At present and according to the act of pledging the securities approved by the board of directors of the Securities & Exchange Organization of Iran (SEO) on 20 July 2005, securities pledging of the companies listed in the Tehran Stock Exchange and Iran Farabourse is possible as follows:
To process the application of securities pledging depends on sending the written application matching pre-set forms to CSDI (you can download the form at the top of this page)
If the application form has been filled out by the attorney, then a copy of the letter of attorney of pledging the securities drawn out in a notary public needs to be attached and sent.
The application for payment fee and its documentation along with the other documents need to be sent to CSDI in order to pledge securities (Pledging fee is calculated according to the table of fee rates adding to value added. Refer to the top of this page for calculating the fee)
The bank account number of 0205393622001 (SHEBA number: IR 080170000000205393622001) in Melli Bank or 84/42323150 (SHEBA number: IR 940120020000004232315084) belong to CSDI considered for paying the pledging fee. The certificates of transaction and deposit of pledged securities are kept within CSDI.
Releasing the pledged securities is done by the written application of the person in favor of whom the securities are pledged to CSDI matching the pre-set forms. Writing the history of primary pledging (number/date of the letter) is necessary.
Selling the pledged securities depends on sending the filled out pre-set forms and introducing the selling broker by the person in favor of whom the securities are pledged along with the letter of attorney drawn up in a notary public allowing for selling and paying the money gained by the sale and the other documentation (gazette, etc) to CSDI.
It is a service offered by CSDI for making the person in favor of whom the securities are pledged aware of the number of pledged securities, primary pledging and their asset increase, etc. The person in favor of whom the securities are pledged needs to send their application along with declaration of the history of pledging (number and date) and blocked stocks accounts to CSDI.
The members of the board of directors of the companies listed in the Tehran Stock Exchange or Iran Farabourse need to buy some of the company’s stocks and pledge them according to the law. The company based on the pre-set forms declares and sends the name of the members of the board of directors along with the minutes of the general meeting or the gazette depicting the name of the members of the board of directors.
Considering the following items in the letter of attorney drawn in notary publics in order to pledge the securities in the post-trade system is necessary. The specification of authorization of the attorney in pledging/hypothecation or blocking the securities belonging to the client
Considering the following items in the letter of attorney drawn up in a notary public for pledged securities sale is necessary:
The specification of authority or lack of authority of the attorney in receiving the money gained by the pledged securities saleNote: drawing up two separate letters of attorney for pledging and selling the pledged securities is not necessary and the client can draw up the aforementioned items at the bottom of the letter of attorney.
|5 Rials for every stock||Up to 25 million stocks|
|4 Rials for every stock||Surplus of 25 million stocks to 50 million stocks|
|3 Rials for every stock||Surplus of 50 million stocks to 75 million stocks|
|2 Rials for every stock||Surplus of 75 million stocks to 100 million stocks|
|1 Rials for every stock||Surplus of 100 million stocks|