Bahrain Bourse (BHB) Material: Contents

Bahrain Bourse (BHB) Material
BHB Clearing, Settlement & Central Depository & Registry Rules
Resolution No. (3) for the Year 2000 with Respect to the Clearing, Settlement, Depository and Registry Rules
Article 54 Transfer and Entry Processing
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Article 54 Transfer and Entry Processing

54.1 The CSU shall effect any transfer or entry pursuant to an instruction which must be attached with a true and original copy of the relevant court order delivered for execution purposes, in accordance with Article (261) of the CCP.
54.2 The CSU shall effect a transfer, movement, or any other book-entry (transaction) in connection with a securities account, either on its own or on behalf of the securities holder (client) by:
54.2.1 Verifying the relevant copy of the court order;
54.2.2 Entering the appropriate information regarding the transaction into the CSDR System.
54.2.3 Posting and approving the transaction into the CSDR System.
54.3 In the case of an enforcement order (distress statement) issued pursuant to Article (280) of the CCP, instructing the CSU to effect a lien on the holder's (debtor's) securities, the CSU shall, together with the lien, enter and record into the Central Securities Registry the Participant nominated by the execution Court Judge to sell the securities in question. Such securities may be sold or dealt with strictly and exclusively, in accordance with the instruction of the Participant nominated by the execution Judge.
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