Nominee Account. 19.1.1 The Service considers opening of the Aggregated nominee account or Segregated nominee account (hereinafter the Nominee Account) for the Client (hereinafter the Owner of the Account) by the Bank on the basis of the application of the Client and in accordance with the Georgian legislation. The Nominal Owner’s account will be opened only in the form of current account. 19.1.2 Only the financial means of the owner of the account can be allocated or transferred from the Nominee Account, which is owned and disposed by such person in accordance with the Georgian legislation, and separated from its personal financial means. 19.1.3 In case of such request from the Bank occurs, a person with the ownership right over the Nominee Account in obliged to submit to the Bank information regarding its client (clients) and/or regarding their beneficial owners. 19.1.4 The Nominee Owner shall be held responsible for the content and purpose of the operations carried out on the Nominee Account. 19.1.5 It is not permissible to dispose the amount located on the Nominee Account on the basis of theassignment represented directly by the Client of the Nominee Owner of the Account. 19.1.6 The Nominee Account can be transferred (registered) on other person’s name on the basis of decision made by the authorized person as determined by Georgian Legislation. 19.1.7 Standard tariffs set by the Bank for the current accounts apply to the Nominee Account.
Appears in 4 contracts
Samples: Banking Operations Agreement, Banking Operations Agreement, Banking Operations Agreement
Nominee Account. 19.1.1 21.1.1 The Service considers opening of the Aggregated nominee account or Segregated nominee account (hereinafter the Nominee Account) for the Client (hereinafter the Owner of the Account) by the Bank on the basis of the application of the Client and in accordance with the Georgian legislation. The Nominal Owner’s account will be opened only in the form of current account.
19.1.2 21.1.2 Only the financial means of the owner of the account can be allocated or transferred from the Nominee Account, which is owned and disposed by such person in accordance with the Georgian legislation, and separated from its personal financial means.
19.1.3 21.1.3 In case of such request from the Bank occurs, a person with the ownership right over the Nominee Account in obliged to submit to the Bank information regarding its client (clients) and/or regarding their beneficial owners.
19.1.4 21.1.4 The Nominee Owner shall be held responsible for the content and purpose of the operations carried out on the Nominee Account.
19.1.5 21.1.5 It is not permissible to dispose the amount located on the Nominee Account on the basis of theassignment represented directly by the Client of the Nominee Owner of the Account.
19.1.6 21.1.6 The Nominee Account can be transferred (registered) on other person’s name on the basis of decision made by the authorized person as determined by Georgian Legislation.
19.1.7 21.1.7 Standard tariffs set by the Bank for the current accounts apply to the Nominee Account.
Appears in 1 contract
Samples: Banking Operations Agreement