instruction(which shall be deemed to include the default option specified in any notification and request for Instructions) CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies. 6.6 Where Securities are not registered in the Client’s name, any dividends or other benefits arising from Corporate Action in respect of such Securities pursuant to Clause 6.4 shall, when received by CAL, be credited to Account or paid or transferred to Client as agreed with CAL. Where the Securities form part of a larger holding of identical securities held for CAL clients, the Client shall be entitled to the same share of the benefits arising on the holding as CAL share of the total holding. 6.7 If, in relation to any Securities deposited with CAL but which are not registered in the name of Client, in respect of which any loss is suffered by CAL there from, CAL is entitled to debit in the Account or alternatively demand payment by Client as may be agreed with the amount of such against such portion equivalent to the amount of loss as the aforesaid of the total Securities held by CAL on behalf of Client. 6.8 CAL has not received from the Client any written authority under section 148 of the SFO to:- 6.8.1 deposit any of the Client's Securities with an authorized financial institution as collateral for financial accommodation in the course of dealings in securities or any other regulated activity which is licensed or registered made to CAL, or with a recognized clearing house; or another intermediary licensed or registered for dealing in securities as collateral for the discharge and satisfaction of CAL obligations and liabilities under the clearing system; 6.8.2 apply or lend any of the Client's Securities pursuant to a securities borrowing and lending agreement; and 6.8.3 otherwise part with possession(except to Client or on Client's Instructions) of any of Client securities for any purpose.
Appears in 3 contracts
Sources: Cash/Custodian Client’s Agreement, Cash/Custodian Client’s Agreement, Cash/Custodian Client’s Agreement
Safekeeping of Securities. 6.1 8.1 Any Securities which are held by CAL EISHK for safekeeping pursuant to these Terms may, at CAL’s discretion, either:-EISHK's discretion and subject to applicable laws and regulations:
6.1.1 (a) (in the case of registrable Securitiesregisterable securities) be registered in the Client’s name of the Client or in the name of CAL’s nomineeEISHK or EISHK's Associate; or
6.1.2 (b) be deposited in safe custody in a designated account of EISHK with CAL’s bankers a bank or with any other institution institutions which provides facilities for the safe custody of documentsSecurities and documents relating thereto. In the case of Securities securities in Hong Kong, such institution shall be acceptable to the SFC Securities and Futures Commission as a provider of safe custody services. Any Securities kept outside Hong Kong shall be subject to the applicable laws, rules, regulations and customs and/or bye-laws.
6.2 CAL shall not bound to redeliver to the Client the identical Securities or certificates representing Securities received by CAL from or for the Client but may redeliver other Securities or certificates representing Securities of like kind and amount. CAL’s obligation shall be to deliver to the Client or the Client’s lawful representative such Securities or certificates representing Securities of like kind and amount at the office at which the Account is carried provided that CAL shall not be responsible for the loss or damage to any Securities deposited with or held by CAL or its agents or otherwise on its behalf, unless due to gross negligence or willful default on CAL’s or their part.
6.3 8.2 The Client acknowledges and agrees that Securities from time to time acquired and/or held pursuant to these Terms through or in CCASS a Clearing System shall be held subject to and in accordance with CCASS rules. Where the applicable Rules.
8.3 EISHK shall be entitled to deposit all such cash and Securities of the Client has an Investor CCASS Account as are delivered to and specifies that accepted by EISHK or any of its sub-custodians and held pursuant to these Terms with such other bank or institution and on such terms as it may deem fit. Such cash or Securities are to may be held in the relevant Investor CCASS Account, such co-mingled with those of other clients (but not with cash or Securities shall, save where the context otherwise requires, be treated in this Agreement as held for the Account. The Client shall be responsible for all costs and expenses EISHK's own account), in respect of the Investor CCASS Account.
6.4 Where any Securities are held in the name of CAL or its nominee, unless CAL receives the Client’s Instruction or any Event of Default occurs, CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.5 Where Securities are registered in the name of CAL or its nominee and have been deposited under the terms hereof, CAL shall notify Client of information received by CAL which requires action to be taken by Client in relation to such Securities and to request, collect, receive and make payments or distributions attributable to such securities(“Corporate Action”) arising from acquisition, ownership, disposal, conversion, exchange or otherwise. However, CAL are authorized, at its discretion, to take such steps as CAL may consider expedient to enable CAL to provide the services in relation to Corporate Action and to exercise ▇▇▇ ▇▇▇▇▇▇ not to notify Client of any Corporate Action information and to receive any proxy voting forms without notice to Client. Unless CAL receives Instruction(which shall be deemed to include the default option specified in any notification and request for Instructions) CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.6 Where Securities are not registered in the Client’s name, any dividends or other benefits arising from Corporate Action in respect of such Securities pursuant to Clause 6.4 shall, when received by CAL, be credited to Account or paid or transferred to Client as agreed with CAL. Where the Securities form part of a larger holding of identical securities held for CAL clients, case the Client shall be entitled in common with the other clients to the same its proportionate share of such cash or Securities or the benefits arising rights thereto as are held by EISHK for the account of its clients. Subject to mutual agreement between the Client and EISHK, no interest shall be payable on the holding as CAL share of the total holdingsuch cash.
6.7 If8.4 Subject to Clause 8.5, in relation EISHK shall as soon as reasonably practicable after having been required to do so by instructions from the Client:
(a) (i) procure the registration of any Securities deposited with CAL but which are not registered from time to time in the Securities Account in the name of Client, in respect of which any loss is suffered the Client or a person notified by CAL there from, CAL is entitled to debit in the Account or alternatively demand payment by Client as may be agreed with being the amount of such against such portion equivalent to the amount of loss as the aforesaid of the total Securities held by CAL on behalf of Client.
6.8 CAL has not received from the Client any written authority under section 148 of the SFO to:-
6.8.1 deposit any associate of the Client's , or (ii) if so instructed, deliver the documents representing or evidencing the Securities with an authorized financial institution as collateral for financial accommodation to the Client or such associate whereupon such Securities shall cease to be in the course of dealings in securities or any other regulated activity which is licensed or registered made to CAL, or with a recognized clearing house; or another intermediary licensed or registered for dealing in securities as collateral for the discharge and satisfaction of CAL obligations and liabilities under the clearing systemSecurities Account;
6.8.2 apply or lend (b) transfer any sum specified in instructions of the Client from the Securities Account to such bank account of the Client as the Client may advise and such transfer shall be deemed to be a good discharge of the obligation to make payment to the Client's Securities pursuant to a securities borrowing and lending agreement; and
6.8.3 otherwise part with possession(except to Client or on Client's Instructions) of any of Client securities for any purpose.
Appears in 3 contracts
Sources: Securities Trading Account Agreement, Agreement for Securities Trading Account, Securities Trading Account Agreement
Safekeeping of Securities. 6.1 Any 2.1 Unless otherwise agreed, any Securities which are purchased for the Client or deposited with ZUNDIAO and held by CAL ZUNDIAO for safekeeping may, at CALZUNDIAO’s absolute discretion, either:-:
6.1.1 (a) in the case of registrable Securities) , be registered in the Client’s name or in the name of CALZUNDIAO’s nominee; nominee or,
6.1.2 (b) be deposited in safe custody at the Client’s own costs in a designated trust or Client account established and maintained by ZUNDIAO or ZUNDIAO’s nominee with CAL’s bankers its/their bankers, custodians or nominees as decided by ZUNDIAO, or with any other institution which provides facilities for the safe custody of documents. In documents provided that in the case of Securities listed or traded on the SEHK or interests in Hong Konga collective investment scheme authorised by the SFC, such institution shall be acceptable to the SFC as a provider of safe custody services. Any Securities kept outside Hong Kong shall be subject to the applicable laws, rules, regulations and customs and/or bye-lawsservices or with another intermediary licensed for dealing in Securities.
6.2 CAL shall not bound to redeliver to the Client the identical Securities or certificates representing Securities received by CAL from or for the Client but may redeliver other Securities or certificates representing Securities 2.2 Where any of like kind and amount. CAL’s obligation shall be to deliver to the Client or the Client’s lawful representative such Securities or certificates representing Securities of like kind and amount at the office at which the Account is carried provided that CAL shall not be responsible for the loss or damage to any Securities deposited with or securities held by CAL or its agents or otherwise on its behalf, unless due to gross negligence or willful default on CAL’s or their part.
6.3 The Client acknowledges and agrees that Securities from time to time acquired and/or held through or in CCASS shall be held subject to and in accordance with CCASS rules. Where the Client has an Investor CCASS Account and specifies that Securities are to be held in the relevant Investor CCASS Account, such Securities shall, save where the context otherwise requires, be treated in this Agreement as held for the Account. The Client shall be responsible for all costs and expenses in respect of the Investor CCASS Account.
6.4 Where any Securities are held in the name of CAL or its nominee, unless CAL receives the Client’s Instruction or any Event of Default occurs, CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.5 Where Securities are registered in the name of CAL or its nominee and have been deposited under the terms hereof, CAL shall notify Client of information received by CAL which requires action to be taken by Client in relation to such Securities and to request, collect, receive and make payments or distributions attributable to such securities(“Corporate Action”) arising from acquisition, ownership, disposal, conversion, exchange or otherwise. However, CAL are authorized, at its discretion, to take such steps as CAL may consider expedient to enable CAL to provide the services in relation to Corporate Action and to exercise ▇▇▇ ▇▇▇▇▇▇ not to notify Client of any Corporate Action information and to receive any proxy voting forms without notice to Client. Unless CAL receives Instruction(which shall be deemed to include the default option specified in any notification and request for Instructions) CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.6 Where Securities ZUNDIAO are not registered in the Client’s name, any dividends dividends, distributions or other benefits arising from Corporate Action in respect of such Securities pursuant to Clause 6.4 securities shall, when received by CAL, ZUNDIAO:
(a) be credited to Account or the Account; or
(b) be paid or transferred to Client the Client, as agreed with CAL. between ZUNDIAO and the Client.
2.3 ZUNDIAO is under no duty to return to the Client the securities originally delivered or deposited but shall return securities of the same class, denominations and nominal amount and ranking to the Client.
2.4 Where the Securities securities form part of a larger holding of identical securities held for CAL clientsZUNDIAO’s Clients, the Client shall be entitled to the same share of the benefits arising on from the holding as CAL proportional to the Client’s share of the total holding.
6.7 If, in relation 2.5 The Client hereby authorises ZUNDIAO to any Securities deposited with CAL but which are not registered in exercise voting rights on the name of Client, ’s behalf in respect of which any loss is suffered by CAL there from, CAL is entitled to debit in such securities based upon the Account or alternatively demand payment by Client as may be agreed with the amount of such against such portion equivalent to the amount of loss as the aforesaid of the total Securities held by CAL on behalf of Client’s prior specific instructions.
6.8 CAL has not received from 2.6 ZUNDIAO may, without the Client any written authority under section 148 of the SFO to:-
6.8.1 deposit Client’s prior consent, deal with any of the Client's Securities ’s securities that are held or received outside Hong Kong or securities that are not listed nor traded on the SEHK nor interests in a collective investment scheme authorised by the SFC in a manner that is consistent with an authorized financial institution as collateral for financial accommodation in the course of dealings in securities or any other regulated activity which is licensed or registered made to CAL, or with a recognized clearing house; or another intermediary licensed or registered for dealing in securities as collateral for the discharge and satisfaction of CAL obligations and liabilities under the clearing system;
6.8.2 apply or lend any of the Client's Securities pursuant to a securities borrowing and lending agreement; and
6.8.3 otherwise part with possession(except to Client or on Client's Instructions) of any of Client securities for any purposeapplicable Market Requirements.
Appears in 2 contracts
Sources: Client Account Agreement, Cash Client Agreement (Corporate/Institutional Clients)
Safekeeping of Securities. 6.1 Any Securities which are held by CAL for safekeeping may, at CAL’s discretion, either:-either:
6.1.1 (in the case of registrable Securities) be registered in the Client’s name or in the name of CAL’s nominee; or
6.1.2 be deposited in safe custody in a designated account with CAL’s bankers or with any other institution which provides facilities for the safe custody of documents. In the case of Securities in Hong Kong, such institution shall be acceptable to the SFC as a provider of safe custody services. Any Securities kept outside Hong Kong shall be subject to the applicable laws, rules, regulations and customs and/or bye-laws.
6.2 CAL shall not bound to redeliver to the Client the identical Securities or certificates representing Securities received by CAL from or for the Client but may redeliver other Securities or certificates representing Securities of like kind and amount. CAL’s obligation shall be to deliver to the Client or the Client’s lawful representative such Securities or certificates representing Securities of like kind and amount at the office at which the Account is carried provided that CAL shall not be responsible for the loss or damage to any Securities deposited with or held by CAL or its agents or otherwise on its behalf, unless due to gross negligence or willful default on CAL’s or their part.
6.3 The Client acknowledges and agrees that Securities from time to time acquired and/or held through or in CCASS shall be held subject to and in accordance with CCASS rules. Where the Client has an Investor CCASS Account and specifies that Securities are to be held in the relevant Investor CCASS Account, such Securities shall, save where the context otherwise requires, be treated in this Agreement as held for the Account. The Client shall be responsible for all costs and expenses in respect of the Investor CCASS Account.
6.4 Where any Securities are held in the name of CAL or its nominee, unless CAL receives the Client’s Instruction or any Event of Default occurs, CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.5 Where Securities are registered in the name of CAL or its nominee and have been deposited under the terms hereof, CAL shall notify Client of information received by CAL which requires action to be taken by Client in relation to such Securities and to request, collect, receive and make payments or distributions attributable to such securities(“Corporate Action”) arising from acquisition, ownership, disposal, conversion, exchange or otherwise. However, CAL are authorized, at its discretion, to take such steps as CAL may consider expedient to enable CAL to provide the services in relation to Corporate Action and to exercise ▇▇▇ ▇▇▇▇▇▇ not to notify Client of any Corporate Action information and to receive any proxy voting forms without notice to Client. Unless CAL receives Instruction(which Instruction (which shall be deemed to include the default option specified in any notification and request for Instructions) CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.6 Where Securities are not registered in the Client’s name, any dividends or other benefits arising from Corporate Action in respect of such Securities pursuant to Clause 6.4 shall, when received by CAL, be credited to Account or paid or transferred to Client as agreed with CAL. Where the Securities form part of a larger holding of identical securities held for CAL clients, the Client shall be entitled to the same share of the benefits arising on the holding as CAL share of the total holding.
6.7 If, in relation to any Securities deposited with CAL but which are not registered in the name of Client, in respect of which any loss is suffered by CAL there from, CAL is entitled to debit in the Account or alternatively demand payment by Client as may be agreed with the amount of such against such portion equivalent to the amount of loss as the aforesaid of the total Securities held by CAL on behalf of Client.
6.8 CAL has not received from the Client any written authority under section 148 of the SFO to:-to:
6.8.1 deposit any of the Client's Securities with an authorized financial institution as collateral for financial accommodation in the course of dealings in securities or any other regulated activity which is licensed or registered made to CAL, or with a recognized clearing house; or another intermediary licensed or registered for dealing in securities as collateral for the discharge and satisfaction of CAL obligations and liabilities under the clearing system;
6.8.2 apply or lend any of the Client's Securities pursuant to a securities borrowing and lending agreement; and
6.8.3 otherwise part with possession(except possession (except to Client or on Client's Instructions) of any of Client securities for any purpose.
Appears in 2 contracts
Sources: Cash/Custodian Client’s Agreement, Cash/Custodian Client’s Agreement
Safekeeping of Securities. 6.1 Any Securities securities which are held by CAL you for safekeeping may, at CAL’s discretion, either:-
6.1.1 your discretion (in the case of registrable Securitiessecurities) be registered in the Client’s my/our name or in the name of CAL’s your nominee; or
6.1.2 or be deposited in safe custody in a designated account with CAL’s your bankers or with any other institution which provides facilities for the safe custody of documents. In the case of Securities securities in Hong Kong, such institution shall be acceptable to the SFC as a provider of safe custody services. Any Securities kept outside Hong Kong shall be subject to the applicable laws, rules, regulations and customs and/or bye-laws.
6.2 CAL shall not bound to redeliver to the Client the identical Securities or certificates representing Securities received by CAL from or for the Client but may redeliver other Securities or certificates representing Securities of like kind and amount. CAL’s obligation shall be to deliver to the Client or the Client’s lawful representative such Securities or certificates representing Securities of like kind and amount at the office at which the Account is carried provided that CAL shall not be responsible for the loss or damage to any Securities deposited with or held by CAL or its agents or otherwise on its behalf, unless due to gross negligence or willful default on CAL’s or their part.
6.3 The Client acknowledges and agrees that Securities from time to time acquired and/or held through or in CCASS shall be held subject to and in accordance with CCASS rulesservice. Where the Client has an Investor CCASS Account and specifies that Securities are to be held in the relevant Investor CCASS Account, such Securities shall, save where the context otherwise requires, be treated in this Agreement as held for the Account. The Client shall be responsible for all costs and expenses in respect of the Investor CCASS Account.
6.4 Where any Securities are held in the name of CAL or its nominee, unless CAL receives the Client’s Instruction or any Event of Default occurs, CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.5 Where Securities are registered in the name of CAL or its nominee and have been deposited under the terms hereof, CAL shall notify Client of information received by CAL which requires action to be taken by Client in relation to such Securities and to request, collect, receive and make payments or distributions attributable to such securities(“Corporate Action”) arising from acquisition, ownership, disposal, conversion, exchange or otherwise. However, CAL are authorized, at its discretion, to take such steps as CAL may consider expedient to enable CAL to provide the services in relation to Corporate Action and to exercise ▇▇▇ ▇▇▇▇▇▇ not to notify Client of any Corporate Action information and to receive any proxy voting forms without notice to Client. Unless CAL receives Instruction(which shall be deemed to include the default option specified in any notification and request for Instructions) CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.6 Where Securities securities are not registered in the Client’s my/our name, any dividends or other benefits arising from Corporate Action in respect of such Securities pursuant to Clause 6.4 securities shall, when received by CALyou, be credited to my/our Account or paid or transferred to Client me/us, as agreed with CALyou. Where the Securities securities form part of a larger holding of identical securities held for CAL your clients, the Client I/we shall be entitled to the same share of the benefits arising on the holding as CAL my/our share of the total holding.
6.7 If, in relation to any Securities deposited with CAL but which are totalholding. You do not registered in the name of Client, in respect of which any loss is suffered by CAL there from, CAL is entitled to debit in the Account or alternatively demand payment by Client as may be agreed with the amount of such against such portion equivalent to the amount of loss as the aforesaid of the total Securities held by CAL on behalf of Client.
6.8 CAL has not received from the Client any have my/our written authority under section 148 6 of the SFO to:-
6.8.1 Securities and Futures (Client Securities) Rules to: deposit any of the Client's Securities my/our securities with an authorized financial a banking institution as collateral for financial accommodation in the course of dealings in securities an advance or any other regulated activity which is licensed or registered loan made to CALyou, or with a recognized clearing house; or another intermediary licensed or registered for dealing in securities the Clearing House as collateral for the discharge and satisfaction of CAL your obligations and liabilities under the clearing system;
6.8.2 apply ; borrow or lend any of the Client's Securities pursuant to a securities borrowing and lending agreementmy/our securities; and
6.8.3 or otherwise part with possession(except possession (except to Client me/us or on Client's Instructionsany my/our instructions) of any of Client my/our securities for any purpose.
5. CASH HELD FOR ME/US Any cash held for me/us, other than cash received by you in respect of Transactions and which is on-paid for settlement purposes or to me/us, shall be credited to a client trust account maintained with a licensed bank as required by applicable laws form time to time.
6. I/WE WILL SIGN AND ACKNOWLEDGE WHEN ENTERING INTO THIS AGREEMENT A RISK DISCLOSURE STATEMENTS IN THE FORM APPEARING IN THE PAGE TO THIS AGREEMENT
Appears in 2 contracts
Safekeeping of Securities. 6.1 Any Securities which are held by CAL for safekeeping may, at CAL’s discretion, either:-(a) The Lending Agent shall hold:
6.1.1 (i) all Collateral in the case form of registrable SecuritiesSecurities in a Securities Collateral Account; and
(ii) all other Securities received by the Lending Agent under this Agreement in a Securities Custody Account. In each case, the Lending Agent shall identify such Securities on its books and records as held for the account of the Client through use of a naming convention that identifies the Client and in a manner that indicates that the Securities do not beneficially belong to: Lending Agent or other customers of the Lending Agent.
(b) Legal title to the Securities in the Securities Accounts shall be registered or recorded in any relevant record of legal entitlement in accordance with the rules set out in the Client Asset Rules (as amended from time to time). In accordance with such rules, the Lending Agent notifies the Client that the Securities may be registered in the name of:
(i) the Client;
(ii) a nominee company controlled by the Lending Agent or controlled by an Affiliate (a “Relevant Nominee Company”), or a nominee company appointed by a Sub-custodian or a Settlement System on such terms and conditions as any of the foregoing may require; or
(iii) the Lending Agent, a Sub-custodian or a Settlement System or otherwise as permitted by the Client Asset Rules. Where securities are registered or recorded in this manner, they may not be physically segregated from the securities of the Lending Agent, the Sub- custodian or Settlement System and in the event of the insolvency of the Lending Agent, the Sub-custodian or the Settlement System (as applicable), the Client’s name securities may not be as well protected from claims made by the creditors of the Lending Agent, the Sub-custodian or the Settlement System; provided that in each case that legal title to securities shall be registered or recorded in any relevant record of legal entitlement in accordance with the applicable Client Asset Rules. The Lending Agent accepts the same level of responsibility to the Client for any Relevant Nominee Company with respect to the requirements of the Client Asset Rules. Where registration is in the name of CAL’s nominee; or
6.1.2 be deposited in safe custody in a designated account with CAL’s bankers or with any other institution which provides facilities for the safe custody of documents. In Lending Agent, the case of Securities in Hong Kong, such institution shall be acceptable Lending Agent will include (where practicable) appropriate designation to the SFC as a provider of safe custody services. Any Securities kept outside Hong Kong shall be subject to the applicable laws, rules, regulations and customs and/or bye-laws.
6.2 CAL shall not bound to redeliver to the Client the identical Securities or certificates representing Securities received by CAL from or for the Client but may redeliver other Securities or certificates representing Securities of like kind and amount. CAL’s obligation shall be to deliver to the Client or the Client’s lawful representative such Securities or certificates representing Securities of like kind and amount at the office at which the Account is carried provided indicate that CAL shall not be responsible for the loss or damage to any Securities deposited with or assets are held by CAL or its agents or otherwise on its behalf, unless due to gross negligence or willful default on CAL’s or their part.
6.3 The Client acknowledges and agrees that Securities from time to time acquired and/or held through or in CCASS shall be held subject to and in accordance with CCASS rules. Where the Client has an Investor CCASS Account and specifies that Securities are to be held in the relevant Investor CCASS Account, such Securities shall, save where the context otherwise requires, be treated in this Agreement as held for the Account. The Client shall be responsible for all costs and expenses in respect of the Investor CCASS Account.
6.4 Where any Securities are held in the name of CAL or its nominee, unless CAL receives the Client’s Instruction or any Event of Default occurs, CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.5 Where Securities are registered in the name of CAL or its nominee and have been deposited under the terms hereof, CAL shall notify Client of information received by CAL which requires action to be taken by Client in relation to such Securities and to request, collect, receive and make payments or distributions attributable to such securities(“Corporate Action”) arising from acquisition, ownership, disposal, conversion, exchange or otherwise. However, CAL are authorized, at its discretion, to take such steps as CAL may consider expedient to enable CAL to provide the services in relation to Corporate Action and to exercise ▇▇▇ ▇▇▇▇▇▇ not to notify Client of any Corporate Action information and to receive any proxy voting forms without notice to Client. Unless CAL receives Instruction(which shall be deemed to include the default option specified in any notification and request for Instructions) CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.6 Where Securities are not registered in the Client’s name, any dividends or other benefits arising from Corporate Action in respect of such Securities pursuant to Clause 6.4 shall, when received by CAL, be credited to Account or paid or transferred to Client as agreed with CAL. Where the Securities form part of a larger holding of identical securities held for CAL clients, the Client shall be entitled to the same share of the benefits arising on the holding as CAL share of the total holding.
6.7 If, in relation to any Securities deposited with CAL but which are not registered in the name of Client, in respect of which any loss is suffered by CAL there from, CAL is entitled to debit in the Account or alternatively demand payment by Client as may be agreed with the amount of such against such portion equivalent to the amount of loss as the aforesaid of the total Securities held by CAL it on behalf of Clientits clients.
6.8 CAL has not received from (c) The Lending Agent shall hold all physical Securities in the Client any written authority under section 148 physical possession of the SFO to:-
6.8.1 deposit any of Lending Agent in such a manner that it is readily apparent that such Securities do not belong to the Client's Securities with an authorized financial institution as collateral for financial accommodation in the course of dealings in securities or any other regulated activity which is licensed or registered made to CALLending Agent, or with a recognized clearing house; or another intermediary licensed or registered Sub-custodian in a safe custody account generally designated for dealing in securities as collateral for Securities belonging to the discharge and satisfaction of CAL obligations and liabilities under the clearing system;
6.8.2 apply or lend any customer of the Client's Securities pursuant to a securities borrowing and lending agreement; and
6.8.3 otherwise part with possession(except to Client or on Client's Instructions) of any of Client securities for any purposeLending Agent.
Appears in 1 contract
Sources: Lending Lite Securities Lending Authorisation Agreement
Safekeeping of Securities. 6.1 Any Securities which are held by CAL PC Securities Limited for safekeeping may, at CAL’s PC Securities Limited's discretion, either:-:
6.1.1 (a) (in the case of registrable Securities) be registered in the Client’s 's name or in the name of CAL’s PC Securities Limited 's nominee; or
6.1.2 be deposited (b) Be deposited, at the Client’s costs, in safe custody in a designated account with CALPC Securities Limited’s bankers or with any other institution which provides facilities for the safe custody of documents. In the case of Securities in (or traded in) Hong Kong, such institution shall be acceptable to approved by the SFC and/or Foreign Regulators as a provider of safe custody services. Any Securities kept outside Hong Kong shall be subject to the applicable laws, rules, regulations and customs and/or bye-laws.
6.2 CAL shall not bound to redeliver to the Client the identical Securities or certificates representing Securities received by CAL from or for the Client but may redeliver other Securities or certificates representing Securities of like kind and amount. CAL’s obligation shall be to deliver to the Client or the Client’s lawful representative such Securities or certificates representing Securities of like kind and amount at the office at which the Account is carried provided that CAL shall not be responsible for the loss or damage to any Securities deposited with or held by CAL or its agents or otherwise on its behalf, unless due to gross negligence or willful default on CAL’s or their part.
6.3 The Client acknowledges and agrees that Securities from time to time acquired and/or held through or in CCASS shall be held subject to and in accordance with CCASS rules. Where the Client has an Investor CCASS Account and specifies that Securities are to be held in the relevant Investor CCASS Account, such Securities shall, save where the context otherwise requires, be treated in this Agreement as held for the Account. The Client shall be responsible for all costs and expenses in respect of the Investor CCASS Account.
6.4 Where any Securities are held in the name of CAL or its nominee, unless CAL receives the Client’s Instruction or any Event of Default occurs, CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.5 Where Securities are registered in the name of CAL or its nominee and have been deposited under the terms hereof, CAL shall notify Client of information received by CAL which requires action to be taken by Client in relation to such Securities and to request, collect, receive and make payments or distributions attributable to such securities(“Corporate Action”) arising from acquisition, ownership, disposal, conversion, exchange or otherwise. However, CAL are authorized, at its discretion, to take such steps as CAL may consider expedient to enable CAL to provide the services in relation to Corporate Action and to exercise ▇▇▇ ▇▇▇▇▇▇ not to notify Client of any Corporate Action information and to receive any proxy voting forms without notice to Client. Unless CAL receives Instruction(which shall be deemed to include the default option specified in any notification and request for Instructions) CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.6 Where Securities are not registered in the Client’s 's name, any dividends or other benefits arising from Corporate Action in respect of such Securities pursuant to Clause 6.4 shall, when received by CALPC Securities Limited, be credited to the Client's Account or paid or transferred to the Client after deduction of the relevant charges, as agreed with CALPC Securities Limited. Where the Securities form part of a larger holding of identical securities Securities held for CAL clientsthe Clients, the Client shall will be entitled to the same share of the benefits arising on the holding as CAL the Client's share of the total holding.
6.7 If, in relation 6.3 The Client agrees to any pay service charges upon the Account at such rates and on such other terms as PC Securities deposited with CAL but which are not registered in Limited has stipulated at its discretion and notified the name of Client, Client from time to time in respect of which any loss is suffered by CAL there from, CAL is entitled the safe custody services.
6.4 PC Securities Limited as a broker who does not have the Client's written authority pursuant to debit in the Account or alternatively demand payment by Client as may be agreed with the amount of such against such portion equivalent to the amount of loss as the aforesaid section 7(2) of the total Securities held by CAL on behalf of Client.and Futures (Client Securities) Rules shall not:
6.8 CAL has not received from the Client any written authority under section 148 of the SFO to:-
6.8.1 (a) deposit any of the Client's Securities with an authorized financial a banking institution as collateral for financial accommodation in the course of dealings in securities an advance or any other regulated activity which is licensed or registered loan made to CALPC Securities Limited, or with a recognized clearing house; or another intermediary licensed or registered for dealing in securities the HKSCC as collateral for the discharge and satisfaction of CAL PC Securities Limited's obligations and liabilities under the clearing system;
6.8.2 apply (b) borrow or lend any of the Client's Securities pursuant to a securities borrowing and lending agreementSecurities; and
6.8.3 (c) otherwise part with possession(except possession (except to the Client or on the Client's Instructions) of any of Client securities the Client's Securities for any purpose.
6.5 Subject to settlement of all outstanding balances of any and all of the Accounts owing to PC Securities Limited (if any), Securities purchased for the Client will be delivered to the Client provided that:
(a) such Securities are fully paid; and
(b) such Securities are not subject to any lien.
Appears in 1 contract
Sources: Client Agreement
Safekeeping of Securities. 6.1 Any Securities which are held by CAL Innovest Securities Investment Limited for safekeeping may, at CAL’s Innovest Securities Investment Limited's discretion, either:-:
6.1.1 (a) (in the case of registrable Securities) be registered in the Client’s 's name or in the name of CAL’s Innovest Securities Investment Limited 's nominee; or
6.1.2 (b) be deposited deposited, at the Client’s costs, in safe custody in a designated account with CALInnovest Securities Investment Limited’s bankers or with any other institution which provides facilities for the safe custody of documents. In the case of Securities in Hong Kong, such institution shall be acceptable to approved by the SFC as a provider of safe custody services. Any Securities kept outside Hong Kong shall be subject to the applicable laws, rules, regulations and customs and/or bye-laws.
6.2 CAL shall not bound to redeliver to the Client the identical Securities or certificates representing Securities received by CAL from or for the Client but may redeliver other Securities or certificates representing Securities of like kind and amount. CAL’s obligation shall be to deliver to the Client or the Client’s lawful representative such Securities or certificates representing Securities of like kind and amount at the office at which the Account is carried provided that CAL shall not be responsible for the loss or damage to any Securities deposited with or held by CAL or its agents or otherwise on its behalf, unless due to gross negligence or willful default on CAL’s or their part.
6.3 The Client acknowledges and agrees that Securities from time to time acquired and/or held through or in CCASS shall be held subject to and in accordance with CCASS rules. Where the Client has an Investor CCASS Account and specifies that Securities are to be held in the relevant Investor CCASS Account, such Securities shall, save where the context otherwise requires, be treated in this Agreement as held for the Account. The Client shall be responsible for all costs and expenses in respect of the Investor CCASS Account.
6.4 Where any Securities are held in the name of CAL or its nominee, unless CAL receives the Client’s Instruction or any Event of Default occurs, CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.5 Where Securities are registered in the name of CAL or its nominee and have been deposited under the terms hereof, CAL shall notify Client of information received by CAL which requires action to be taken by Client in relation to such Securities and to request, collect, receive and make payments or distributions attributable to such securities(“Corporate Action”) arising from acquisition, ownership, disposal, conversion, exchange or otherwise. However, CAL are authorized, at its discretion, to take such steps as CAL may consider expedient to enable CAL to provide the services in relation to Corporate Action and to exercise ▇▇▇ ▇▇▇▇▇▇ not to notify Client of any Corporate Action information and to receive any proxy voting forms without notice to Client. Unless CAL receives Instruction(which shall be deemed to include the default option specified in any notification and request for Instructions) CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.6 Where Securities are not registered in the Client’s 's name, any dividends or other benefits arising from Corporate Action in respect of such Securities pursuant to Clause 6.4 shall, when received by CALInnovest Securities Investment Limited, be credited to the Client's Account or paid or transferred to the Client after deduction of the relevant charges, as agreed with CALInnovest Securities Investment Limited. Where the Securities form part of a larger holding of identical securities Securities held for CAL clientsthe Clients, the Client shall will be entitled to the same share of the benefits arising on the holding as CAL the Client's share of the total holding.
6.7 If, in relation 6.3 The Client agrees to any pay service charges upon the Account at such rates and on such other terms as Innovest Securities deposited with CAL but which are not registered in Investment Limited has stipulated at its discretion and notified the name of Client, Client from time to time in respect of which any loss is suffered by CAL there from, CAL is entitled the safe custody services.
6.4 Innovest Securities Investment Limited as a broker who does not have the Client's written authority pursuant to debit in the Account or alternatively demand payment by Client as may be agreed with the amount of such against such portion equivalent to the amount of loss as the aforesaid section 7(2) of the total Securities held by CAL on behalf of Client.and Futures (Client Securities) Rules shall not:
6.8 CAL has not received from the Client any written authority under section 148 of the SFO to:-
6.8.1 (a) deposit any of the Client's Securities with an authorized financial a banking institution as collateral for financial accommodation in the course of dealings in securities an advance or any other regulated activity which is licensed or registered loan made to CALInnovest Securities Investment Limited, or with a recognized clearing house; or another intermediary licensed or registered for dealing in securities the HKSCC as collateral for the discharge and satisfaction of CAL Innovest Securities Investment Limited's obligations and liabilities under the clearing system;
6.8.2 apply (b) borrow or lend any of the Client's Securities pursuant to a securities borrowing and lending agreementSecurities; and
6.8.3 (c) otherwise part with possession(except possession (except to the Client or on the Client's Instructions) of any of Client securities the Client's Securities for any purpose.
6.5 Subject to settlement of all outstanding balances of any and all of the Accounts owing to Innovest Securities Investment Limited (if any), Securities purchased for the Client will be delivered to the Client provided that:
(a) such Securities are fully paid; and
(b) such Securities are not subject to any lien.
Appears in 1 contract
Sources: Client Agreement
Safekeeping of Securities. 6.1 8.1 Any Securities which are held by CAL EISHK for safekeeping pursuant to these Terms may, at CAL’s discretion, either:-EISHK's discretion and subject to applicable laws and regulations:
6.1.1 (a) (in the case of registrable Securitiesregisterable securities) be registered in the Client’s name of the Client or in the name of CAL’s nomineeEISHK or EISHK's Associate; or
6.1.2 (b) be deposited in safe custody in a designated account of EISHK with CAL’s bankers a bank or with any other institution institutions which provides facilities for the safe custody of documentsSecurities and documents relating thereto. In the case of Securities securities in Hong Kong, such institution shall be acceptable to the SFC Securities and Futures Commission as a provider of safe custody services. Any Securities kept outside Hong Kong shall be subject to the applicable laws, rules, regulations and customs and/or bye-laws.
6.2 CAL shall not bound to redeliver to the Client the identical Securities or certificates representing Securities received by CAL from or for the Client but may redeliver other Securities or certificates representing Securities of like kind and amount. CAL’s obligation shall be to deliver to the Client or the Client’s lawful representative such Securities or certificates representing Securities of like kind and amount at the office at which the Account is carried provided that CAL shall not be responsible for the loss or damage to any Securities deposited with or held by CAL or its agents or otherwise on its behalf, unless due to gross negligence or willful default on CAL’s or their part.
6.3 8.2 The Client acknowledges and agrees that Securities from time to time acquired and/or held pursuant to these Terms through or in CCASS a Clearing System shall be held subject to and in accordance with CCASS rules. Where the applicable Rules.
8.3 EISHK shall be entitled to deposit all such cash and Securities of the Client has an Investor CCASS Account as are delivered to and specifies that accepted by EISHK or any of its sub-custodians and held pursuant to these Terms with such other bank or institution and on such terms as it may deem fit. Such cash or Securities are to may be held in the relevant Investor CCASS Account, such co-mingled with those of other clients (but not with cash or Securities shall, save where the context otherwise requires, be treated in this Agreement as held for the Account. The Client shall be responsible for all costs and expenses EISHK's own account), in respect of the Investor CCASS Account.
6.4 Where any Securities are held in the name of CAL or its nominee, unless CAL receives the Client’s Instruction or any Event of Default occurs, CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.5 Where Securities are registered in the name of CAL or its nominee and have been deposited under the terms hereof, CAL shall notify Client of information received by CAL which requires action to be taken by Client in relation to such Securities and to request, collect, receive and make payments or distributions attributable to such securities(“Corporate Action”) arising from acquisition, ownership, disposal, conversion, exchange or otherwise. However, CAL are authorized, at its discretion, to take such steps as CAL may consider expedient to enable CAL to provide the services in relation to Corporate Action and to exercise ▇▇▇ ▇▇▇▇▇▇ not to notify Client of any Corporate Action information and to receive any proxy voting forms without notice to Client. Unless CAL receives Instruction(which shall be deemed to include the default option specified in any notification and request for Instructions) CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.6 Where Securities are not registered in the Client’s name, any dividends or other benefits arising from Corporate Action in respect of such Securities pursuant to Clause 6.4 shall, when received by CAL, be credited to Account or paid or transferred to Client as agreed with CAL. Where the Securities form part of a larger holding of identical securities held for CAL clients, case the Client shall be entitled in common with the other clients to the same its proportionate share of such cash or Securities or the benefits arising rights thereto as are held by EISHK for the account of its clients. Subject to mutual agreement between the Client and EISHK, no interest shall be payable on the holding as CAL share of the total holdingsuch cash.
6.7 If8.4 Subject to Clause 8.5, in relation EISHK shall as soon as reasonably practicable after having been required to do so by instructions from the Client:
(a) (i) procure the registration of any Securities deposited with CAL but which are not registered from time to time in the Securities Account in the name of Client, in respect of which any loss is suffered the Client or a person notified by CAL there from, CAL is entitled to debit in the Account or alternatively demand payment by Client as may be agreed with being the amount of such against such portion equivalent to the amount of loss as the aforesaid of the total Securities held by CAL on behalf of Client.
6.8 CAL has not received from the Client any written authority under section 148 of the SFO to:-
6.8.1 deposit any associate of the Client's , or (ii) if so instructed, deliver the documents representing or evidencing the Securities with an authorized financial institution as collateral for financial accommodation to the Client or such associate whereupon such Securities shall cease to be in the course of dealings in securities or any other regulated activity which is licensed or registered made to CAL, or with a recognized clearing house; or another intermediary licensed or registered for dealing in securities as collateral for the discharge and satisfaction of CAL obligations and liabilities under the clearing systemSecurities Account;
6.8.2 apply or lend any of the Client's Securities pursuant to a securities borrowing and lending agreement; and
6.8.3 otherwise part with possession(except to Client or on Client's Instructions(b) of any of Client securities for any purpose.安信國際證券及／或其聯營公司可收取有關為客戶帳戶執行交易的現金或金錢回佣。該等回佣將由安信國際證券及／或其聯營公司於其帳戶保留。若安信國際證券及／或其聯營公司保留該等回佣，其有責任確保經紀佣金費不得超過慣常的全套服務收費。
Appears in 1 contract
Safekeeping of Securities. 6.1 Any Securities which are held by CAL for safekeeping may, at CAL’s discretion, either:-(a) The Lending Agent shall hold:
6.1.1 (i) all Collateral in the case form of registrable SecuritiesSecurities in a Securities Collateral Account; and
(ii) all other Securities received by the Lending Agent under this Agreement in a Securities Custody Account. In each case, the Lending Agent shall identify such Securities on its books and records as held for the account of the Client through use of a naming convention that identifies the Client and in a manner that indicates that the Securities do not beneficially belong to Lending Agent or other customers of the Lending Agent.
(b) Legal title to the Securities in the Securities Accounts shall be registered or recorded in any relevant record of legal entitlement in accordance with the rules set out in the Client Asset Rules (as amended from time to time). In accordance with such rules, the Lending Agent notifies the Client that the Securities may be registered in the name of:
(i) the Client;
(ii) a nominee company controlled by the Lending Agent or controlled by an Affiliate (a “Relevant Nominee Company”), or a nominee company appointed by a Sub-custodian or a Settlement System on such terms and conditions as any of the foregoing may require; or
(iii) the Lending Agent, a Sub-custodian or a Settlement System or otherwise as permitted by the Client Asset Rules. Where securities are registered or recorded in this manner, they may not be physically segregated from the securities of the Lending Agent, the Sub- custodian or Settlement System and in the event of the insolvency of the Lending Agent, the Sub-custodian or the Settlement System (as applicable), the Client’s name securities may not be as well protected from claims made by the creditors of the Lending Agent, the Sub-custodian or the Settlement System; provided that in each case that legal title to securities shall be registered or recorded in any relevant record of legal entitlement in accordance with the applicable Client Asset Rules. The Lending Agent accepts the same level of responsibility to the Client for any Relevant Nominee Company with respect to the requirements of the Client Asset Rules. Where registration is in the name of CAL’s nominee; or
6.1.2 be deposited in safe custody in a designated account with CAL’s bankers or with any other institution which provides facilities for the safe custody of documents. In Lending Agent, the case of Securities in Hong Kong, such institution shall be acceptable Lending Agent will include (where practicable) appropriate designation to the SFC as a provider of safe custody services. Any Securities kept outside Hong Kong shall be subject to the applicable laws, rules, regulations and customs and/or bye-laws.
6.2 CAL shall not bound to redeliver to the Client the identical Securities or certificates representing Securities received by CAL from or for the Client but may redeliver other Securities or certificates representing Securities of like kind and amount. CAL’s obligation shall be to deliver to the Client or the Client’s lawful representative such Securities or certificates representing Securities of like kind and amount at the office at which the Account is carried provided indicate that CAL shall not be responsible for the loss or damage to any Securities deposited with or assets are held by CAL or its agents or otherwise on its behalf, unless due to gross negligence or willful default on CAL’s or their part.
6.3 The Client acknowledges and agrees that Securities from time to time acquired and/or held through or in CCASS shall be held subject to and in accordance with CCASS rules. Where the Client has an Investor CCASS Account and specifies that Securities are to be held in the relevant Investor CCASS Account, such Securities shall, save where the context otherwise requires, be treated in this Agreement as held for the Account. The Client shall be responsible for all costs and expenses in respect of the Investor CCASS Account.
6.4 Where any Securities are held in the name of CAL or its nominee, unless CAL receives the Client’s Instruction or any Event of Default occurs, CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.5 Where Securities are registered in the name of CAL or its nominee and have been deposited under the terms hereof, CAL shall notify Client of information received by CAL which requires action to be taken by Client in relation to such Securities and to request, collect, receive and make payments or distributions attributable to such securities(“Corporate Action”) arising from acquisition, ownership, disposal, conversion, exchange or otherwise. However, CAL are authorized, at its discretion, to take such steps as CAL may consider expedient to enable CAL to provide the services in relation to Corporate Action and to exercise ▇▇▇ ▇▇▇▇▇▇ not to notify Client of any Corporate Action information and to receive any proxy voting forms without notice to Client. Unless CAL receives Instruction(which shall be deemed to include the default option specified in any notification and request for Instructions) CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.6 Where Securities are not registered in the Client’s name, any dividends or other benefits arising from Corporate Action in respect of such Securities pursuant to Clause 6.4 shall, when received by CAL, be credited to Account or paid or transferred to Client as agreed with CAL. Where the Securities form part of a larger holding of identical securities held for CAL clients, the Client shall be entitled to the same share of the benefits arising on the holding as CAL share of the total holding.
6.7 If, in relation to any Securities deposited with CAL but which are not registered in the name of Client, in respect of which any loss is suffered by CAL there from, CAL is entitled to debit in the Account or alternatively demand payment by Client as may be agreed with the amount of such against such portion equivalent to the amount of loss as the aforesaid of the total Securities held by CAL it on behalf of Clientits clients.
6.8 CAL has not received from (c) The Lending Agent shall hold all physical Securities in the Client any written authority under section 148 physical possession of the SFO to:-
6.8.1 deposit any of Lending Agent in such a manner that it is readily apparent that such Securities do not belong to the Client's Securities with an authorized financial institution as collateral for financial accommodation in the course of dealings in securities or any other regulated activity which is licensed or registered made to CALLending Agent, or with a recognized clearing house; or another intermediary licensed or registered Sub-custodian in a safe custody account generally designated for dealing in securities as collateral for Securities belonging to the discharge and satisfaction of CAL obligations and liabilities under the clearing system;
6.8.2 apply or lend any customer of the Client's Securities pursuant to a securities borrowing and lending agreement; and
6.8.3 otherwise part with possession(except to Client or on Client's Instructions) of any of Client securities for any purposeLending Agent.
Appears in 1 contract
Sources: Lending Lite Securities Lending Authorisation Agreement
Safekeeping of Securities. 6.1 8.1 Any Securities which are held by CAL MSCL for safekeeping pursuant to these Terms may, at CAL’s discretion, either:-MSCL's discretion and subject to applicable laws and regulations:
6.1.1 (a) (in the case of registrable Securitiesregisterable securities) be registered in the Client’s name of the Client or in the name of CAL’s nomineeMSCL or MSCL's associate; or
6.1.2 (b) be deposited in safe custody in a designated account of MSCL with CAL’s bankers a bank or with any other institution institutions which provides facilities for the safe custody of documentsSecurities and documents relating thereto. In the case of Securities securities in Hong Kong, such institution shall be acceptable to the SFC Securities and Futures Commission as a provider of safe custody services. Any Securities kept outside Hong Kong shall be subject to the applicable laws, rules, regulations and customs and/or bye-laws.
6.2 CAL shall not bound to redeliver to the Client the identical Securities or certificates representing Securities received by CAL from or for the Client but may redeliver other Securities or certificates representing Securities of like kind and amount. CAL’s obligation shall be to deliver to the Client or the Client’s lawful representative such Securities or certificates representing Securities of like kind and amount at the office at which the Account is carried provided that CAL shall not be responsible for the loss or damage to any Securities deposited with or held by CAL or its agents or otherwise on its behalf, unless due to gross negligence or willful default on CAL’s or their part.
6.3 8.2 The Client acknowledges and agrees that Securities from time to time acquired and/or held pursuant to these Terms through or in CCASS a Clearing System shall be held subject to and in accordance with CCASS rules. Where the applicable Rules.
8.3 MSCL shall be entitled to deposit all such cash and Securities of the Client has an Investor CCASS Account as are delivered to and specifies that accepted by MSCL or any of its sub-custodians and held pursuant to these Terms with such other bank or institution and on such terms as it may deem fit. Such cash or Securities are to may be held in the relevant Investor CCASS Account, such co-mingled with those of other clients (but not with cash or Securities shall, save where the context otherwise requires, be treated in this Agreement as held for the Account. The Client shall be responsible for all costs and expenses MSCL's own account), in respect of the Investor CCASS Account.
6.4 Where any Securities are held in the name of CAL or its nominee, unless CAL receives the Client’s Instruction or any Event of Default occurs, CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.5 Where Securities are registered in the name of CAL or its nominee and have been deposited under the terms hereof, CAL shall notify Client of information received by CAL which requires action to be taken by Client in relation to such Securities and to request, collect, receive and make payments or distributions attributable to such securities(“Corporate Action”) arising from acquisition, ownership, disposal, conversion, exchange or otherwise. However, CAL are authorized, at its discretion, to take such steps as CAL may consider expedient to enable CAL to provide the services in relation to Corporate Action and to exercise ▇▇▇ ▇▇▇▇▇▇ not to notify Client of any Corporate Action information and to receive any proxy voting forms without notice to Client. Unless CAL receives Instruction(which shall be deemed to include the default option specified in any notification and request for Instructions) CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.6 Where Securities are not registered in the Client’s name, any dividends or other benefits arising from Corporate Action in respect of such Securities pursuant to Clause 6.4 shall, when received by CAL, be credited to Account or paid or transferred to Client as agreed with CAL. Where the Securities form part of a larger holding of identical securities held for CAL clients, case the Client shall be entitled in common with the other clients to the same its proportionate share of such cash or Securities or the benefits arising rights thereto as are held by MSCL for the account of its clients. Subject to mutual agreement between the Client and MSCL, no interest shall be payable on the holding as CAL share of the total holdingsuch cash.
6.7 If8.4 Subject to Clause 8.5, in relation MSCL shall as soon as reasonably practicable after having been required to do so by instructions from the Client:
(a) (i) procure the registration of any Securities deposited with CAL but which are not registered from time to time in the Securities Account in the name of Client, in respect of which any loss is suffered the Client or a person notified by CAL there from, CAL is entitled to debit in the Account or alternatively demand payment by Client as may be agreed with being the amount of such against such portion equivalent to the amount of loss as the aforesaid of the total Securities held by CAL on behalf of Client.
6.8 CAL has not received from the Client any written authority under section 148 of the SFO to:-
6.8.1 deposit any associate of the Client's , or (ii) if so instructed, deliver the documents representing or evidencing the Securities with an authorized financial institution as collateral for financial accommodation to the Client or such associate whereupon such Securities shall cease to be in the course of dealings in securities or any other regulated activity which is licensed or registered made to CAL, or with a recognized clearing house; or another intermediary licensed or registered for dealing in securities as collateral for the discharge and satisfaction of CAL obligations and liabilities under the clearing systemSecurities Account;
6.8.2 apply or lend any of the Client's Securities pursuant to a securities borrowing and lending agreement; and
6.8.3 otherwise part with possession(except to Client or on Client's Instructions(b) of any of Client securities for any purpose.元富證券及／或其聯營公司可收取有關為客戶帳戶執行交易的現金或金錢回佣。該等回佣將由元富證券及／或其聯營公司於其帳戶保留。若元富證券及／或其聯營公司保留該等回佣，其有責任確保經紀佣金費不得超過慣常的全套服務收費。
Appears in 1 contract
Safekeeping of Securities. 6.1 Any 8.1. Subject to Clause 9.3, CHKLS shall ensure that all Securities which are deposited by the Client with CHKLS or purchased or acquired by CHKLS on behalf of the Client, and held by CAL CHKLS for safekeeping may, at CAL’s discretion, either:-
6.1.1 (safe keeping in Hong Kong are registered in the case Client’s name, or in the name of registrable CHKLS or any associated entity, or deposited in safe custody in a segregated account which is designated as a trust account or client account and established and maintained in Hong Kong by CHKLS for the purpose of holding client Securities of CHKLS with an authorized financial institution, an approved custodian or another intermediary licensed for dealing in Securities) be .
8.2. Subject to Clause 9.3, CHKLS shall ensure that all Securities collateral deposited with or otherwise provided by or on behalf of the Client to CHKLS are registered in the Client’s name or in the name of CAL’s nominee; or
6.1.2 be CHKLS, or deposited in safe custody in a segregated account which is designated as a trust account with CAL’s bankers or with any other institution which provides facilities client account and established and maintained in Hong Kong by CHKLS or an associated entity for the safe custody purpose of documents. In holding Securities collateral of CHKLS with an authorized financial institution, an approved custodian or another intermediary licensed for dealing in Securities, or deposited in an account in the case name of Securities CHKLS with an authorized financial institution, an approved custodian or another intermediary licensed for dealing in Hong Kong, such institution shall be acceptable to the SFC as a provider of safe custody servicesSecurities.
8.3. Any Securities kept outside Hong Kong and Securities collateral held by CHKLS, a financial institution, an approved custodian or another intermediary licensed for dealing in Securities pursuant to Clauses 8.1 and 8.2 shall be subject at the sole risk of the Client. CHKLS and the relevant financial institution, approved custodian or intermediary licensed for dealing in Securities shall be under no obligation to the applicable laws, rules, regulations and customs and/or bye-laws.
6.2 CAL shall not bound to redeliver to insure the Client the identical Securities or certificates representing Securities received by CAL from or for the Client but may redeliver other Securities or certificates representing Securities against any kind of like kind and amount. CAL’s risk, which obligation shall be to deliver to the Client or sole responsibility of the Client’s lawful representative such Securities or certificates representing Securities of like kind and amount at the office at which the Account is carried provided that CAL shall not be responsible for the loss or damage .
8.4. If, in relation to any Securities deposited with or held by CAL or its agents or otherwise on its behalf, unless due to gross negligence or willful default on CAL’s or their part.
6.3 The Client acknowledges and agrees that Securities from time to time acquired and/or held through or in CCASS shall be held subject to and in accordance with CCASS rules. Where the Client has an Investor CCASS Account and specifies that Securities are to be held in the relevant Investor CCASS Account, such Securities shall, save where the context otherwise requires, be treated in this Agreement as held for the Account. The Client shall be responsible for all costs and expenses in respect of the Investor CCASS Account.
6.4 Where any Securities are held in the name of CAL or its nominee, unless CAL receives the Client’s Instruction or any Event of Default occurs, CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.5 Where Securities are registered in the name of CAL or its nominee and have been deposited under the terms hereof, CAL shall notify Client of information received by CAL CHKLS which requires action to be taken by Client in relation to such Securities and to request, collect, receive and make payments or distributions attributable to such securities(“Corporate Action”) arising from acquisition, ownership, disposal, conversion, exchange or otherwise. However, CAL are authorized, at its discretion, to take such steps as CAL may consider expedient to enable CAL to provide the services in relation to Corporate Action and to exercise ▇▇▇ ▇▇▇▇▇▇ not to notify Client of any Corporate Action information and to receive any proxy voting forms without notice to Client. Unless CAL receives Instruction(which shall be deemed to include the default option specified in any notification and request for Instructions) CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.6 Where Securities are not registered in the Client’s name, any dividends or other distributions or benefits arising from Corporate Action accrue in respect of such Securities pursuant to Clause 6.4 shallSecurities, when received by CAL, the Margin Account shall be credited (or payment made to Account or paid or transferred to the Client as agreed may be agreed) with CAL. Where the proportion of such benefit equal to the proportion of the Securities form part held on behalf of a larger holding of identical securities held for CAL clients, the Client shall be entitled to the same share of the benefits arising on the holding as CAL share out of the total holdingnumber or amount of such Securities.
6.7 8.5. In respect of any Securities held on the Client’s behalf, if CHKLS is notified that any voting and/or any other rights or privileges (including without limitation conversion and subscription rights and any rights or privileges arising in connection with takeovers, other offers or capital reorganizations) attaching to those Securities may be exercised, CHKLS will use reasonable endeavors to notify the Client as soon as reasonably practicable of such rights and/or privileges. If the Client unambiguously informs CHKLS in writing within fourteen (14) Business Days of such notice (or such shorter period as may be specified or appropriate) that the Client wishes CHKLS to exercise the rights and/or privileges and the Client has sufficient cleared funds in the Account., CHKLS will do so but only on such terms as the Client advices in writing and which are reasonably acceptable to CHKLS. Otherwise, CHKLS will not exercise any such rights and/or privileges. Notwithstanding the absence of satisfactory instructions or sufficient funds, in the event that CHKLS notified that subscription rights attaching to any Securities that CHKLS holds on the Client’s behalf, CHKLS may in its absolution discretion dispose of such rights on the Client’s behalf in such manner as CHKLS thinks fit.
8.6. If CHKLS is notified by any company in which CHKLS holds Securities on Client’s behalf, that such company intends to make calls upon those Securities in respect of any monies whatsoever unpaid on them, CHKLS will use reasonable endeavors to notify the Client as soon as practicable of such calls. If the Client provides CHKLS with the relevant funds in sufficient time for CHKLS to do so, CHKLS will satisfy such calls on the Client’s behalf and on such terms as the Client advices in writing and which are reasonably practicable to CHKLS. Otherwise CHKLS will take no action on the Client’s behalf and will have no liability whatsoever in respect of the consequences of a failure to satisfy the calls made. However, where CHKLS is legally liable to meet such calls CHKLS may do so and the Client will reimburse CHKLS forthwith upon demand.
8.7. If, in relation to any Securities deposited with CAL but CHKLS which are not registered in the name of the Client, in respect of which any loss is suffered by CAL there fromCHKLS, CAL is entitled to debit in the Margin Account may be debited (or alternatively demand payment made by the Client as may be agreed agreed) with the proportion of such loss equal to the proportion of the Securities held on behalf of the Client out of the total number or amount of such against such portion equivalent to the amount of loss as the aforesaid of the total Securities held by CAL on behalf of ClientSecurities.
6.8 CAL has not received from the Client any written authority under section 148 of the SFO to:-
6.8.1 deposit any of the Client's Securities with an authorized financial institution as collateral for financial accommodation in the course of dealings in securities or any other regulated activity which is licensed or registered made to CAL, or with a recognized clearing house; or another intermediary licensed or registered for dealing in securities as collateral for the discharge and satisfaction of CAL obligations and liabilities under the clearing system;
6.8.2 apply or lend any of the Client's Securities pursuant to a securities borrowing and lending agreement; and
6.8.3 otherwise part with possession(except to Client or on Client's Instructions) of any of Client securities for any purpose.
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Safekeeping of Securities. 6.1 (a) Any Securities which are held by CAL HKSICL for safekeeping may, at CAL’s HKSICL 's discretion, either:-:
6.1.1 (i) (in the case of registrable Securities) be registered in the Client’s 's name or in the name of CAL’s HKSICL 's nominee; or
6.1.2 (ii) be deposited deposited, at the Client’s costs, in safe custody in a designated account with CAL’s HKSICL 's bankers or with any other institution which provides facilities for the safe custody of documents. In the case of Securities in Hong Kong, such institution shall be acceptable to approved by the SFC as a provider of safe custody services. Any Securities kept outside Hong Kong shall be subject to the applicable laws, rules, regulations and customs and/or bye-lawscustodyservices.
6.2 CAL shall not bound to redeliver to the Client the identical Securities or certificates representing Securities received by CAL from or for the Client but may redeliver other Securities or certificates representing Securities of like kind and amount. CAL’s obligation shall be to deliver to the Client or the Client’s lawful representative such Securities or certificates representing Securities of like kind and amount at the office at which the Account is carried provided that CAL shall not be responsible for the loss or damage to any Securities deposited with or held by CAL or its agents or otherwise on its behalf, unless due to gross negligence or willful default on CAL’s or their part.
6.3 The Client acknowledges and agrees that Securities from time to time acquired and/or held through or in CCASS shall be held subject to and in accordance with CCASS rules. Where the Client has an Investor CCASS Account and specifies that Securities are to be held in the relevant Investor CCASS Account, such Securities shall, save where the context otherwise requires, be treated in this Agreement as held for the Account. The Client shall be responsible for all costs and expenses in respect of the Investor CCASS Account.
6.4 Where any Securities are held in the name of CAL or its nominee, unless CAL receives the Client’s Instruction or any Event of Default occurs, CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.5 Where Securities are registered in the name of CAL or its nominee and have been deposited under the terms hereof, CAL shall notify Client of information received by CAL which requires action to be taken by Client in relation to such Securities and to request, collect, receive and make payments or distributions attributable to such securities(“Corporate Action”(b) arising from acquisition, ownership, disposal, conversion, exchange or otherwise. However, CAL are authorized, at its discretion, to take such steps as CAL may consider expedient to enable CAL to provide the services in relation to Corporate Action and to exercise ▇▇▇ ▇▇▇▇▇▇ not to notify Client of any Corporate Action information and to receive any proxy voting forms without notice to Client. Unless CAL receives Instruction(which shall be deemed to include the default option specified in any notification and request for Instructions) CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.6 Where Securities are not registered in the Client’s 's name, any dividends or other benefits arising from Corporate Action in respect of such Securities pursuant to Clause 6.4 shall, when received by CALHKSICL, be credited to the Client's Account or paid or transferred to the Client after deduction of the relevant charges, as agreed with CALHKSICL. Where the Securities form part of a larger holding of identical securities Securities held for CAL clientsthe Clients, the Client shall will be entitled to the same share of the benefits arising on the holding as CAL the Client's share of the total holding.
6.7 If, in relation (c) The Client agrees to any Securities deposited with CAL but which are not registered in pay service charges upon the name of Client, Account at such rates and on such other terms as HKSICL has stipulated at its discretion and notified the Client from time to time in respect of which any loss is suffered by CAL there fromthe safe custody services.
(d) Save for the Margin Client, CAL is entitled HKSICL as a broker who does not have the Client's written authority pursuant to debit in the Account or alternatively demand payment by Client as may be agreed with the amount of such against such portion equivalent to the amount of loss as the aforesaid section 7(2) of the total Securities held by CAL on behalf of Client.and Futures (Client Securities) Rules shall not:
6.8 CAL has not received from the Client any written authority under section 148 of the SFO to:-
6.8.1 (i) deposit any of the Client's Securities with an authorized financial a banking institution as collateral for financial accommodation in the course of dealings in securities an advance or any other regulated activity which is licensed or registered loan made to CALHKSICL, or with a recognized clearing house; or another intermediary licensed or registered for dealing in securities the HKSCC as collateral for the discharge and satisfaction of CAL HKSICL 's obligations and liabilities under the clearing system;
6.8.2 apply (ii) borrow or lend any of the Client's Securities pursuant to a securities borrowing and lending agreementSecurities; and
6.8.3 (iii) otherwise part with possession(except possession (except to the Client or on the Client's Instructions) of any of the Client's Securities.
(e) Subject to settlement of all outstanding balances of any and all of the Accounts owing to HKSICL (if any), Securities purchased for the Client securities for will be delivered to the Client provided that:
(i) such Securities are fully paid; and
(ii) such Securities are not subject to any purposelien.
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Sources: Client Agreement
Safekeeping of Securities. 6.1 8.1 Any Securities which are held by CAL SDICSI SECURITIES for safekeeping pursuant to these Terms may, at CAL’s discretion, either:-SDICSI SECURITIES's discretion and subject to applicable laws and regulations:
6.1.1 (a) (in the case of registrable Securitiesregisterable securities) be registered in the Client’s name of the Client or in the name of CAL’s nomineeSDICSI SECURITIES or SDICSI SECURITIES's Associate; or
6.1.2 (b) be deposited in safe custody in a designated account of SDICSI SECURITIES with CAL’s bankers a bank or with any other institution institutions which provides facilities for the safe custody of documentsSecurities and documents relating thereto. In the case of Securities securities in Hong Kong, such institution shall be acceptable to the SFC Securities and Futures Commission as a provider of safe custody services. Any Securities kept outside Hong Kong shall be subject to the applicable laws, rules, regulations and customs and/or bye-laws.
6.2 CAL shall not bound to redeliver to the Client the identical Securities or certificates representing Securities received by CAL from or for the Client but may redeliver other Securities or certificates representing Securities of like kind and amount. CAL’s obligation shall be to deliver to the Client or the Client’s lawful representative such Securities or certificates representing Securities of like kind and amount at the office at which the Account is carried provided that CAL shall not be responsible for the loss or damage to any Securities deposited with or held by CAL or its agents or otherwise on its behalf, unless due to gross negligence or willful default on CAL’s or their part.
6.3 8.2 The Client acknowledges and agrees that Securities from time to time acquired and/or held pursuant to these Terms through or in CCASS a Clearing System shall be held subject to and in accordance with CCASS rules. Where the applicable Rules.
8.3 SDICSI SECURITIES shall be entitled to deposit all such cash and Securities of the Client has an Investor CCASS Account as are delivered to and specifies that accepted by SDICSI SECURITIES or any of its sub-custodians and held pursuant to these Terms with such other bank or institution and on such terms as it may deem fit. Such cash or Securities are to may be held in the relevant Investor CCASS Account, such co-mingled with those of other clients (but not with cash or Securities shall, save where the context otherwise requires, be treated in this Agreement as held for the Account. The Client shall be responsible for all costs and expenses SDICSI SECURITIES's own account), in respect of the Investor CCASS Account.
6.4 Where any Securities are held in the name of CAL or its nominee, unless CAL receives the Client’s Instruction or any Event of Default occurs, CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.5 Where Securities are registered in the name of CAL or its nominee and have been deposited under the terms hereof, CAL shall notify Client of information received by CAL which requires action to be taken by Client in relation to such Securities and to request, collect, receive and make payments or distributions attributable to such securities(“Corporate Action”) arising from acquisition, ownership, disposal, conversion, exchange or otherwise. However, CAL are authorized, at its discretion, to take such steps as CAL may consider expedient to enable CAL to provide the services in relation to Corporate Action and to exercise ▇▇▇ ▇▇▇▇▇▇ not to notify Client of any Corporate Action information and to receive any proxy voting forms without notice to Client. Unless CAL receives Instruction(which shall be deemed to include the default option specified in any notification and request for Instructions) CAL shall not attend any meeting or exercise any voting or other rights including the completion of proxies.
6.6 Where Securities are not registered in the Client’s name, any dividends or other benefits arising from Corporate Action in respect of such Securities pursuant to Clause 6.4 shall, when received by CAL, be credited to Account or paid or transferred to Client as agreed with CAL. Where the Securities form part of a larger holding of identical securities held for CAL clients, case the Client shall be entitled in common with the other clients to the same its proportionate share of such cash or Securities or the benefits arising rights thereto as are held by SDICSI SECURITIES for the account of its clients. Subject to mutual agreement between the Client and SDICSI SECURITIES, no interest shall be payable on the holding as CAL share of the total holdingsuch cash.
6.7 If8.4 Subject to Clause 8.5, in relation SDICSI SECURITIES shall as soon as reasonably practicable after having been required to do so by instructions from the Client:
(a) (i) procure the registration of any Securities deposited with CAL but which are not registered from time to time in the Securities Account in the name of Client, in respect of which any loss is suffered the Client or a person notified by CAL there from, CAL is entitled to debit in the Account or alternatively demand payment by Client as may be agreed with being the amount of such against such portion equivalent to the amount of loss as the aforesaid of the total Securities held by CAL on behalf of Client.
6.8 CAL has not received from the Client any written authority under section 148 of the SFO to:-
6.8.1 deposit any associate of the Client's , or (ii) if so instructed, deliver the documents representing or evidencing the Securities with an authorized financial institution as collateral for financial accommodation to the Client or such associate whereupon such Securities shall cease to be in the course of dealings in securities or any other regulated activity which is licensed or registered made to CAL, or with a recognized clearing house; or another intermediary licensed or registered for dealing in securities as collateral for the discharge and satisfaction of CAL obligations and liabilities under the clearing systemSecurities Account;
6.8.2 apply or lend (b) transfer any sum specified in instructions of the Client from the Securities Account to such bank account of the Client as the Client may advise and such transfer shall be deemed to be a good discharge of the obligation to make payment to the Client's Securities pursuant to a securities borrowing and lending agreement; and
6.8.3 otherwise part with possession(except to Client or on Client's Instructions) of any of Client securities for any purpose.
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