Austraclear Services Limited (ACSL): Registry and Issuing and Paying Agency Service
Austraclear Services Limited (ACSL) is a wholly owned subsidiary of Austraclear Limited that provides Registry and Issuing and Paying Agency services under the terms of a Registry and IPA Agency Agreement between issuers and ACSL. A copy of the pro-forma Agreement and Standard Terms is available from Austraclear Business Documents.
ACSL provides the following specific services as registrar or issuing and paying agent:
Registry (see Part C of the Standard Terms for more detail)
- Maintenance of the register
- Holding of issue documentation
- Provision of certificates (if required)
- Availability of register for inspection
- Provision to eligible third parties of copies of issue documentation
Issue Agency (see Part B of the Standard Terms for more detail)
- New security set up in the Austraclear System
- Deposit of new securities into the relevant Austraclear System security records
- Transfer of new securities through the Austraclear System to the initial purchasers on a DvP or FoP basis, in line with the issuer's trade instructions and ACSLs conditions of service (refer "Key changes to ACSLs service offering" below)
- Facilitation of early redemptions or withdrawals of securities from the Austraclear System
- Provision of Record Date Reports for each interest payment date and maturity date.
Paying Agency (see Part D of the Standard Terms for more detail)
- Not available if issuer is an Austraclear System Participant with a technical connection to the Austraclear System
- Payment of maturity proceeds, interest and other amounts in respect of securities in accordance with issuer instructions
Calculation Agency (see Part E of the Standard Terms for more detail)
- Provision to issuer of reports detailing Austraclear System generated calculations of interest for standard fixed and floating rate (BBSW) securities.
Withholding Tax Collection Agency (see Part F and Schedule 3 of the Standard Terms for more detail)
- Collection of TEFRA-D and W-8BEN certificates for US based issuers
- Retention of certificates for required timeframes
- Deduction of US withholding tax where necessary and prompt remittance to the issuer
- Collection of tax certificates for other issues on a case-by-case basis after discussion and agreement.