Clearing Law definition

Clearing Law means Federal Law No. 7-FZ “On Clearing, Clearing Activities and a Central Counterparty” dated 7 February 2011.
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Clearing Law means the Law Concerning Central Clearing of Bonds, Share Certificates and Other Securities of Japan (Law No. 75 of 2001, as amended);
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Examples of Clearing Law in a sentence

  • Accordingly, it is acknowledged and agreed that, on or after such certain provisions of the Clearing Law coming into force, transfer of title to Shares under the book-entry transfer system in accordance with the provisions of the Clearing Law shall be deemed to constitute delivery of certificates for such Shares for the purposes of this Deposit Agreement and the Receipts.

  • On or after certain provisions of the Clearing Law coming into force, the Issuer will not be permitted to issue or deliver certificates for Shares and the Shares will, in place of delivery of certificates for Shares, be transferred under the book-entry transfer system established under the Clearing Law.

  • In November 2017, the full implementation of the Electronic Check Clearing Law was completed,7 another step in the transition to a world of sophisticated means of payment.The work of the Payment and Settlement Systems Division is designed to encourage innovation in means of payment and in the payment systems, also included the integration of advanced technology in the check clearing process through legislative change and technological developments.

  • Implementing this law will revolutionize interbank check clearing and will create a check clearing system in Israel that is on par with the standards accepted in the advanced world.The Electronic Check Clearing Law was passed by the Knesset in February 2016, and its latest implementation date was also defined as February 2018.

  • The project, managed by the Banks Clearing House Committee,8 was initiated in 2013, marked by the drafting of the Electronic Check Clearing Law.

  • The Electronic Check Clearing Law makes it possible to increase the efficiency and speed of the check clearing 7 http://www.boi.org.il/en/NewsAndPublications/PressReleases/Pages/27-11-17.aspx8 The project was managed by Committee Chair Ronit Chitayate, Head of the Payment and Clearing Systems Division of the BOI, and by Committee Secretary and Project Coordinator Ori Altalat, Head of the Payment Systems Policy Unit at the BOI.

  • The TCP/IP protocol suite was designed with the end-to-end principle [100] in mind.

  • The legal basis for netting is the Clearing Law 7-FZ.The settlement finality is facilitated by settlement organizations and the settlement depository (NSD).

  • This document should be synchronized with the Clearing Law, which includes provisions relating to close-out netting procedure.

Related to Clearing Law

  • Clearing Agent means Clearstream Banking AG, Euroclear Bank S.A., and Clearstream Banking S.A. and such further or alternative clearing agent(s) or clearance system(s) as may be approved by the Issuer from time to time and notified to the Holders in accordance with General Condition 4 (each a “Clearing Agent” and together the “Clearing Agents”);

  • Clearing Bank means the Bank or any other banking institution with whom a Payment Account has been established pursuant to a Blocked Account Agreement.

  • Clearing Agency means an organization registered as a “clearing agency” pursuant to Section 17A of the Exchange Act.

  • Clearing System means Monte Titoli S.p.A., with offices in Piazza degli Affari no. 6, Milan, Italy ("Monte Titoli").

  • Clearing means the clearing and removal of vegetation, whether partially or in whole, including trees and shrubs, as specified;

  • Clearing Account means the account so designated and established by Section 5.04(1) hereof.

  • Clearing Agreement means Clearing, Settlement and Sponsorship Services Agreement by and between the Borrower and Fifth Third Bank dated as of July 27, 2016, as the same may be amended, modified, supplemented, restated, amended and restated or replaced from time to time.

  • Foreign Clearing Agency means Clearstream and the Euroclear Operator.

  • Clearing Agency Participant means a broker, dealer, bank, other financial institution or other Person for whom from time to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with the Clearing Agency.

  • Clearing Systems means, in relation to a Series of Securities, any of Euroclear, Clearstream, Luxembourg and DTC, as the case may be, and includes any additional or alternative clearing systems specified in the Issue Terms.

  • Clearing Firm or “Clearing Member” means an entity or individual meeting the requirements of, and approved for, clearing membership at the Clearing House that is authorized pursuant to the Clearing House Rules to clear trades in any or all of the Contracts and that meets the qualification of the Exchange pursuant to Rule 902. A Clearing Firm is authorized to access Eris Exchange to effect transactions. A Clearing Firm may trade for its own proprietary account or an account on behalf of its Customer (e.g., as a broker). A Clearing Firm may trade on behalf of a Customer with an account at a different Clearing Firm acting as a broker or performing an equivalent agency function. The different Clearing Firm is responsible for approving the Clearing Firm for such Customers pursuant to a Clearing Participant Letter of Guarantee. The term “Clearing Firm” collectively refers to all Authorized Traders of a Clearing Firm authorized to utilize Eris Exchange.

  • Clearing Rules means, as the case may be, (a) the general rules, operational procedures and other applicable rules, procedures and regulations of HK-DCASS from time to time in force; and/or (b) the rules, procedures and regulations of the relevant Foreign Clearing System, from time to time in force;

  • Clearing Organization means (a) The Depository Trust Company, or, if agreed to by Borrower and Lender, such other “securities intermediary” (within the meaning of the UCC) at which Borrower (or Borrower’s agent) and Lender (or Lender’s agent) maintain accounts, or (b) a Federal Reserve Bank, to the extent that it maintains a book-entry system.

  • Clearing Participant means a person admitted as a participant under the Clearing Rules.

  • Clearing Member means a registered broker-dealer which is a clearing member under the rules of O.C.C. and a member of a national securities exchange qualified to act as a custodian for an investment company, or any broker-dealer reasonably believed by the Custodian to be such a clearing member.

  • European Clearing Systems means, collectively, Clearstream, Luxembourg and Euroclear.

  • Approved Clearing Agency means any other domestic clearing agency registered with the Securities and Exchange Commission under Section 17A of the Securities Exchange Act of 1934 which acts as a securities depository but only if the Custodian has received a certified copy of a resolution of the Board approving such clearing agency as a securities depository for the Trust.

  • Recognised Clearing System means any clearing system listed in Section 246A of the Taxes Act (including, but not limited to, Euroclear, Clearstream Banking AG, Clearstream Banking SA and CREST) or any other system for clearing shares which is designated for the purposes of Chapter 1A in Part 27 of the Taxes Act, by the Irish Revenue Commissioners, as a recognised clearing system.

  • Clearing Account Agreement means that certain Clearing Account - Deposit Account Control Agreement dated the date hereof among Borrower, Lender and Clearing Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to funds deposited in the Clearing Account.

  • Foreign Securities Depository means a foreign securities clearing system qualifying as an Eligible Securities Depository (as defined in Section (b)(1) of Rule 17f-7 under the 0000 Xxx) that is listed on Schedule B annexed hereto, as amended from time to time pursuant to Section 4.5 hereof.

  • Depository The Depository Trust Company, or any successor Depository hereafter named. The nominee of the initial Depository for purposes of registering those Certificates that are to be Book-Entry Certificates is Cede & Co. The Depository shall at all times be a "clearing corporation" as defined in Section 8-102(a)(5) of the Uniform Commercial Code of the State of New York and a "clearing agency" registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended.

  • Foreign Depository means (a) Euroclear, (b) Clearstream Banking, societe anonyme, (c) each Eligible Securities Depository as defined in Rule 17f-7 under the Investment Company Act of 1940, as amended, identified to the Fund from time to time, and (d) the respective successors and nominees of the foregoing.

  • Relevant Clearing System means (i) Euroclear, (ii) Clearstream, Luxembourg, or (iii) any other recognised clearing system in which ETP Securities of a Series may be cleared.

  • Clearing Costs means all of the Investor’s broker and Transfer Agent fees. “Clearing Date” shall be the date on which the Investor receives the Put Shares as DWAC Shares in its brokerage account.

  • Clearing System Business Day means in relation to an Index, any day on which the principal domestic clearing systems customarily used for settling trades in securities comprising such Index is (or, but for the occurrence of an event beyond the control of the Company or the Hedging Counterparty as a result of which such clearing system cannot clear the transfer of such securities, would have been) open for the acceptance and execution of settlement instructions.

  • Depositary means, with respect to the Notes issuable or issued in whole or in part in global form, the Person specified in Section 2.03 hereof as the Depositary with respect to the Notes, and any and all successors thereto appointed as depositary hereunder and having become such pursuant to the applicable provision of this Indenture.