QUALIFICATION FOR MEMBERSHIP OF THE BULLION EXCHANGE OR BULLION CLEARING CORPORATIONInternational Financial Services Centres Authority (Bullion Market) Regulations, 2025
QUALIFICATION FOR MEMBERSHIP OF THE BULLION EXCHANGE OR BULLION CLEARING CORPORATIONInternational Financial Services Centres Authority (Bullion Market) Regulations, 2025
Bullion withdrawal procedures require depository approval, vault delivery against documentation, and proof of sufficient reason for non-delivery. Withdrawal of bullion represented by bullion depository receipts requires the bullion depository to approve a beneficial owner's request and notify the ... Summary
Bullion withdrawal procedures require depository approval, vault delivery against documentation, and proof of sufficient reason for non-delivery.
Withdrawal of bullion represented by bullion depository receipts requires the bullion depository to approve a beneficial owner's request and notify the relevant vault manager. The vault manager must deliver the bullion after required documents are produced and written receipt is acknowledged. A vault manager refusing or failing to deliver bears the burden of proving sufficient reason. Withdrawal from the vault must be intimated to the bullion depository.
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