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 following is a summary 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 Australians Corporation Law and the SCH Business Rules. Shares of the Company may be transferred and held indirectly in CHESS through the issue of CUFS. CUFS CUFS are a unit of beneficial ownership in a security of a foreign issuer, registered in the name of the depositary nominee. The depositary nominee for the Company is CHESS Depositary Nominee Pty Limited (herein called the CUFS Depositary). The CUFS Depositary is a subsidiary of Australian Stock Exchange Limited (herein called the ASX). The principal executive office of the CUFS Depositary is located as of the date of the Deposit Agreement at Xxxxx 0, 00 Xxxxxx Xxxxxx, Xxxxxx XXX 0000, Xxxxxxxxx. The Articles of Association of the Company contain certain provisions that are relevant to CUFS holders, including, without limitation, any provisions therein relating to substantial shareholdings and any provisions therein relating to a change in control of the Company. In addition, the terms and conditions relating to CUFS are determined in accordance with the Australian Corporations Act and the SCH Business Rules. Those principal terms and conditions are briefly described as follows:

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 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 Australians Corporation Law Axxxxxxxxx Xxxxxxxxxxxx Xxx 0000 (herein called the Australian Corporations Act) and the SCH Business ASX Settlement Rules. Shares of the Company cannot be directly transferred and held through CHESS, but may be transferred and held indirectly in CHESS through the issue of CUFS. CUFS CUFS are a unit of beneficial ownership in a security of a foreign issuer, registered in the name of the depositary nominee. The depositary nominee for the Company is CHESS Depositary Nominee Nominees Pty Limited (herein called the CUFS Depositary). The CUFS Depositary is a subsidiary of Australian Stock Exchange ASX Limited (herein called the ASX). The principal executive office of the CUFS Depositary is located as of the date of the Deposit Agreement at Xxxxx Lxxxx 0, 00 Xxxxxx Xxxxxx, Xxxxxx XXX 0000, Xxxxxxxxx. The Articles of Association of the Company, together with the laws of Ireland where the Company is incorporated, contain certain provisions that are relevant to CUFS holders, including, without limitation, any provisions therein relating to substantial shareholdings and any provisions therein relating to a change in control of the Company. In addition, the terms and conditions relating to CUFS are determined in accordance with the Australian Corporations Act and the SCH Business ASX Settlement Rules. Those principal terms and conditions are briefly described as follows:

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 following is a summary 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 Australians Corporation Law and the SCH Business Rules. Shares of the Company may be transferred and held indirectly in CHESS through the issue of CUFS. CUFS CUFS are a unit of beneficial ownership in a security of a foreign issuer, registered in the name of the depositary nominee. The depositary nominee for the Company is CHESS Depositary Nominee Pty Limited (herein called the CUFS Depositary). The CUFS Depositary is a subsidiary of Australian Stock Exchange Limited (herein called the ASX). The principal executive office of the CUFS Depositary is located as of the date of the Deposit Agreement at Xxxxx 0, 00 Xxxxxx Xxxxxx, Xxxxxx XXX 0000, Xxxxxxxxx. The Articles of Association of the Company contain certain provisions that are relevant to CUFS holders, including, without limitation, any provisions therein relating to substantial shareholdings and any provisions therein relating to a change in control of the Company. In addition, the terms and conditions relating to CUFS are determined in accordance with the Australian Corporations Act and the SCH Business Rules. Those principal terms and conditions are briefly described as follows:

Appears in 1 contract

Samples: Deposit Agreement (Hardie James Industries Nv)

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