Vaulting services regulation: defines Vault Manager, Electronic Gold Receipt processes, and standards for custody and testing. Regulation defines the Vault Manager and vaulting service for gold trading in Electronic Gold Receipt, specifying storage and safekeeping, use of assayers ... Summary
Vaulting services regulation: defines Vault Manager, Electronic Gold Receipt processes, and standards for custody and testing.
Regulation defines the Vault Manager and vaulting service for gold trading in Electronic Gold Receipt, specifying storage and safekeeping, use of assayers empanelled with stock exchanges for purity testing, coordination with depositories for creation, transfer and extinguishment of Electronic Gold Receipt, and provision of deposit, storage and withdrawal services to beneficial owners; it also defines Depositor, Beneficial Owner, Recognized Vault and Gold Standard, aligns undefined terms with other securities and company laws, and links Change in Control definitions for corporate vault managers to takeover and company law control concepts.
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