Can I choose not to hold my shares in custody?
ASB Nominees – as this is an elective service you can choose to hold your shares in your own name by exiting ASB Nominees. However, if you are a Margin Lending client, you are required to hold shares with an approved custodian as part of your loan agreement.
If you wish to sell holdings on overseas markets, ASB Securities requires you to hold your shares in custody to facilitate the settlement process with our offshore counterparties. If you wish to remove your shares from custody, you can choose to transfer them elsewhere. ASB Securities will charge you a transfer fee to facilitate this.
The loan agreement says it is to be held by ASB Nominees or a third party nominee that ASB or ASB Sec (acting on behalf of ASB) may accept at their discretion. This means that it could be held by a different nominee.
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