Client Securities Standing Authority Sample Clauses
The Client Securities Standing Authority clause authorizes a financial institution or broker to handle, transfer, or otherwise deal with a client's securities on an ongoing basis without needing separate instructions for each transaction. In practice, this means the institution can move, pledge, or use the client's securities for purposes such as settling trades, meeting margin requirements, or facilitating lending activities, as long as these actions are within the agreed terms. This clause streamlines operations and ensures efficiency in managing client assets, while also clarifying the scope of the institution's authority and reducing administrative delays.
Client Securities Standing Authority. 9.1 The Client Securities Standing Authority is in respect of the treatment of the Client's securities or securities collateral as set out below. The Client authorizes WLSL to:
(1) apply any of the Client's securities or securities collateral pursuant to a securities borrowing and lending agreement;
(2) deposit any of the Client's securities collateral with an authorized financial institution as collateral for financial accommodation provided to WLSL;
(3) deposit any of the Client's securities collateral with HKSCC as collateral for the discharge and satisfaction of WLSL's settlement obligations and liabilities. The Client understands that HKSCC will have a first fixed charge over the Client's securities to the extent of WLSL's obligations and liabilities;
(4) deposit any of the Client's securities collateral with any other recognized clearing house, or another intermediary licensed or registered for dealing in securities, as collateral for the discharge and satisfaction of WLSL's settlement obligations and liabilities; and
(5) apply or deposit any of the Client's securities collateral in accordance with Clauses 9.1(1), 9.1(2), 9.1(3) and/or 9.1(4) above if WLSL provides financial accommodation to the Client in the course of dealing in securities and also provides financial accommodation to the Client in the course of any other regulated activity for which WLSL is licensed or registered.
9.2 The Client acknowledges and agrees that WLSL may do any of the things set out in Clauses 9.1 and 9.2 without giving the Client notice.
9.3 The Client also acknowledges that the Client Securities Standing Authority shall not affect WLSL's right to dispose or initiate a disposal by WLSL's associated entity of the Client's securities or securities collateral in settlement of any liability owed by or on behalf of the Client to WLSL, the associated entity or a third person.
Client Securities Standing Authority. I/We hereby authorize you and any of your associated entities (as defined in Part 1 of Schedule 1 to the Securities and Futures Ordinance) to:
(a) apply any of my/our securities in the Securities Account or securities collateral in the Margin Securities Account pursuant to a securities borrowing and lending agreement;
(b) deposit any of my/our securities collateral in the Margin Securities Account with an authorized institution as collateral for financial accommodation provided to you;
(c) deposit any of my/our securities collateral in the Margin Securities Account with a recognized clearing house or another intermediary licensed or registered for dealing in securities as collateral for the discharge and satisfaction of your settlement obligations and liabilities. The term of my/our consent contained in this Clause 6.6 shall be for a period of twelve months from the date on which I/we agree to be bound by these Additional Terms, and may be renewed or shall be deemed to be renewed upon its expiry date for a further period of twelve months in such manner as may be required by applicable laws, regulations and codes of conduct from time to time. I/We may withdraw my/our such consent by giving not less than seven (7) days' prior written notice to you but in such a case, you may terminate the Credit Facilities granted to me/us.
Client Securities Standing Authority. 6.1 By entering into this Margin Client Agreement, you hereby agree to provide your Client Securities Standing Authority set out under Clause 6.2 in respect of the Client’s Securities and Collateral, subject to your right to revoke such Client Securities Standing Authority at any time in accordance with Clause 6.7. You understand and acknowledge the risks to you associated with giving the Client Securities Standing Authority. If you do not agree to provide such Client Securities Standing Authority at the time of entering into this Margin Client Agreement, you shall submit a written notice to us together with your completed Account Application Form which indicates clearly that you do not agree to give such Client Securities Standing Authority to us.
6.2 You hereby authorise us to:
(i) apply any of your Securities or Collateral pursuant to a securities borrowing and lending agreement between us and a third party, subject to compliance with the Client Securities Rules and/or other applicable regulatory rules;
(ii) subject to the Client Securities Rules regarding repledging limits, deposit any of your Collateral with an authorised financial institution as Collateral for financial accommodation provided to us;
(iii) deposit any of your Collateral with HKSCC as collateral for the discharge and satisfaction of our settlement obligations and liabilities. You understand that HKSCC will have a fixed charge over your securities to the extent of our obligation and liabilities;
(iv) deposit any of your Collateral with any other recognised clearing house, or another intermediary licensed or registered for dealing in securities, as collateral for the discharge and satisfaction of our settlement obligations and liabilities; and
(v) apply or deposit any of your Collateral in accordance with Clauses 6.2(i), 6.2(ii), 6.2(iii) and/or 6.2(iv) above if we provide financial accommodation to you in the course of dealing in securities and also provides financial accommodation to you in the course of any other regulated activity for which we are licensed or registered.
6.3 You acknowledge and agree that we may do any of the things set out in this Clause 6 without giving you further notice.
6.4 You also acknowledge that:
(i) You have been informed of the repledging practice of us and you have provided us with a standing authority to repledge your Securities or Collateral;
(ii) the Client Securities Standing Authority is given without prejudice to other authorities or rights which we...
Client Securities Standing Authority. 客戶證券常設授權
3.1. Unless otherwise specified, all the expressions used in this Clause have the meaning ascribed to them in the SFO and the Client Securities Rules as amended from time to time. 除文義另有訂明外，本條所用的詞具有《證券及期貨條例》及《證券及期貨（客戶證券）規則》不時修訂所賦予的意義。
3.2. The Client authorizes the Company to, in the Company’s sole discretion and without having to give prior notice to or obtain the prior confirmation and/or direction of the Client: 客戶授權本公司在無須事先給予客戶任何通知或取得客戶的確認及╱或指示的情況下可酌情：
(a) apply any of the Client’s Securities pursuant to a securities borrowing and lending agreement; 根據一份證券借貸協議運用客戶之任何證券；
(b) deposit any of the Client’s Securities Collateral with HKSCC or an authorized financial institution, as collateral for financial accommodation provided to the Company and/or for the discharge and satisfaction of the Company’s settlement obligations and liabilities and the Client understands and agrees that HKSCC or the authorized financial institution will have a first fixed charge over the Client’s Securities Collateral to the extent of the Company’s obligations and liabilities; 將客戶之任何證券抵押品存入香港結算或認可財務機構，作為向本公司提供財務通融及╱或履行及清償本公司之交收責任及法律責任的抵押品並且客戶明白及同意香港結算或該認可財務機構對客戶之證券抵押品將有第一固定押記權但僅以本公司之責任及法律責任為限；
(c) deposit any of the Client’s Securities Collateral with a Clearing House, or another intermediary licensed or registered for dealing in Securities, as collateral for the discharge and satisfaction of the Company’s settlement obligations and liabilities;將客戶之任何證券抵押品存入結算所，或另一獲發牌或註冊以進行證券交易的中介人，作為履行及清償本公司之交收責任及法律責任的抵押品；
(d) upon such terms as may be agreed by the Company but subject to applicable laws and regulations, deposit or transfer the Client’s Securities and/or Securities Collateral with, to or interchangeably between any custodian and/or Clearing House, whether in Hong Kong or elsewhere; 按本公司同意之條款但受制於適用的法律及法規，將客戶之證券及╱或證券抵押 品存入在香港或其他地方的任何一個或多個保管人及╱或結算所或於它們間互相轉移；
(e) upon such terms as may be agreed by the Company but subject to applicable laws and regulations, register or reregister any of the Client’s Securities or Securities Collateral in the name of the Company or any nominee appointed or agreed by the Company (whether in Hong Kong or elsewhere) or cancel any such registration; and 按本公司同意之條款但受制於適用的法律及法規，以本公司或本公司指定或同意的任何代名人（不論在香港或其他地方）之名註冊或重新註冊客戶 之證券或證券抵押品或註銷任何該等註冊；及
(f) apply, deposit or otherwise deal with any of the Client’s Securities Collateral in accordance with (a) to (e) of this Clause if the Company provides financial accommodation to the Client in the course of deal...