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Corporate actions

A corporate action represents an action taken by an entity which affects the capital structure of the entity. Actions can be mandatory, such as share reconstructions, or voluntary, such as entitlement offers and share purchase plans.

Bond Street Custodians Limited (BSCL) provides all relevant information to your adviser about corporate actions impacting your account through the "Corporate Actions Calendar", viewable by your adviser on our website. Your adviser will need to rely upon the Corporate Actions Calendar to check for any corporate action information that may be relevant to your account.

Following receipt of documentation from the issuer or registry, in addition to making the details available via the Corporate Actions Calendar, we may, at our discretion, forward to your adviser any documentation received, or may advise, either in writing or verbally, where information may be obtained in relation to a corporate action. When this occurs, we will ask for your decision via your adviser and will respond in accordance with your wishes. These instructions must be provided to us 3 business days prior to the published closed date of the action unless otherwise communicated.

Where an additional payment is required, you must ensure that you have sufficient available cash in your Cash Account as at 9.00am Sydney time on the nominated cut-off date for your instruction to be accepted as authorised. Where notification has been received after the nominated cut-off date and time and/or where insufficient available cash or security holdings result in our inability to act, we will not accept any liability.

You cannot vote at shareholder meetings or participate in bonus share plans (offered on some securities, enabling security holders to elect to receive fully paid bonus shares instead of cash dividends) on investments held in your account.

Partly paid securities

Please ensure you have sufficient available cash in your Cash Account to meet unpaid instalment payments when required. Where there is insufficient available cash in your Cash Account to meet unpaid instalment payments, we reserve the right to sell down your investment holdings to meet these payments. In these circumstances, money will be drawn from the following investments, starting with the highest balance, in the following order:

  • daily transacting managed investment(s)
  • non-daily transacting managed investment(s)
  • ASX listed securities
  • term deposits.