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Where securities must be borrowed through competitive bid transactions or negotiated transactions on the second business day prior to the book closure date, such borrower will lose his or her voting right at the special shareholders meeting.
A securities finance enterprise handling on the second business day prior to the book closure date a securities firm's application for re-financing of securities for redelivery of securities borrowed shall deny such application if, due to insufficiency of securities, securities need to be borrowed through competitive bid transactions or negotiated transactions on the business day preceding the book closure date.
A securities finance enterprise shall not conduct competitive bid transactions or negotiated transactions on the business day preceding the book closure date, for the purpose of handling applications for re-financing of securities for redelivery of securities borrowed for margin loans for stock loans, or for securities borrowing and lending.
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