المادة 11: Appointment of Court-Appointed Receiver over the Investment Account

Article 11: Appointment of Court-Appointed Receiver over the Investment Account

When a court-appointed receiver is appointed over an investment account, the capital market institution must comply with the following:

a) The capital market institution, before permitting a judicial receiver to have access to an investment account, must obtain and verify information of a final decision or a decision subject to expeditious execution issued by the competent judicial authority that includes the appointment of judicial receiver and its authorities, and also obtain and verify information of the judicial receiver's valid national identification card if he is a natural person, or information of the commercial register of the judicial receiver and the information of the national identification card of its representative if it is a legal person.

b) The investment account information must show that the investment account is under judicial receivership.

c) Only the court-appointed receiver shall have the authority to operate the investment account and sign for its transactions, unless the judicial authority's decision provides otherwise.