Vaulting loss indemnification requires vault managers to compensate beneficial owners for losses arising during vaulting services under prescribed procedures. Regulation 15 requires a Vault Manager to indemnify a beneficial owner for loss caused in the course of providing vaulting services. The manner of ... Summary
Vaulting loss indemnification requires vault managers to compensate beneficial owners for losses arising during vaulting services under prescribed procedures.
Regulation 15 requires a Vault Manager to indemnify a beneficial owner for loss caused in the course of providing vaulting services. The manner of indemnification is subject to requirements specified by the Board from time to time. The revised formulation confines the stated indemnity entitlement to the beneficial owner, whereas earlier language extended indemnification to a depositor or beneficial owner and expressly linked the loss to the Vault Manager.
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