Common use of Summary in Respect of CHESS and CUFS Clause in Contracts

Summary in Respect of CHESS and CUFS. The American Depositary Shares represent deposited CUFS. The Receipt shall contain the following description of CHESS and CUFS: CHESS CHESS facilitates the transfer of legal title and settlement of market transactions in Australia with an electronic subregister system. CHESS, which is operated by ASX Settlement and Transfer Corporation Pty Limited (herein called ASTC), is the approved securities clearing house (SCH) under s779B of the Xxxxxxxxxx Xxxxxxxxxxxx Xxx 0000 (the “Australian Corporations Act”). This allows legal title to equities to be validly transferred electronically by virtue of provisions in the Australian Corporations Act and the SCH Business Rules. Shares of the Issuer may be transferred and held indirectly in CHESS through the issue of CUFS.

Appears in 6 contracts

Samples: Deposit Agreement (James Hardie Industries Se), Deposit Agreement (James Hardie Industries Se), Deposit Agreement (James Hardie Industries Se)

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Summary in Respect of CHESS and CUFS. The American Depositary Shares represent deposited CUFS. The Receipt shall contain the following description of CHESS and CUFSCUFS prepared by the Company: CHESS CHESS facilitates the transfer of legal title and settlement of market transactions in Australia with an electronic subregister system. CHESS, which insofar as it facilitates settlement of transactions in respect of CUFS, is operated by ASX Settlement and Transfer Corporation Pty Limited (herein called ASTC), is the approved securities clearing house (SCHASX Settlement) under s779B of the Xxxxxxxxxx Xxxxxxxxxxxx Xxx 0000 (the “Australian Corporations Act”). This and allows legal title to equities to be validly transferred electronically by virtue of provisions in the Axxxxxxxxx Xxxxxxxxxxxx Xxx 0000 (herein called the Australian Corporations Act Act) and the SCH Business ASX Settlement Rules. Shares of the Issuer Company cannot be directly transferred and held through CHESS, but may be transferred and held indirectly in CHESS through the issue of CUFS.

Appears in 1 contract

Samples: Deposit Agreement (Deutsche Bank Trust Co Americas/ ADR Group)

Summary in Respect of CHESS and CUFS. The American Depositary Shares represent deposited CUFS. The Receipt shall contain the following description of CHESS and CUFSCUFS prepared by the Company: CHESS CHESS facilitates the transfer of legal title and settlement of market transactions in Australia with an electronic subregister system. CHESS, which insofar as it facilitates settlement of transactions in respect of CUFS, is operated by ASX Settlement and Transfer Corporation Pty Limited (herein called ASTC), is the approved securities clearing house (SCHASX Settlement) under s779B of the Xxxxxxxxxx Xxxxxxxxxxxx Xxx 0000 (the “Australian Corporations Act”). This and allows legal title to equities to be validly transferred electronically by virtue of provisions in the Xxxxxxxxxx Xxxxxxxxxxxx Xxx 0000 (herein called the Australian Corporations Act Act) and the SCH Business ASX Settlement Rules. Shares of the Issuer Company cannot be directly transferred and held through CHESS, but may be transferred and held indirectly in CHESS through the issue of CUFS.

Appears in 1 contract

Samples: Deposit Agreement (Deutsche Bank Trust Co Americas/ ADR Group)

Summary in Respect of CHESS and CUFS. The American Depositary Shares represent deposited CUFS. The Receipt shall contain the following is a summary description of CHESS and CUFSCUFS as prepared by the Company: CHESS CHESS facilitates the transfer of legal title and settlement of market transactions in Australia with an electronic subregister system. CHESS, which insofar as it facilitates settlement of transactions in respect of CUFS, is operated by ASX Settlement and Transfer Corporation Pty Limited (herein called ASTC), is the approved securities clearing house (SCHASX Settlement) under s779B of the Xxxxxxxxxx Xxxxxxxxxxxx Xxx 0000 (the “Australian Corporations Act”). This and allows legal title to equities to be validly transferred electronically by virtue of provisions in the Xxxxxxxxxx Xxxxxxxxxxxx Xxx 0000 (herein called the Australian Corporations Act Act) and the SCH Business ASX Settlement Rules. Shares of the Issuer Company cannot be directly transferred and held through CHESS, but may be transferred and held indirectly in CHESS through the issue of CUFS.

Appears in 1 contract

Samples: Deposit Agreement (Deutsche Bank Trust Co Americas/ ADR Group)

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Summary in Respect of CHESS and CUFS. The American Depositary Shares represent deposited CUFS. The Receipt shall contain the following description of CHESS and CUFS: CHESS CHESS facilitates the transfer of legal title and settlement of market transactions in Australia with an electronic subregister system. CHESS, which is operated by ASX Settlement and Transfer Corporation Pty Limited (herein called ASTC), is the approved securities clearing house (SCH) under s779B of the Xxxxxxxxxx Xxxxxxxxxxxx Xxx 0000 (the "Australian Corporations Act"). This allows legal title to equities to be validly transferred electronically by virtue of provisions in the Australian Corporations Act and the SCH Business Rules. Shares of the Issuer may be transferred and held indirectly in CHESS through the issue of CUFS.

Appears in 1 contract

Samples: Deposit Agreement (Hardie James Industries Nv)

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