Agreement requirements for bankers to an issue ensure formalised collection and daily reporting of investor applications to issuers. Every banker acting as banker to an issue must execute a formal agreement with the body corporate specifying the number of collection centres, the timelines for forwarding statements of applications and application monies to the registrar or body corporate, and a requirement that the designated controlling branch send a daily statement to the registrar indicating the number of applications received and the amount of application money collected.
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Provisions expressly mentioned in the judgment/order text.
Agreement requirements for bankers to an issue ensure formalised collection and daily reporting of investor applications to issuers.
Every banker acting as banker to an issue must execute a formal agreement with the body corporate specifying the number of collection centres, the timelines for forwarding statements of applications and application monies to the registrar or body corporate, and a requirement that the designated controlling branch send a daily statement to the registrar indicating the number of applications received and the amount of application money collected.
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