16. Transferability, etc., of securities

Terms defined in s 2

• book‑entry security

  book‑entry security

  Defined · s 2

  “book‑entry security” means any security issued under this Act in the form of an entry on the records of the MAS and which is transferable by way of book‑entry in the register maintained by the MAS, and not by way of an instrument of transfer;

  Open s 2
• pledge

  pledge

  Defined · s 2

  “pledge” includes a pledge of, or any interest which secures the payment of a debt or performance of an obligation (but not arising from a trust) in, any book‑entry security —(a)as collateral for loans or advances; or (b)to secure deposits of public moneys or the performance of an obligation;

  Open s 2