Securities of companies in Sample Clauses

Securities of companies in compulsory liquidation The Client may hold, in the Bank’s books, securities whose issuer is the subject of compulsory liquidation proceedings or equivalent proceedings on the basis of foreign law. The commencement of compulsory liquidation proceedings against a listed company shall result in the delisting of the securities of the company concerned; shareholders shall be inf ormed of the delisting of the security and the arrangements for such delisting (where applicable, with an indication of the loss of the value of the securities). In such a situation, the Client authorises the Bank, when the time comes, to transfer in pure registered form, directly to the issuer’s books, the securities subject to compulsory liquidation proceedings or equivalent proceedings on the basis of foreign law. The securities shall remain negotiable after the dissolution of the company and until the closure of the liquidation operations. In addition, until that date, they must be maintained in registered form in order to guarantee the shareholder’s subsequent rights (f or example, the right to a possible liquidation surplus).
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