DEALING ROUTING SERVICE. 12.1 By submitting any instruction to transact in securities using the Computershare Dealing Routing Service ("dealing service") the Client agrees to the following provisions: 12.1.1 The Client may only give instructions to transact in any security by means of the telephonic service when operational. Instructions will not be accepted by any other means, including without limitation, fax, electronic mail, and photocopied forms or through the Internet. Computershare reserves the right to alter the times that the telephonic service is available. 12.1.2 Computershare will not carry out any instruction to transact securities on behalf of the Client unless it is satisfied that the Client has been recorded as the owner of the securities in Computershare’s records. 12.1.3 The Client may only use the dealing service if his securities are registered in the South African sub-register maintained and operated by Computershare. 12.1.4 Computershare will endeavour to inform the Client if an instruction given by the Client will not be carried out unless Computershare has good reason for not doing so. Computershare will not be liable for refusing to carry out any instruction if it has good reason for not doing so. 12.1.5 Any instruction submitted by another person on behalf of the Client should not be recognised unless an original power of attorney or other appropriate authority (or a complete copy thereof certified by a Commissioner of Oaths) has been received and accepted by Computershare. 12.1.6 All instructions given by the Client to the dealing service are irrevocable and shall be dealt with on the business day immediately following the business day on which they were received and failing that as soon as reasonably possible thereafter. 12.1.7 In the event that Computershare’s nominated stockbroker is unable to process the entire trade due to there being insufficient buyers or sellers in the market, the balance of the trade will be kept pending by the broker for a 30 day period in terms of standard market practice. 12.1.8 Computershare will thereafter endeavour to notify the Client of the status of the trade and the Client shall upon receipt of Computershare’s notification provide a replacement instruction or cancel the balance of the trade. 12.1.9 No limit order or raise order will be accepted by Computershare. The Client acknowledges that prices may fluctuate from the time the instruction is given until the time that the transaction is executed. 12.1.10 By submitting an instruction to Computershare to arrange to sell any security on his behalf, the Client warrants that- 12.1.10.1 he has not sold or purported to sell the securities or the interest in any security to any third party; 12.1.10.2 the securities will be sold free from all liens, charges or other third party rights or any encumbrance of any kind; 12.1.10.3 he is entitled to sell the securities; 12.1.10.4 the sale will not constitute a breach by the Client of any applicable laws and regulations; and 12.1.10.5 he is not a minor, or if he is a minor, that he is properly assisted by a parent or court appointed guardian. 12.1.11 The Client irrevocably undertakes that he will do, or procure to be done, all acts and things, and execute or procure the execution of all such documents as Computershare may from time to time require to give effect to any instruction by the Client. 12.1.12 The dealing service shall be operated strictly on an “execution only” basis. Computershare shall not provide, or have any responsibility to provide any financial, taxation or other advice to the Client. 12.1.13 A transaction in any security through the dealing service will be executed by a stockbroker appointed by Computershare. By submitting an instruction to Computershare the Client irrevocably authorises Computershare to appoint a stockbroker to execute the transaction on behalf of the Client on the basis that- 12.1.13.1 Computershare will instruct a stockbroker to obtain the best price reasonably available in the market at the time of dealing. If no such price can be ascertained, the stockbroker will take reasonable care to carry out the instruction at a price which is fair and reasonable; and 12.1.13.2 Computershare shall, to the exclusion of all others including the Client, be entitled to bring any action, suit or proceedings (“Actions”) against the stockbroker arising out of or in connection with the sale. Computershare shall, in its sole discretion, determine the nature and scope of such Actions. By submitting an instruction to Computershare the Client waives his right in relation to such Actions. 12.1.14 The stockbroker appointed by Computershare may aggregate any instruction with those of other holders of securities transacting securities through the dealing service but may not aggregate the sale with any other clients of the stockbroker, provided that any aggregation shall take place in accordance with the Rules of the JSE. 12.1.14.1 The price per security that the Client will receive in the case of transactions that are aggregated will be the total proceeds of all aggregated transactions in the relevant period less all costs of the transactions divided by the number of securities sold in such transactions; 12.1.14.2 The price per security that the Client will receive where transactions are not aggregated will be the price at which such securities are sold in the relevant period less all costs of the sale; 12.1.14.3 The proceeds payable to the Client shall be rounded down, where necessary, to the nearest whole Rand. Resulting fractions of any Rand will be aggregated and may be retained by Computershare. 12.1.14.4 Each security aggregated with other securities being transacted through the dealing service in any relevant period will only be treated as sold when it is actually sold by the dealing service. 12.1.15 Orders executed through the service shall be subject to the charges published from time to time, initially as set out in Schedule A to this Agreement. 12.1.16 Computershare may vary the amount, rate or basis of charges from time to time and may introduce new charges. 12.1.17 Fees, taxes, charges and other expenses of whatever nature incurred on behalf of the Client will be deducted from the proceeds of any transaction. 12.1.18 Instructions to carry out more than one transaction will be treated as separate transactions and each such transaction shall be charged separately. 12.1.19 All transactions will take place on the JSE. 12.1.20 Computershare will subject to applicable exchange control legislation and regulations pay to the Client the proceeds of any sale in accordance with the Client’s instructions detailed in Part B of this Agreement. 12.1.21 Advice of any transaction will be included in a transaction statement sent to the Client. 12.1.22 Computershare may terminate the dealing service at any time without giving notice thereof to the Client. All valid instructions given to the dealing service in accordance with this Agreement before termination will be carried out. 12.1.23 Transactions will be carried out and records relating to instructions by the Client will be kept according to the rules, customs and practices of the JSE. 12.1.24 If the dealing service cannot perform any of its services under this Agreement due to circumstances beyond its reasonable control, Computershare will take all reasonable steps to bring such circumstances to an end, but Computershare shall not be liable for any non-performance of the dealing service. 12.1.25 Without prejudice to any stockbroker’s obligations to execute transactions on the JSE, when a stockbroker executes an instruction given to the dealing service the Client acknowledges that the stockbroker could be acting as principal for its own account. By submitting an instruction to the dealing service the Client consents, where applicable, to the stockbroker acting as principal for its own account. 12.1.26 The Client indemnifies Computershare and those persons acting on his behalf in relation to the provision of the dealing service and their respective directors, employees and agents against any liability (except to the extent that the liability is caused by Computershare or such persons own default, negligence or fraud) which it or they may incur as a result of the dealing service. 12.1.27 Computershare does not receive any brokerage commission in lieu of execution of trades.
Appears in 4 contracts
Samples: Custody and Settlement Agreement, Custody and Settlement Agreement, Custody and Settlement Agreement
DEALING ROUTING SERVICE. 12.1 For the avoidance of doubt, the following terms and conditions do not apply to the free share dealing service being offered in relation to Quilter plc and Old Mutual Limited shares as part of the managed separation of Old Mutual plc, as set out in the scheme circular issued by Old Mutual plc dated 20 April 2018. By submitting any instruction to transact in securities Securities using the Computershare PCN Dealing Routing Service ("“dealing service"”) the Client agrees to the following provisions:
12.1.1 : • The Client may only give instructions to transact in any security Security by means of the telephonic service when operational. Instructions will not also be accepted by any other means, including without limitation, way of fax, electronic e-mail, and photocopied forms or through the Internetforms. Computershare PCN reserves the right to alter the times that the telephonic service is available.
12.1.2 Computershare . • PCN will not carry out any instruction to transact securities Securities on behalf of the Client unless it is satisfied that the Client has been recorded as the owner beneficial holder of the securities Securities in ComputersharePCN’s records.
12.1.3 . • The Client may only use the dealing service if his securities his/her/its Securities are or will be registered in the South African subSub-register maintained Register. • A Client’s purchase order instruction will only be accepted and operated by Computershare.
12.1.4 Computershare acted upon after cleared funds to cover the purchase and all related fees and charges, have been received in the Link Investor Services Proprietary Limited’s client settlement bank account. • PCN will endeavour to inform the Client if an instruction given by the Client will not be carried out unless Computershare PCN has good reason for not doing so. Computershare PCN will not be liable for refusing to carry out any instruction if it has good reason for not doing so.
12.1.5 . • Any instruction submitted by another person on behalf of the Client should not be recognised unless an original power of attorney or other appropriate authority (or a complete copy thereof certified by a Commissioner commissioner of Oathsoaths) has been received and accepted by Computershare.
12.1.6 PCN. • All instructions given by the Client to the dealing service are irrevocable and shall be dealt with on the business trading day immediately following the business trading day on which they were received and failing that as soon as reasonably possible thereafter.
12.1.7 . • In the event that ComputersharePCN’s nominated stockbroker is unable to process the entire trade due to there being insufficient buyers or sellers in the market, the balance of the trade will be kept pending by the broker for a 30 30-day period in terms of standard market practice.
12.1.8 Computershare . • PCN will thereafter endeavour to notify the Client of the status of the trade and the Client shall upon receipt of ComputersharePCN’s notification provide a replacement instruction or cancel the balance of the trade.
12.1.9 . • No limit order or raise order will be accepted by ComputersharePCN. The Client acknowledges that prices may fluctuate from the time the instruction is given until the time that the transaction is executed.
12.1.10 . • By submitting an instruction to Computershare PCN to arrange to sell any security Security on his behalf, the Client warrants that-
12.1.10.1 he has not sold or purported to sell the securities or the interest in any security to any third party;
12.1.10.2 the securities will be sold free from all liens, charges or other third party rights or any encumbrance of any kind;
12.1.10.3 he is entitled to sell the securities;
12.1.10.4 the sale will not constitute a breach by the Client of any applicable laws and regulations; and
12.1.10.5 he is not a minor, or if he is a minor, that he is properly assisted by a parent or court appointed guardian.
12.1.11 The Client irrevocably undertakes that he will do, or procure to be done, all acts and things, and execute or procure the execution of all such documents as Computershare may from time to time require to give effect to any instruction by the Client.
12.1.12 The dealing service shall be operated strictly on an “execution only” basis. Computershare shall not provide, or have any responsibility to provide any financial, taxation or other advice to the Client.
12.1.13 A transaction in any security through the dealing service will be executed by a stockbroker appointed by Computershare. By submitting an instruction to Computershare the Client irrevocably authorises Computershare to appoint a stockbroker to execute the transaction on behalf of the Client on the basis that-
12.1.13.1 Computershare will instruct a stockbroker to obtain the best price reasonably available in the market at the time of dealing. If no such price can be ascertained, the stockbroker will take reasonable care to carry out the instruction at a price which is fair and reasonable; and
12.1.13.2 Computershare shall, to the exclusion of all others including the Client, be entitled to bring any action, suit or proceedings (“Actions”) against the stockbroker arising out of or in connection with the sale. Computershare shall, in its sole discretion, determine the nature and scope of such Actions. By submitting an instruction to Computershare the Client waives his right in relation to such Actions.
12.1.14 The stockbroker appointed by Computershare may aggregate any instruction with those of other holders of securities transacting securities through the dealing service but may not aggregate the sale with any other clients of the stockbroker, provided that any aggregation shall take place in accordance with the Rules of the JSE.
12.1.14.1 The price per security that the Client will receive in the case of transactions that are aggregated will be the total proceeds of all aggregated transactions in the relevant period less all costs of the transactions divided by the number of securities sold in such transactions;
12.1.14.2 The price per security that the Client will receive where transactions are not aggregated will be the price at which such securities are sold in the relevant period less all costs of the sale;
12.1.14.3 The proceeds payable to the Client shall be rounded down, where necessary, to the nearest whole Rand. Resulting fractions of any Rand will be aggregated and may be retained by Computershare.
12.1.14.4 Each security aggregated with other securities being transacted through the dealing service in any relevant period will only be treated as sold when it is actually sold by the dealing service.
12.1.15 Orders executed through the service shall be subject to the charges published from time to time, initially as set out in Schedule A to this Agreement.
12.1.16 Computershare may vary the amount, rate or basis of charges from time to time and may introduce new charges.
12.1.17 Fees, taxes, charges and other expenses of whatever nature incurred on behalf of the Client will be deducted from the proceeds of any transaction.
12.1.18 Instructions to carry out more than one transaction will be treated as separate transactions and each such transaction shall be charged separately.
12.1.19 All transactions will take place on the JSE.
12.1.20 Computershare will subject to applicable exchange control legislation and regulations pay to the Client the proceeds of any sale in accordance with the Client’s instructions detailed in Part B of this Agreement.
12.1.21 Advice of any transaction will be included in a transaction statement sent to the Client.
12.1.22 Computershare may terminate the dealing service at any time without giving notice thereof to the Client. All valid instructions given to the dealing service in accordance with this Agreement before termination will be carried out.
12.1.23 Transactions will be carried out and records relating to instructions by the Client will be kept according to the rules, customs and practices of the JSE.
12.1.24 If the dealing service cannot perform any of its services under this Agreement due to circumstances beyond its reasonable control, Computershare will take all reasonable steps to bring such circumstances to an end, but Computershare shall not be liable for any non-performance of the dealing service.
12.1.25 Without prejudice to any stockbroker’s obligations to execute transactions on the JSE, when a stockbroker executes an instruction given to the dealing service the Client acknowledges that the stockbroker could be acting as principal for its own account. By submitting an instruction to the dealing service the Client consents, where applicable, to the stockbroker acting as principal for its own account.
12.1.26 The Client indemnifies Computershare and those persons acting on his behalf in relation to the provision of the dealing service and their respective directors, employees and agents against any liability (except to the extent that the liability is caused by Computershare or such persons own default, negligence or fraud) which it or they may incur as a result of the dealing service.
12.1.27 Computershare does not receive any brokerage commission in lieu of execution of trades.that:
Appears in 2 contracts
Samples: Custody and Settlements Agreement, Custody and Settlements Agreement
DEALING ROUTING SERVICE. 12.1 By submitting any instruction to transact in securities using For the Computershare Dealing Routing Service ("dealing service") avoidance of doubt, the Client agrees following terms and conditions do not apply to the following provisions:
12.1.1 free share dealing service being offered in relation to Quilter plc and Old Mutual Limited shares as part of the managed separation of Old Mutual plc, as set out in the scheme circular issued by Old Mutual plc dated 20 April 2018. • The Client may only give instructions to transact in any security Security by means of the telephonic service when operational. • Instructions will not also be accepted by any other means, including without limitation, way of fax, electronic e-mail, and photocopied forms or through the Internetforms. Computershare PCN reserves the right to alter the times that the telephonic service is available.
12.1.2 Computershare . • PCN will not carry out any instruction to transact securities Securities on behalf of the Client unless it is satisfied that the Client has been recorded as the owner beneficial holder of the securities Securities in ComputersharePCN’s records.
12.1.3 . • The Client may only use the dealing service if his securities his/her/its Securities are or will be registered in the South African subSub-register maintained Register. • A Client’s purchase order instruction will only be accepted and operated by Computershare.
12.1.4 Computershare acted upon after cleared funds to cover the purchase and all related fees and charges, have been received in the Link Investor Services Proprietary Limited’s client settlement bank account. • PCN will endeavour to inform the Client if an instruction given by the Client will not be carried out unless Computershare PCN has good reason for not doing so. Computershare PCN will not be liable for refusing to carry out any instruction if it has good reason for not doing so.
12.1.5 . • Any instruction submitted by another person on behalf of the Client should not be recognised unless an original power of attorney or other appropriate authority (or a complete copy thereof certified by a Commissioner commissioner of Oathsoaths) has been received and accepted by Computershare.
12.1.6 PCN. see money differently • All instructions given by the Client to the dealing service are irrevocable and shall be dealt with on the business trading day immediately following the business trading day on which they were received and failing that as soon as reasonably possible thereafter.
12.1.7 . • In the event that ComputersharePCN’s nominated stockbroker is unable to process the entire trade due to there being insufficient buyers or sellers in the market, the balance of the trade will be kept pending by the broker for a 30 30-day period in terms of standard market practice.
12.1.8 Computershare . • PCN will thereafter endeavour to notify the Client of the status of the trade and the Client shall upon receipt of ComputersharePCN’s notification provide a replacement instruction or cancel the balance of the trade.
12.1.9 . • No limit order or raise order will be accepted by ComputersharePCN. The Client acknowledges that prices may fluctuate from the time the instruction is given until the time that the transaction is executed.
12.1.10 . • By submitting an instruction to Computershare PCN to arrange to sell any security Security on his behalf, the Client warrants that-
12.1.10.1 he has not sold or purported to sell the securities or the interest in any security to any third party;
12.1.10.2 the securities will be sold free from all liens, charges or other third party rights or any encumbrance of any kind;
12.1.10.3 he is entitled to sell the securities;
12.1.10.4 the sale will not constitute a breach by the Client of any applicable laws and regulations; and
12.1.10.5 he is not a minor, or if he is a minor, that he is properly assisted by a parent or court appointed guardian.
12.1.11 The Client irrevocably undertakes that he will do, or procure to be done, all acts and things, and execute or procure the execution of all such documents as Computershare may from time to time require to give effect to any instruction by the Client.
12.1.12 The dealing service shall be operated strictly on an “execution only” basis. Computershare shall not provide, or have any responsibility to provide any financial, taxation or other advice to the Client.
12.1.13 A transaction in any security through the dealing service will be executed by a stockbroker appointed by Computershare. By submitting an instruction to Computershare the Client irrevocably authorises Computershare to appoint a stockbroker to execute the transaction on behalf of the Client on the basis that-
12.1.13.1 Computershare will instruct a stockbroker to obtain the best price reasonably available in the market at the time of dealing. If no such price can be ascertained, the stockbroker will take reasonable care to carry out the instruction at a price which is fair and reasonable; and
12.1.13.2 Computershare shall, to the exclusion of all others including the Client, be entitled to bring any action, suit or proceedings (“Actions”) against the stockbroker arising out of or in connection with the sale. Computershare shall, in its sole discretion, determine the nature and scope of such Actions. By submitting an instruction to Computershare the Client waives his right in relation to such Actions.
12.1.14 The stockbroker appointed by Computershare may aggregate any instruction with those of other holders of securities transacting securities through the dealing service but may not aggregate the sale with any other clients of the stockbroker, provided that any aggregation shall take place in accordance with the Rules of the JSE.
12.1.14.1 The price per security that the Client will receive in the case of transactions that are aggregated will be the total proceeds of all aggregated transactions in the relevant period less all costs of the transactions divided by the number of securities sold in such transactions;
12.1.14.2 The price per security that the Client will receive where transactions are not aggregated will be the price at which such securities are sold in the relevant period less all costs of the sale;
12.1.14.3 The proceeds payable to the Client shall be rounded down, where necessary, to the nearest whole Rand. Resulting fractions of any Rand will be aggregated and may be retained by Computershare.
12.1.14.4 Each security aggregated with other securities being transacted through the dealing service in any relevant period will only be treated as sold when it is actually sold by the dealing service.
12.1.15 Orders executed through the service shall be subject to the charges published from time to time, initially as set out in Schedule A to this Agreement.
12.1.16 Computershare may vary the amount, rate or basis of charges from time to time and may introduce new charges.
12.1.17 Fees, taxes, charges and other expenses of whatever nature incurred on behalf of the Client will be deducted from the proceeds of any transaction.
12.1.18 Instructions to carry out more than one transaction will be treated as separate transactions and each such transaction shall be charged separately.
12.1.19 All transactions will take place on the JSE.
12.1.20 Computershare will subject to applicable exchange control legislation and regulations pay to the Client the proceeds of any sale in accordance with the Client’s instructions detailed in Part B of this Agreement.
12.1.21 Advice of any transaction will be included in a transaction statement sent to the Client.
12.1.22 Computershare may terminate the dealing service at any time without giving notice thereof to the Client. All valid instructions given to the dealing service in accordance with this Agreement before termination will be carried out.
12.1.23 Transactions will be carried out and records relating to instructions by the Client will be kept according to the rules, customs and practices of the JSE.
12.1.24 If the dealing service cannot perform any of its services under this Agreement due to circumstances beyond its reasonable control, Computershare will take all reasonable steps to bring such circumstances to an end, but Computershare shall not be liable for any non-performance of the dealing service.
12.1.25 Without prejudice to any stockbroker’s obligations to execute transactions on the JSE, when a stockbroker executes an instruction given to the dealing service the Client acknowledges that the stockbroker could be acting as principal for its own account. By submitting an instruction to the dealing service the Client consents, where applicable, to the stockbroker acting as principal for its own account.
12.1.26 The Client indemnifies Computershare and those persons acting on his behalf in relation to the provision of the dealing service and their respective directors, employees and agents against any liability (except to the extent that the liability is caused by Computershare or such persons own default, negligence or fraud) which it or they may incur as a result of the dealing service.
12.1.27 Computershare does not receive any brokerage commission in lieu of execution of trades.that:
Appears in 2 contracts
Samples: Custody and Settlements Agreement, Custody and Settlements Agreement
DEALING ROUTING SERVICE. 12.1 24.1 By submitting any instruction to transact in securities using the Computershare JSE Investor Services CSDP Dealing Routing Service ("“dealing service"”) the Client agrees to the following provisions:
12.1.1 24.1.1 The Client may only give instructions to transact in any security by means of the telephonic service when operational. Instructions will not also be accepted by any other means, including without limitation, way of fax, electronic mail, and photocopied forms or through the Internetforms. Computershare JSE Investor Services CSDP reserves the right to alter the times that the telephonic service is available.
12.1.2 Computershare 24.1.2 JSE Investor Services CSDP will not carry out any instruction to transact securities on behalf of the Client unless it is satisfied that the Client has been recorded as the owner of the securities in ComputershareJSE Investor Services CSDP’s records.
12.1.3 24.1.3 The Client may only use the dealing service if his securities are or will be registered in the South African sub-register maintained and operated by ComputershareJSE Investor Services CSDP.
12.1.4 Computershare 24.1.4 A Client’s purchase order instruction will only be accepted and acted upon after cleared funds to cover the purchase and all related fees and charges, have been received in the JSE Investor Services CSDP Clients Settlements bank account.
24.1.5 JSE Investor Services CSDP will endeavour to inform the Client if an instruction given by the Client will not be carried out unless Computershare JSE Investor Services CSDP has good reason for not doing so. Computershare JSE Investor Services CSDP will not be liable for refusing to carry out any instruction if it has good reason for not doing so.
12.1.5 24.1.6 Any instruction submitted by another person on behalf of the Client should not be recognised unless an original power of attorney or other appropriate authority (or a complete copy thereof certified by a Commissioner of Oaths) has been received and accepted by ComputershareJSE Investor Services CSDP.
12.1.6 24.1.7 All instructions given by the Client to the dealing service are irrevocable and shall be dealt with on the business day immediately following the business day on which they were received and failing that as soon as reasonably possible thereafter.
12.1.7 24.1.8 In the event that ComputershareJSE Investor Services CSDP’s nominated stockbroker is unable to process the entire trade due to there being insufficient buyers or sellers in the market, the balance of the trade will be kept pending by the broker for a 30 day period in terms of standard market practice.
12.1.8 Computershare 24.1.9 JSE Investor Services CSDP will thereafter endeavour to notify the Client of the status of the trade and the Client shall upon receipt of ComputershareJSE Investor Services CSDP’s notification provide a replacement instruction or cancel the balance of the trade.
12.1.9 24.1.10 No limit order or raise order will be accepted by ComputershareJSE Investor Services CSDP. The Client acknowledges that prices may fluctuate from the time the instruction is given until the time that the transaction is executed.
12.1.10 . By submitting an instruction to Computershare JSE Investor Services CSDP to arrange to sell any security on his behalf, the Client warrants that-
12.1.10.1 that: • he has not sold or purported to sell the securities or the interest in any security to any third party;
12.1.10.2 ; • the securities will be sold free from all liens, charges or other third party rights or any encumbrance of any kind;
12.1.10.3 ; • he is entitled to sell the securities;
12.1.10.4 ; • the sale will not constitute a breach by the Client of any applicable laws and regulations; and
12.1.10.5 and • he is not a minor, or if he is a minor, that he is properly assisted by a parent or court appointed guardian.
12.1.11 24.1.11 The Client irrevocably undertakes that he will do, or procure to be done, all acts and things, and execute or procure the execution of all such documents as Computershare JSE Investor Services CSDP may from time to time require to give effect to any instruction by the Client.
12.1.12 24.1.12 The dealing service shall be operated strictly on an “execution only” basis. Computershare JSE Investor Services CSDP shall not provide, or have any responsibility to provide any financial, taxation or other advice to the Client.
12.1.13 24.1.13 A transaction in any security through the dealing service will be executed by a stockbroker appointed by ComputershareJSE Investor Services CSDP. By submitting an instruction to Computershare JSE Investor Services CSDP the Client irrevocably authorises Computershare JSE Investor Services CSDP to appoint a stockbroker to execute the transaction on behalf of the Client on the basis that-
12.1.13.1 Computershare that: • JSE Investor Services CSDP will instruct a stockbroker to obtain the best price reasonably available in the market at the time of dealing. If no such price can be ascertained, the stockbroker will take reasonable care to carry out the instruction at a price which is fair and reasonable; and
12.1.13.2 Computershare and • JSE Investor Services CSDP shall, to the exclusion of all others including the Client, be entitled to bring any action, suit or proceedings (“Actions”) against the stockbroker arising out of or in connection with the sale. Computershare JSE Investor Services CSDP shall, in its sole discretion, determine the nature and scope of such Actions. By submitting an instruction to Computershare JSE Investor Services CSDP the Client waives his right in relation to such Actions.
12.1.14 The 24.1.14 JSE Investor Services CSDP and/or the stockbroker appointed by Computershare JSE Investor Services CSDP may aggregate any instruction with those of other holders of securities transacting securities through the dealing service but may not aggregate the purchase or sale with any other clients of the stockbroker, provided that any aggregation shall take place in accordance with the Rules of the JSEExchange.
12.1.14.1 24.1.14.1 The price per security that the Client will receive in the case of transactions that are aggregated will be the total proceeds of all aggregated transactions in the relevant period less all costs of the transactions divided by the number of securities sold in such transactions;
12.1.14.2 24.1.14.2 The price per security that the Client will receive where transactions are not aggregated will be the price at which such securities are sold in the relevant period less all costs of the sale;
12.1.14.3 24.1.14.3 The proceeds payable to the Client shall be rounded down, where necessary, to the nearest whole Rand. Resulting fractions of any Rand will be aggregated and may be retained by ComputershareJSE Investor Services CSDP.
12.1.14.4 24.1.14.4 Each security aggregated with other securities being transacted through the dealing service in any relevant period will only be treated as sold when it is actually sold by the dealing service.
12.1.15 24.1.15 Orders executed through the service shall be subject to the charges published applicable from time to time, initially as set out in Schedule A to this Agreementand these charges may be changed at any time on JSE Investor Services CSDP’s sole discretion.
12.1.16 Computershare 24.1.16 JSE Investor Services CSDP may vary the amount, rate or basis of charges from time to time and may introduce new charges.
12.1.17 24.1.17 Fees, taxes, charges and other expenses of whatever nature incurred on behalf of the Client will be deducted from the proceeds of any transaction.
12.1.18 24.1.18 Instructions to carry out more than one transaction will be treated as separate transactions and each such transaction shall be charged separately.
12.1.19 24.1.19 All transactions will take place on the JSEExchange.
12.1.20 Computershare 24.1.20 JSE Investor Services CSDP will subject to applicable exchange control legislation and regulations pay to the Client the proceeds of any sale in accordance with the Client’s instructions detailed in Part B of this Agreement.
12.1.21 24.1.21 Advice of any transaction will be included in a transaction statement sent to the Client.
12.1.22 Computershare 24.1.22 JSE Investor Services CSDP may terminate the dealing service at any time without giving notice thereof to the Client. All valid instructions given to the dealing service in accordance with this Agreement before termination will be carried out.
12.1.23 24.1.23 Transactions will be carried out and records relating to instructions by the Client will be kept according to the rules, customs and practices of the JSEExchange.
12.1.24 24.1.24 If the dealing service cannot perform any of its services under this Agreement due to circumstances beyond its reasonable control, Computershare JSE Investor Services CSDP will take all reasonable steps to bring such circumstances to an end, but Computershare JSE Investor Services CSDP shall not be liable for any non-performance of the dealing service.
12.1.25 24.1.25 Without prejudice to any stockbroker’s obligations to execute transactions on the JSEExchange, when a stockbroker executes an instruction given to the dealing service the Client acknowledges that the stockbroker could be acting as principal for its own account. By submitting an instruction to the dealing service the Client consents, where applicable, to the stockbroker acting as principal for its own account.
12.1.26 24.1.26 The Client indemnifies Computershare JSE Investor Services CSDP and those persons acting on his behalf in relation to the provision of the dealing service and their respective directors, employees and agents against any liability (except to the extent that the liability is caused by Computershare JSE Investor Services CSDP or such persons person’s own default, negligence or fraud) which it or they may incur as a result of the dealing service.
12.1.27 Computershare 24.1.27 JSE Investor Services CSDP does not receive any brokerage commission in lieu of execution of trades.
Appears in 1 contract
Samples: Custody and Settlement Agreement
DEALING ROUTING SERVICE. 12.1 By submitting any instruction to transact in securities using the Computershare Dealing Routing Service ("dealing service") the Client agrees to the following provisions:
12.1.1 The Client may only give instructions to transact in any security by means of the telephonic service when operational. Instructions will not be accepted by any other means, including without limitation, fax, electronic mail, and photocopied forms or through the Internet. Computershare reserves the right to alter the times that the telephonic service is available.
12.1.2 Computershare will not carry out any instruction to transact securities on behalf of the Client unless it is satisfied that the Client has been recorded as the owner of the securities in Computershare’s records.
12.1.3 The Client may only use the dealing service if his securities are registered in the South African sub-register maintained and operated by Computershare.
12.1.4 Computershare will endeavour to inform the Client if an instruction given by the Client will not be carried out unless Computershare has good reason for not doing so. Computershare will not be liable for refusing to carry out any instruction if it has good reason for not doing so.
12.1.5 Any instruction submitted by another person on behalf of the Client should not be recognised unless an original power of attorney or other appropriate authority (or a complete copy thereof certified by a Commissioner of Oaths) has been received and accepted by Computershare.
12.1.6 All instructions given by the Client to the dealing service are irrevocable and shall be dealt with on the business day immediately following the business day on which they were received and failing that as soon as reasonably possible thereafter.
12.1.7 In the event that Computershare’s nominated stockbroker is unable to process the entire trade due to there being insufficient buyers or sellers in the market, the balance of the trade will be kept pending by the broker for a 30 day period in terms of standard market practice.
12.1.8 Computershare will thereafter endeavour to notify the Client of the status of the trade and the Client shall upon receipt of Computershare’s notification provide a replacement instruction or cancel the balance of the trade.
12.1.9 No limit order or raise order will be accepted by Computershare. The Client acknowledges that prices may fluctuate from the time the instruction is given until the time that the transaction is executed.
12.1.10 By submitting an instruction to Computershare to arrange to sell any security on his behalf, the Client warrants that-
12.1.10.1 he has not sold or purported to sell the securities or the interest in any security to any third party;
12.1.10.2 the securities will be sold free from all liens, charges or other third party rights or any encumbrance of any kind;
12.1.10.3 he is entitled to sell the securities;
12.1.10.4 the sale will not constitute a breach by the Client of any applicable laws and regulations; and
12.1.10.5 he is not a minor, or if he is a minor, that he is properly assisted by a parent or court appointed guardian.
12.1.11 The Client irrevocably undertakes that he will do, or procure to be done, all acts and things, and execute or procure the execution of all such documents as Computershare may from time to time require to give effect to any instruction by the Client.
12.1.12 The dealing service shall be operated strictly on an “execution only” basis. Computershare shall not provide, or have any responsibility to provide any financial, taxation or other advice to the Client.
12.1.13 A transaction in any security through the dealing service will be executed by a stockbroker appointed by Computershare. By submitting an instruction to Computershare the Client irrevocably authorises Computershare to appoint a stockbroker to execute the transaction on behalf of the Client on the basis that-
12.1.13.1 Computershare will instruct a stockbroker to obtain the best price reasonably available in the market at the time of dealing. If no such price can be ascertained, the stockbroker will take reasonable care to carry out the instruction at a price which is fair and reasonable; and
12.1.13.2 Computershare shall, to the exclusion of all others including the Client, be entitled to bring any action, suit or proceedings (“Actions”) against the stockbroker arising out of or in connection with the sale. Computershare shall, in its sole discretion, determine the nature and scope of such Actions. By submitting an instruction to Computershare the Client waives his right in relation to such Actions.
12.1.14 The stockbroker appointed by Computershare may aggregate any instruction with those of other holders of securities transacting securities through the dealing service but may not aggregate the sale with any other clients of the stockbroker, provided that any aggregation shall take place in accordance with the Rules of the JSE.
12.1.14.1 The price per security that the Client will receive in the case of transactions that are aggregated will be the total proceeds of all aggregated transactions in the relevant period less all costs of the transactions divided by the number of securities sold in such transactions;
12.1.14.2 The price per security that the Client will receive where transactions are not aggregated will be the price at which such securities are sold in the relevant period less all costs of the sale;
12.1.14.3 The proceeds payable to the Client shall be rounded down, where necessary, to the nearest whole Rand. Resulting fractions of any Rand will be aggregated and may be retained by Computershare.
12.1.14.4 Each security aggregated with other securities being transacted through the dealing service in any relevant period will only be treated as sold when it is actually sold by the dealing service.
12.1.15 Orders executed through the service shall be subject to the charges published from time to time, initially as set out in Schedule A to this Agreement.
12.1.16 Computershare may vary the amount, rate or basis of charges from time to time and may introduce new charges.
12.1.17 Fees, taxes, charges and other expenses of whatever nature incurred on behalf of the Client will be deducted from the proceeds of any transaction.
12.1.18 Instructions to carry out more than one transaction will be treated as separate transactions and each such transaction shall be charged separately.
12.1.19 All transactions will take place on the JSE.
12.1.20 Computershare will subject to applicable exchange control legislation and regulations pay to the Client the proceeds of any sale in accordance with the Client’s instructions detailed in Part B of this Agreement.
12.1.21 Advice of any transaction will be included in a transaction statement sent to the Client.
12.1.22 Computershare may terminate the dealing service at any time without giving notice thereof to the Client. All valid instructions given to the dealing service in accordance with this Agreement before termination will be carried out.
12.1.23 Transactions will be carried out and records relating to instructions by the Client will be kept according to the rules, customs and practices of the JSE.
12.1.24 If the dealing service cannot perform any of its services under this Agreement due to circumstances beyond its reasonable control, Computershare will take all reasonable steps to bring such circumstances to an end, but Computershare shall not be liable for any non-performance of the dealing service.
12.1.25 Without prejudice to any stockbroker’s obligations to execute transactions on the JSE, when a stockbroker executes an instruction given to the dealing service the Client acknowledges that the stockbroker could be acting as principal for its own account. By submitting an instruction to the dealing service the Client consents, where applicable, to the stockbroker acting as principal for its own account.
12.1.26 The Client indemnifies Computershare and those persons acting on his behalf in relation to the provision of the dealing service and their respective directors, employees and agents against any liability (except to the extent that the liability is caused by Computershare or such persons own default, negligence or fraud) which it or they may incur as a result of the dealing service.
12.1.27 Computershare does not receive any brokerage commission in lieu of execution of trades.
Appears in 1 contract
Samples: Custody and Settlement Agreement
DEALING ROUTING SERVICE. 12.1 By submitting any instruction to transact in securities using the Computershare Dealing Routing Service ("dealing service") the Client agrees to the following provisions:
12.1.1 12.2 The Client may only give instructions to transact in any security in writing or by means of the telephonic service when operational. Instructions will not be accepted by any other means, including without limitation, fax, electronic mail, and photocopied forms or through the Internet. Computershare reserves the right to alter the times that the telephonic service is available.
12.1.2 12.3 Computershare will not carry out any instruction to transact securities on behalf of the Client unless it is satisfied that the Client has been recorded as the owner of the securities in Computershare’s records.
12.1.3 12.4 The Client may only use the dealing service if his securities are registered in the South African sub-register maintained and operated by Computershare.
12.1.4 12.5 Computershare will endeavour endeavor to inform the Client if an instruction given by the Client will not be carried out unless Computershare has good reason for not doing so. Computershare will not be liable for refusing to carry out any instruction if it has good reason for not doing so.
12.1.5 12.6 Any instruction submitted by another person on behalf of the Client should not be recognised unless an original power of attorney or other appropriate authority (or a complete copy thereof certified by a Commissioner of Oaths) has been received and accepted by Computershare.
12.1.6 12.7 All instructions given by the Client to the dealing service are irrevocable and shall be dealt with on the business day immediately following the business day on which they were received and failing that as soon as reasonably possible thereafter.
12.1.7 In the event that Computershare’s nominated stockbroker is unable to process the entire trade due to there being insufficient buyers or sellers in the market, the balance of the trade will be kept pending by the broker for a 30 day period in terms of standard market practice.
12.1.8 Computershare will thereafter endeavour to notify the Client of the status of the trade and the Client shall upon receipt of Computershare’s notification provide a replacement instruction or cancel the balance of the trade.
12.1.9 12.8 No limit order or raise order will be accepted by Computershare. The Client acknowledges that prices may fluctuate from the time the instruction is given until the time that the transaction is executed.
12.1.10 12.9 By submitting an instruction to Computershare to arrange to sell any security on his behalf, the Client warrants that-
12.1.10.1 12.9.1 he has not sold or purported to sell the securities or the interest in any security to any third party;
12.1.10.2 12.9.2 the securities will be sold free from all liens, charges or other third party rights or any encumbrance of any kind;
12.1.10.3 12.9.3 he is entitled to sell the securities;
12.1.10.4 12.9.4 the sale will not constitute a breach by the Client of any applicable laws and regulations; and
12.1.10.5 12.9.5 he is not a minor, or if he is a minor, that he is properly assisted by a parent or court appointed guardian.
12.1.11 12.10 The Client irrevocably undertakes that he will do, or procure to be done, all acts and things, and execute or procure the execution of all such documents as Computershare may from time to time require to give effect to any instruction by the Client.
12.1.12 12.11 The dealing service shall be operated strictly on an “execution only” basis. Computershare shall not provide, or have any responsibility to or provide any financial, taxation or other advice to the Client.
12.1.13 12.12 A transaction in any security through the dealing service will be executed by a stockbroker appointed by Computershare. By submitting an instruction to Computershare the Client irrevocably authorises Computershare to appoint a stockbroker to execute the transaction on behalf of the Client on the basis that-
12.1.13.1 12.12.1 Computershare will instruct a stockbroker to obtain the best price reasonably available in the market at the time of dealing. If no such price can be ascertained, the stockbroker will take reasonable care to carry out the instruction at a price which is fair and reasonable; and
12.1.13.2 12.12.2 Computershare shall, to the exclusion of all others including the Client, be entitled to bring any action, suit or proceedings (“Actions”) against the stockbroker arising out of or in connection with the sale. Computershare shall, in its sole discretion, determine the nature and scope of such Actions. By submitting an instruction to Computershare the Client waives his right in relation to such Actions.
12.1.14 12.13 The stockbroker appointed by Computershare may aggregate any instruction with those of other holders of securities transacting securities through the dealing service but may not aggregate the sale with any other clients of the stockbroker, provided that any aggregation shall take place in accordance with the Rules of the JSE.
12.1.14.1 12.13.1 The price per security that the Client will receive in the case of transactions that are aggregated will be the total proceeds of all aggregated transactions in the relevant period less all costs of the transactions divided by the number of securities sold in such transactions;
12.1.14.2 12.13.2 The price per security that the Client will receive where transactions are not aggregated will be the price at which such securities security are sold in the relevant period less all costs of the sale;
12.1.14.3 12.13.3 The proceeds payable to the Client shall be rounded down, where necessary, to the nearest whole Rand. Resulting fractions of any Rand will be aggregated and may be retained by Computershare.
12.1.14.4 12.13.4 Each security aggregated with other securities security being transacted through the dealing service in any relevant period will only be treated as sold when it is actually sold by the dealing service.
12.1.15 12.14 Orders executed through the service shall be subject to the charges published from time to time, initially as set out in Schedule A to this Agreement.
12.1.16 12.15 Computershare may vary the amount, rate or basis of charges from time to time and may introduce new charges.
12.1.17 12.16 Fees, taxes, charges and other expenses of whatever nature incurred on behalf of the Client will be deducted from the proceeds of any transaction.
12.1.18 12.17 Instructions to carry out more than one transaction will be treated as separate transactions and each such transaction shall be charged separately.
12.1.19 12.18 All transactions will take place on the JSE.
12.1.20 12.19 Computershare will subject to applicable exchange control legislation and regulations pay to the Client the proceeds of any sale in accordance with the Client’s instructions detailed in Part B of this Agreement.
12.1.21 12.20 Advice of any transaction will be included in a transaction statement sent to the Client.
12.1.22 12.21 Computershare may terminate the dealing service at any time without giving notice thereof to the Client. All valid instructions given to the dealing service in accordance with this Agreement before termination will be carried out.
12.1.23 12.22 Transactions will be carried out and records relating to instructions by the Client will be kept according to the rules, customs and practices of the JSE.
12.1.24 12.23 If the dealing service cannot perform any of its services under this Agreement due to circumstances beyond its reasonable control, Computershare will take all reasonable steps to bring such circumstances to an end, but Computershare shall not be liable for any non-performance of the dealing service.
12.1.25 12.24 Without prejudice to any stockbroker’s obligations to execute transactions on the JSE, when a stockbroker executes an instruction given to the dealing service the Client acknowledges that the stockbroker could be acting as principal for its own account. By submitting an instruction to the dealing service the Client consents, where applicable, to the stockbroker acting as principal for its own account.
12.1.26 12.25 The Client indemnifies Computershare and those persons acting on his behalf in relation to the provision of the dealing service and their respective directors, employees and agents against any liability (except to the extent that the liability is caused by Computershare or such persons own default, negligence or fraud) which it or they may incur as a result of the dealing service.
12.1.27 Computershare does not receive any brokerage commission in lieu of execution of trades.
Appears in 1 contract
Samples: Custody Agreement
DEALING ROUTING SERVICE. 12.1 By submitting any instruction to transact in securities Securities using the Computershare PCN Dealing Routing Service ("“dealing service"”) the Client agrees to the following provisions:
12.1.1 : • The Client may only give instructions to transact in any security Security by means of the telephonic service when operational. Instructions will not also be accepted by any other means, including without limitation, way of fax, electronic e-mail, and photocopied forms or through the Internetforms. Computershare PCN reserves the right to alter the times that the telephonic service is available.
12.1.2 Computershare . • PCN will not carry out any instruction to transact securities Securities on behalf of the Client unless it is satisfied that the Client has been recorded as the owner beneficial holder of the securities Securities in ComputersharePCN’s records.
12.1.3 . • The Client may only use the dealing service if his securities his/her/its Securities are or will be registered in the South African subSub-register maintained Register. • A Client’s purchase order instruction will only be accepted and operated by Computershare.
12.1.4 Computershare acted upon after cleared funds to cover the purchase and all related fees and charges, have been received in the JSE Investor Services CSDP Proprietary Limited’s client settlement bank account. • PCN will endeavour to inform the Client if an instruction given by the Client will not be carried out unless Computershare PCN has good reason for not doing so. Computershare PCN will not be liable for refusing to carry out any instruction if it has good reason for not doing so.
12.1.5 . • Any instruction submitted by another person on behalf of the Client should not be recognised unless an original power of attorney or other appropriate authority (or a complete copy thereof certified by a Commissioner commissioner of Oathsoaths) has been received and accepted by Computershare.
12.1.6 PCN. • All instructions given by the Client to the dealing service are irrevocable and shall be dealt with on the business trading day immediately following the business trading day on which they were received and failing that as soon as reasonably possible thereafter.
12.1.7 . • In the event that ComputersharePCN’s nominated stockbroker is unable to process the entire trade due to there being insufficient buyers or sellers in the market, the balance of the trade will be kept pending by the broker for a 30 30-day period in terms of standard market practice.
12.1.8 Computershare . • PCN will thereafter endeavour to notify the Client of the status of the trade and the Client shall upon receipt of ComputersharePCN’s notification provide a replacement instruction or cancel the balance of the trade.
12.1.9 . • No limit order or raise order will be accepted by ComputersharePCN. The Client acknowledges that prices may fluctuate from the time the instruction is given until the time that the transaction is executed.
12.1.10 . • By submitting an instruction to Computershare PCN to arrange to sell any security Security on his behalf, the Client warrants that-
12.1.10.1 he has not sold or purported to sell the securities or the interest in any security to any third party;
12.1.10.2 the securities will be sold free from all liens, charges or other third party rights or any encumbrance of any kind;
12.1.10.3 he is entitled to sell the securities;
12.1.10.4 the sale will not constitute a breach by the Client of any applicable laws and regulations; and
12.1.10.5 he is not a minor, or if he is a minor, that he is properly assisted by a parent or court appointed guardian.
12.1.11 The Client irrevocably undertakes that he will do, or procure to be done, all acts and things, and execute or procure the execution of all such documents as Computershare may from time to time require to give effect to any instruction by the Client.
12.1.12 The dealing service shall be operated strictly on an “execution only” basis. Computershare shall not provide, or have any responsibility to provide any financial, taxation or other advice to the Client.
12.1.13 A transaction in any security through the dealing service will be executed by a stockbroker appointed by Computershare. By submitting an instruction to Computershare the Client irrevocably authorises Computershare to appoint a stockbroker to execute the transaction on behalf of the Client on the basis that-
12.1.13.1 Computershare will instruct a stockbroker to obtain the best price reasonably available in the market at the time of dealing. If no such price can be ascertained, the stockbroker will take reasonable care to carry out the instruction at a price which is fair and reasonable; and
12.1.13.2 Computershare shall, to the exclusion of all others including the Client, be entitled to bring any action, suit or proceedings (“Actions”) against the stockbroker arising out of or in connection with the sale. Computershare shall, in its sole discretion, determine the nature and scope of such Actions. By submitting an instruction to Computershare the Client waives his right in relation to such Actions.
12.1.14 The stockbroker appointed by Computershare may aggregate any instruction with those of other holders of securities transacting securities through the dealing service but may not aggregate the sale with any other clients of the stockbroker, provided that any aggregation shall take place in accordance with the Rules of the JSE.
12.1.14.1 The price per security that the Client will receive in the case of transactions that are aggregated will be the total proceeds of all aggregated transactions in the relevant period less all costs of the transactions divided by the number of securities sold in such transactions;
12.1.14.2 The price per security that the Client will receive where transactions are not aggregated will be the price at which such securities are sold in the relevant period less all costs of the sale;
12.1.14.3 The proceeds payable to the Client shall be rounded down, where necessary, to the nearest whole Rand. Resulting fractions of any Rand will be aggregated and may be retained by Computershare.
12.1.14.4 Each security aggregated with other securities being transacted through the dealing service in any relevant period will only be treated as sold when it is actually sold by the dealing service.
12.1.15 Orders executed through the service shall be subject to the charges published from time to time, initially as set out in Schedule A to this Agreement.
12.1.16 Computershare may vary the amount, rate or basis of charges from time to time and may introduce new charges.
12.1.17 Fees, taxes, charges and other expenses of whatever nature incurred on behalf of the Client will be deducted from the proceeds of any transaction.
12.1.18 Instructions to carry out more than one transaction will be treated as separate transactions and each such transaction shall be charged separately.
12.1.19 All transactions will take place on the JSE.
12.1.20 Computershare will subject to applicable exchange control legislation and regulations pay to the Client the proceeds of any sale in accordance with the Client’s instructions detailed in Part B of this Agreement.
12.1.21 Advice of any transaction will be included in a transaction statement sent to the Client.
12.1.22 Computershare may terminate the dealing service at any time without giving notice thereof to the Client. All valid instructions given to the dealing service in accordance with this Agreement before termination will be carried out.
12.1.23 Transactions will be carried out and records relating to instructions by the Client will be kept according to the rules, customs and practices of the JSE.
12.1.24 If the dealing service cannot perform any of its services under this Agreement due to circumstances beyond its reasonable control, Computershare will take all reasonable steps to bring such circumstances to an end, but Computershare shall not be liable for any non-performance of the dealing service.
12.1.25 Without prejudice to any stockbroker’s obligations to execute transactions on the JSE, when a stockbroker executes an instruction given to the dealing service the Client acknowledges that the stockbroker could be acting as principal for its own account. By submitting an instruction to the dealing service the Client consents, where applicable, to the stockbroker acting as principal for its own account.
12.1.26 The Client indemnifies Computershare and those persons acting on his behalf in relation to the provision of the dealing service and their respective directors, employees and agents against any liability (except to the extent that the liability is caused by Computershare or such persons own default, negligence or fraud) which it or they may incur as a result of the dealing service.
12.1.27 Computershare does not receive any brokerage commission in lieu of execution of trades.that:
Appears in 1 contract
Samples: Custody and Settlements Agreement
