Examples of BEE Securities in a sentence
In respect of clause 24.2, the Registered Shareholder will be obliged within 10 (ten) days after receipt of notice from that Specified Issuer, to instruct the CSDP to effect transfer of the Specified BEE Securities issued by that Specified Issuer out of the account in the name of the Registered Shareholder into an account in the name of that Specified Issuer’s Nominee.
In respect of clauses 17.2, 18.2, 18.4, 19.2, 19.4 and 24.2, the Registered Shareholder will be obliged within 10 (ten) days after receipt of notice from a Specified Issuer, to instruct the CSDP to effect transfer of the Specified BEE Securities issued by that Specified Issuer out of the account in the name of the Registered Shareholder into an account in the name of that Specified Issuer’s Nominee, unless the Specified Issuer has elected itself to buy back those Specified BEE Securities.
The JSE Rules are designed to ensure and record that a proposed registered owner or proposed beneficial owner of BEE Securities qualifies as a BEE compliant person.
You acknowledge that you shall not be entitled to deal in BEE Securities unless a valid BEE Contract has been signed by you or the proposed beneficial owner of the BEE Securities as the case may be and the other requirements contained in the JSE Rules have been complied with.
Please advise Sasfin well in advance if you intend to deal in BEE Securities so that the necessary compliance arrangements can be achieved.