approved intermediary definition

approved intermediary means a person who is approved as such for the purposes of the Rules of the UK Inland Revenue relating to stocklending and manufactured interest and dividends;

approved intermediary means a person authorised under section 47 to perform the functions of an approved intermediary under this Chapter;

approved intermediary means a person approved as an intermediary under Article 5(1);

Examples of approved intermediary in a sentence

• Such failure to comply can result in the possible loss of rights in the collateral put up by the borrower of the securities, the inability of the Approved Intermediary to return the securities deposited by the lender and the possible loss of any corporate benefits accruing to the lender from the securities deposited with the approved intermediary.

• In the case of a Tranche of Notes where Euroclear France is acting as a central depository, Euroclear France upon initial deposit of a Global Note with it will credit each Approved Intermediary (as defined in the relevant Final Terms) including the correspondents of Euroclear and Clearstream, Luxembourg in Euroclear France with the nominal amount of Notes they are entitled to according to the records of Euroclear France.

• The Securities will be lent by the Approved Intermediary against collateral received from borrower, for a fixed period of time, on expiry of which the securities lent will be returned by the borrower.It may be noted that this activity would have the inherent probability of collateral value drastically falling in times of strong downward market trends, resulting in inadequate value of collateral until such time as that diminution in value is replenished by additional security.

• In the event that any option of the Issuer is exercised in respect of some but not all of the Notes of any Series, the rights of accountholders with a clearing system or Approved Intermediary in respect of the Notes will be governed by the standard procedures of Euroclear, Clearstream, Euroclear France (to be reflected in the records of Euroclear and Clearstream as either a pool factor or a reduction in nominal amount, at their discretion) or any other clearing system (as the case may be).

• Each Approved Intermediary will likewise credit each subscriber with a nominal amount of Notes equal to the nominal amount thereof for which it has subscribed and paid, and in the case of Notes held through Euroclear or Clearstream, Luxembourg, Euroclear or Clearstream, Luxembourg will then likewise credit each person appearing in the records maintained by each of them as entitled to such Notes with a nominal amount of Notes equal to the nominal amount thereof for which it has subscribed and paid.

More Definitions of approved intermediary

approved intermediary means a Securities Intermediary or a Commodity Intermediary, as applicable, in respect of a Securities Account, Commodities Account or Commodity Contract maintained by a Grantor, which is reasonably acceptable to the Administrative Agent and with respect to which such Grantor has delivered to the Administrative Agent an executed Control Agreement.

approved intermediary means a company duly registered as Market Maker or Custodian by the Commission through whom the lender will deposit the securities for lending and the borrower will borrow the securities.

approved intermediary means a person authorised under section

approved intermediary means a person duly registered by the Board under the guidelines/scheme through whom the lender will deposit the securities for lending and the borrower will borrow the securities;

approved intermediary means [Metropolitan Clearing Corporation of India Limited]4 registered with Securities and Exchange Board of India.

approved intermediary means a person approved by the competent body as an intermediary who may exercise an intermediary activity;

approved intermediary means an intermediary who is approved in accordance with such scheme as may be notified by the Central Government in the Official Gazette;