As the only securities depository in the country, CDC is entrusted with maintaining book-entry securities
worth trillions of rupees and manages a diversified portfolio of businesses including Trustee and Custodial Services and Share Registrar Services.
KARACHI -- The Central Depository Company (CDC) Limited will facilitate the transfer of book-entry securities
in the central depository system against the declaration of assets under the Government of Pakistan's tax amnesty scheme by way of the Voluntary Declaration of Domestic Assets Act, 2018 and the Foreign Assets (Declaration and Repatriation) Act, 2018.
The company also said that at its meeting to be held on 26 October 2017, the board will decide on the record and payment dates of the second instalment, in accordance with the rules of the Finnish book-entry securities
NCCPL became fully operational in 2003-04 and started catering to settlement of all book-entry securities
through NCSS, which has brought tremendous efficiency in the settlement mechanism and has reduced settlement risk significantly.
Unlike traditional issuances, where the bonds are book-entry securities
, Denver created a physical bond that would be mailed to investors.
The obligations will be represented by a global note (Global Note) deposited with Clearing Organization, a foreign (non-U.S.) limited trust company that operates an electronic book-entry securities
clearing and settlement system.
In this connection the SECP has recently approved a project of Automation of Securities Settlement which has jointly been implemented by NCCPL and CDC to facilitate the market participants to automate the mechanism for settlement of book-entry securities
by eliminating the need for any manual intervention.
Giovannini's group found that there were no EU-level rules on book-entry securities
(recorded electronically rather than held as a paper certificate) and that once securities were purchased, there were no guidelines on how they should be transferred from the seller to the buyer, especially where transactions were taking place between two or more EU member states.
The repercussions of these two incidents were critical factors in motivating market participants to move from definitive to book-entry securities
as quickly as they did.
The Federal Reserve and the Treasury explored ways to reduce the amount of time and paperwork associated with these transactions, and in January 1968 the Banks introduced book-entry securities
safekeeping and transfer.
(12.) See, e.g., Kinyuho iinkai [Financial Law Board], Shoken no furikae Kessai ni Kakaru hosei ni Kansuru chukan ronten seiri ni tsuite [Interim Note on Legal Rules Relating to Book-Entry Securities
Settlement], at 6 n.13 (Apr.