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Financial Markets Act, 2012 (Act No. 19 of 2012)

Chapter IV : Custody and Administration of Securities

General provisions relating to custody and administration of securities

46. Effectiveness in insolvency

 

Any issuance, deposit, withdrawal, transfer, attachment, pledge, cession in securitatem debiti or other instruction in respect of securities or an interest in securities that has become effective against third parties, is effective against the insolvency administrator and creditors in any insolvency proceeding.