Transfers and pledges effected by other means
136.—(1)  Notwithstanding section 135, a transfer or pledge of book-entry MAS securities, or any interest therein, which is maintained by the Authority in an account may be effected by any means that would be effective to effect a transfer or pledge of book-entry MAS securities, or any interest therein, if the securities were issued by the Authority in the form of engraved or printed certificates.
[Act 31 of 2017 wef 04/06/2018]
(2)  The Authority shall be deemed not to be —
(a)a bailee for the purposes of notification of pledges of book-entry MAS securities not effected in accordance with section 135; and
[Act 31 of 2017 wef 04/06/2018]
(b)a person in possession of book-entry MAS securities for the purposes of acknowledgment of transfers of such securities not effected in accordance with section 135.
[Act 31 of 2017 wef 04/06/2018]
(3)  Where book-entry MAS securities are recorded on the books of a depositary institution for account of the pledgor or transferor thereof and such securities are on deposit with the Authority in an account, that depositary institution shall, for the purposes of effecting delivery of the securities to a purchaser or pledgee, be deemed to be —
(a)the bailee to which notification of the pledge of the securities may be given; or
(b)the person in possession from which acknowledgment of the holding of the securities may be obtained.
(4)  The Authority shall not accept any notice or advice of a transfer or pledge of any book-entry MAS securities not effected in accordance with section 135 and any such notice or advice shall be void.
[Act 31 of 2017 wef 04/06/2018]
(5)  The Authority may continue to deal with its depositor in accordance with this Part notwithstanding any transfer or pledge not effected in accordance with section 135.
[Act 31 of 2017 wef 04/06/2018]
[Act 9 of 2013 wef 18/04/2013]