Page:United States Statutes at Large Volume 81.djvu/187

 81 STAT.]

PUBLIC LAW 90-59-JULY 31, 1967

or his delegate, on or before August 15, 1967, the notification described in subparagraph (A); "(ii) such bank or trust company files a written request with the Secretary or his delegate to terminate such status; or "(iii) the Secretary or his delegate has reasonable cause to believe a participating custodian is failing to comply with the statutory provisions and procedural requirements described in subparagraph (A), and notifies the participating custodian of such noncompliance. Any termination of the status of a participating custodian in accordance with this subparagraph shall be effective as of the date specified in a notice to such participating custodian issued by the Secretary or his delegate which date shall be subsequent to the date on which information regarding the termination of such status is published for the purpose of informing the remaining participating custodians and participating firms. " (g) FILING or TitiVNSiTioN INVENTORY.—A participating firm and participating custodian which qualifies before August 15, 1967, shall, on or before August 15, 1967, file an inventory (designated as a transition inventory) with the Secretary or his delegate which shall include all stock of foreign issuers and debt obligations of foreign obligors carried in its records (on a trade-date basis) by such participating firm or participating custodian as of the close of business on July 14, 1967 (excluding, in the case of a member or member organization which becomes a participating firm after July 15, 1967, and in the case of a bank or trust company which becomes a participating custodian after July 15, 1967, stock and debt obligations not also carried in its records (on a trade-date basis) as of the close of business on the day prior to the day on which it became a participating firm or participating custodian), together with such information as may be required by the Secretary or his delegate. "(h)

TRANSFER OF CUSTODY CERTIFICATE.—

"(1) NATURE OF CERTIFICATE.—A certificate (designated as a transfer of custody certificate) may be issued' in accordance with paragraph (2) by a participating firm or participating custodian in connection with a delivery of stock of foreign issuers or debt obligations of foreign obligors which are carried in its records for the account of a United States person to another participating firm or participating custodian. " (2) AUTHORIZED TRANSFERS OF CUSTODY.—A participating firm or participating custodian shall issue a transfer of custody certificate only if, with respect to the stock or debt obligations described in such certificate, it has in its possession a statement, upon which it relies in good faith, executed under penalty of perjury, by the person for whose account the delivery is being made, establishing that such person is a United States person and is the owner of all stock of foreign issuers and debt obligations of foreign obligors carried in its records for the account of such person, and if either— " (A) such participating firm or participating custodian— "(i) carried in its records (on a trade-date basis) at the close of business on July 14, 1967, for the account of a United States person the stock or debt obligation described in the transfer of custody certificate; and "(ii) includes such stock or debt obligation in the transition inventory referred to in subsection (g) filed or to be filed on or before the due date by such participating

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