Examples of Authorized Participant Unallocated Account in a sentence
After gold has been first credited to an Authorized Participant Unallocated Account in connection with the creation of a Basket, the Custodian transfers the credited amount from the Authorized Participant Unallocated Account to the Trust Unallocated Account.
No fees will be charged by the Custodian for the use of the Authorized Participant Unallocated Account as long as the Authorized Participant Unallocated Account is used solely for gold transfers to and from the Trust Unallocated Account and the Custodian (or one of its affiliates) receives compensation for maintaining the Trust Allocated Account.
When delivering gold, the bullion dealer allocates physical gold from its general stock to the account holder with a corresponding debit being made to the amount of gold credited to the unallocated account.Transfers of GoldFor each creation of a Basket, gold is transferred to the Trust by a debit to an Authorized Participant Unallocated Account and a credit to the Trust Unallocated Account.
Gold transferred from an Authorized Participant Unallocated Account to the Trust in unallocated form is first credited to the Trust Unallocated Account.
Transfers into the Trust Unallocated AccountThe Custodian credits to the Trust Unallocated Account the amount of gold it receives from the Trust Allocated Account, an Authorized Participant Unallocated Account or from other third party unallocated accounts for credit to the Trust Unallocated Account.
If the cash redemption amount is negative, the credit to the Authorized Participant Unallocated Account is reduced by the number of ounces of gold equal in value to the negative cash redemption amount, determined at the price of gold used in calculating the NAV of the Trust on the redemption order date.
The Trustee’s determination of the Creation Basket Deposit shall be final and binding on all persons interested in the Trust.Delivery of Required DepositsAn Authorized Participant who places a purchase order is responsible for crediting its Authorized Participant Unallocated Account with the required gold deposit amount by the end of the second business day in London following the purchase order date.
The recent DWP review of evidence67 examined in particular Tax Credits in the UK; In Work Payments in Denmark and the Netherlands (which top up wages to the level they would be without reduced earnings capacity); and the Resting Disability Pension (RDP) in Sweden.
Upon receipt of the gold deposit amount, the Custodian, after receiving appropriate instructions from the Authorized Participant and the Trustee, will transfer on the third business day following the purchase order date the gold deposit amount from the Authorized Participant Unallocated Account to the Trust Unallocated Account and the Trustee will direct DTC to credit the number of Baskets ordered to the Authorized Participant’s DTC account.
Credits to its Authorized Participant Unallocated Account are therefore at risk of the Custodian's insolvency.