6.1.5 Holding custody investments (1) An INMA firm custody investments if: holds or controls (a) the investments are directly held by the firm; (b) they are held in an account in the name; or firm’s (c) they are held by a person, or in an account in the name of a person, controlled by the firm. (2) For subrule (1): (a) a person a custody investment if the document of title for holds the investment is in the or legal person’s physical possession, title to the investment is registered in the name; person’s (b) a person an account if the account is operated in controls accordance with the instructions; and person’s (c) an INMA firm a person if the person is inclined to act controls in accordance with the instructions. firm’s 6.1.6 Nominee A is a body corporate whose business consists solely of nominee acting as a nominee holder of relevant investments or other property.
6.1.5 Holding custody investments (1) An INMA firm holds or controls custody investments if: (a) the investments are directly held by the firm; (b) they are held in an account in the firm’s name; or (c) they are held by a person, or in an account in the name of a person, controlled by the firm. (2) For subrule (1): (a) a person holds a custody investment if the document of title for the investment is in the person’s physical possession, or legal title to the investment is registered in the person’s name; (b) a person controls an account if the account is operated in accordance with the person’s instructions; and (c) an INMA firm controls a person if the person is inclined to act in accordance with the firm’s instructions. 6.1.6 Nominee A nominee is a body corporate whose business consists solely of acting as a nominee holder of relevant investments or other property.
QFCRA_9583_VER3.docx