Versions

 

Article 14 Execution Order and Universal Succession

14.1 In the case of a court execution order for the collection of a claim, the right of a lien on securities for the benefit of the creditor shall be entered into the Central Securities Registry, on the debtor's securities account.
14.2 For the execution of a lien entered on the basis of a court order, securities shall be transferred to the buyer's securities account on the basis of that court order, or on the basis of trade carried out by the Participant authorized by the court to sell the securities in question on behalf of the creditor.
14.3 In the case of a court order for the execution and delivery of securities to the creditor, such securities shall be transferred through the Central Securities Registry from the debtor's securities account to the creditor's account.
14.4 In the case of a universal legal succession (inheritance, liquidation of a company etc.), the securities shall be transferred from the holder's account to the successor's account on the basis of the final order on inheritance, liquidation, or other relevant title through public notification in the case of liquidation.
14.5 In the case of other transactions exempt from execution on the Trading Floor, securities shall be transferred from the holder's account to the beneficiary's, subject to Article (36) of the BSE's Internal Regulations and Resolution No. 13/1988, as amended by Resolution No. 8/1993.