Examples of Recognised Clearing System in a sentence
Taxation of Shareholders in Ireland Interpretation For the purpose of determining the Irish tax liability of any Shareholder, payments made by the Company to a Shareholder who holds Shares which are held in a Recognised Clearing System, will be deemed to be payments from which tax has not been deducted.
In such circumstances, the relevant Funds will apply for admission for clearing and settlement through an appropriate Recognised Clearing System.
As the Company is an Irish company, the operation of a Recognised Clearing System in respect of any dematerialised Shares would be governed by the Companies Act, 1990 (Uncertificated Securities) Regulations, 1996.
To the extent Shares are issued in dematerialised form, such Shares may also be transferred in accordance with the rules of the relevant Recognised Clearing System.
It is the current intention of the Directors that all of the Shares will be held in a Recognised Clearing System.