2
Securities Management Trust Ltd or National Bank of Kuwait Ninees Ltd, nominee companies of the Bank of England and National Bank of Kuwait, London Branch respectively.
It will be
the responsibility of the Settlement Agent to ensure the receipt in due course of the certificate of title to the securities, and that it bears the correct registration details.
Sales by KIO
Sales of equities on behalf of the KIO may be effected by brokers and permission will be given specifically to the Bank of England and National Bank of Kuwait, London Branch to release from their custody documents of title to such securities subject to the settlement monies being credited to a Kuwaiti Account.
Lending of equity securities
Equity lending transactions may be entered into by the KIO subject to implementation of the transaction being effected through either the Bank of England, Securities Office or National Bank of Kuwait, London Branch as agents of the KIO. Specific permission will be given to the Securities Office and the London Branch to enable them to release from their custody securities which are to be lent subject to the receipt of collateral in the form of either cash, by way of bankers' payment or town cheque, or securities to a similar or greater value than the securities being lent.
Underwriting
The KIO may participate in the underwriting of sterling securities provided settlement is effected in the same manner as purchases of
equities set out above.
Bearer securities
Brokers may effect transactions in bearer securities on behalf of the KIO but settlement of such transactions may be effected only
The Bank of through the Bank of England, Securities Office. England, Securities Office will be given specific permission to