CBB Volume 6: Contents

Central Bank of Bahrain Volume 6—Capital Markets
Part A
Institutions
CSD — Clearing, Settlement and Depository
CSD-2 Clearing House and Central Depository Function
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Location: Central Bank of Bahrain Volume 6—Capital Markets > Part A > Institutions > CSD — Clearing, Settlement and Depository > CSD-2 Clearing House and Central Depository Function > CSD-2.8 Entries in Securities Accounts > Charging or Pledging of Securities > CSD-2.8.7
  • Charging or Pledging of Securities

    • CSD-2.8.6

      The central depositoryG shall include in its Business Rules the rules and procedures in respect of the pledge of securitiesG , including the acceptance of a pledge by a beneficial ownerG and the responsibilities of the pledger in respect of effecting the pledge.

      Amended: April 2016

    • CSD-2.8.7

      Where a deposited security is charged or pledged by a securities holder (hereinafter referred to as "pledger") in favour of any personG ("pledgee"), a central depositoryG or a depository participantG , with or through whom the securities accountG of the securities holder is maintained shall, on a request on the prescribed form made by the securities holder or pledger, create a pledge on the relevant securities within the securities accountG .

      Amended: April 2016

    • CSD-2.8.8

      Where a request is made by a securities holder as provided under Paragraph CSD-2.8.7, such request shall be supported by documents evidencing such charge or pledge.

      Amended: April 2016

    • CSD-2.8.9

      Where a pledge over a deposited securityG has been discharged or released, the central depositoryG or its depository participantG , as the case may be, shall, upon receipt of a notice in writing from the pledgee confirming the same, release the pledge within the securities accountG of the pledger.

      Amended: April 2016

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