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Stock Nominee Agreement

However, on the basis of the experience gained and the balancing of the risks in question, a nominee shareholders` agreement signed and stamped is not sufficient on its own, even if it contains obligations of the nomin not to exercise the rights related to the shares. Since the number of unfortunate beneficiaries can confirm this in such agreements, the nominee may choose to break the agreement. Although the Nominee Shareholders` Agreement is conceptually simple, it does entail risks for the beneficiary that should be subject to severe treatment, failing which the beneficiary may be obliged to initiate proceedings to assert its rights and assets. As a rule, a stockbroker does not directly hold an investor`s foreign securities. The broker uses a third-party custodian, usually a division of a major global bank that offers such services. However, some international brokers have local subsidiaries that perform custody in some or all of their markets. Most of the pitfalls of such an agreement result from the fact that the nominee is placed in a position of control of the rights related to the actions concerned; In addition, the law does not require the company to recognize fiduciary or nominal participation agreements. To ensure that the shares are transferred to you, even if the nominee refuses or cannot arrange the transfer of shares, you can obtain a signed but undated share transfer form in your favour. You may wish to keep the share certificate (if the company concerned is a limited liability company). A nominee must make a refining statement of confidence that he or she has no advantage over the shares until the original shareholder is alive. This declaration is called a custody agreement. As part of the deposit agreement, the nominated shareholder holds the shares. Any person or entity may hold legal security in shares under appointment.

Even a minor can be a candidate for shares in a company. If the nominee is a minor, the shareholders shall designate any other person who, in the event of the death of the shareholders, will be entitled to shares during the minority of the nominee. An investor`s shares are legally held by the subsidiary or nominated company of a stockbroker that is not acting. The investor is the beneficial owner of the share and has rights to the shares. The stockbroker registers all beneficial owners, trades according to an investor`s instructions and transmits cash from sales or dividends to an investor. . . .