- Bearer stock certificates are becoming uncommon : they were popular in offshore jurisdictions for their perceived confidentiality, and as a useful way to transfer beneficial title to assets ( held by the corporation ) without payment of stamp duty.
- However, no real steps have been taken in any of those jurisdictions to address the fundamental conceptual issues of where the beneficial title to the trust assets should be regarded as residing whilst they form part of the trust fund.
- It would be anomalous, against that background, to create a range of home-buyers who were beyond the pale of equity's assistance in formulating a fair presumed basis for the sharing of beneficial title, simply because they had been honest enough to admit that they never gave ownership a thought or reached any agreement about it . }}
- Registry of Scripless Securities ( RoSS ) is the official record of absolute ownership, legal or beneficial title or interest in GS . Upon award of GS to a GSED at the auction, the securities award record are downloaded electronically into the GSED s Securities Principal Account in RoSS . Every sale of GS by a dealer reduces its Securities Principal Account in RoSS . Conversely, every purchase of GS by a GSED increases its Securities Principal Account in RoSS . The ownership / interest of secondary market buyer, trustee, pledgee, etc . of GS is recorded in the Securities Client Account in RoSS . The recording is done by merely keying-in the trade at the respective BIS terminals of the trade counter-parties and within seconds the trade information is received by the RoSS . At the end of trading hours, all matched trades ( confirmed by both counterparties ) are referred to the Bangko Sentral ng Pilipinas ( BSP ) for settlement ( debit of GSED buyer and credit of GSED seller Demand Accounts ).