Examples of Recognised Clearing System in a sentence
As the Company is an Irish company, the operation of a Recognised Clearing System in respect of any dematerialised Shares would be governed by the Companies Act, 1990 (Uncertificated Securities) Regulations, 1996.
In such circumstances, the relevant Funds will apply for admission for clearing and settlement through an appropriate Recognised Clearing System.
To the extent any Shares are not held in a Recognised Clearing System at the time of a chargeable event (and subject to the discussion in the previous paragraph relating to a chargeable event arising on a deemed disposal), the following tax consequences will typically arise on a chargeable event.
No details are to be reported in respect of Shareholders who are; • Exempt Irish Investors (as defined above);• Shareholders who are neither Irish Resident nor Ordinarily Resident in Ireland (provided the relevant declaration has been made); or• Shareholders whose Shares are held in a Recognised Clearing System.
To the extent any Shares are not held in a Recognised Clearing System at the time of a chargeable event (and subject to the point made in the previous paragraph in relation to a chargeable event arising on a deemed disposal), the following tax consequences will typically arise on a chargeable event.