CAPACITY AND POWERS. The Account Holder must be a legally competent person or must be duly represented if incompetent. Where the Account Holder is a legally incompetent person and according to the applicable system of representation, the Account Holder or his/her representative will provide SGSS with a copy of the decision of the guardianship judge warranting the system of representation and allowing the account operation methods to be determined. The securities account can be opened and operated with the signature of one or more authorised agents appointed for this purpose by separate instrument. If the Account Holder is a legal entity, the securities account may be opened and operated with the signature of the legal representative or a duly authorised person. According to its legal form, the legal entity Account Holder shall provide SGSS with all documents proving the powers of the representatives authorised to operate the securities account. These powers will become null and void should the legal entity Account Holder be subject to a class action. When the legal entity Account Holder is acting as an intermediary holding securities on behalf of a third party or as a qualified investor, it must specify this when opening the account and immediately inform SGSS of any change in its status.
Appears in 4 contracts
Samples: Securities Account Agreement, Securities Account Agreement, Securities Account Agreement
