Transitional provisions on section 95(2) and section 97(1)

(1) Delivery of individual securities may not be demanded, under sections 7 and 8 of the Custody Act, for bearer unit certificates and profit-participation certificates not yet due held in collective safe custody.
(2) Holders of profit-participation certificates that fell due before 1 January 2017 may assert the payment claims arising from them against presentation of these profit-participation certificates to the depositary of the relevant collective investment fund. Where the profit-participation certificates are redeemed at the depositary, it may make the payment amount only to a domestic credit institution for onward transmission to an account maintained for the presenter. Where a credit institution accepts the profit-participation certificates for redemption, it may make the payment amount only through an account maintained for the presenter with it domestically.
(3) Bearer unit certificates not held in collective safe custody with one of the bodies named in section 97(1), second sentence, by the end of 31 December 2016, become void at the end of 31 December 2016. Where profit-participation certificates are issued to bearer, the voidance also extends to the profit-participation certificates not yet due. The rights evidenced in the bearer unit certificates under the first sentence and the profit-participation certificates under the second sentence are instead to be evidenced under section 95(2) as of 1 January 2017. The previous owners of the void unit certificates become co-owners of the global certificate in proportion to their units. The global certificate is to be held in custody under section 97(1), second sentence. The co-ownership shares in the collective holding are credited to a separate custody account of the depositary.
(4) Only by presenting a void bearer unit certificate to the depositary may the presenter demand the crediting of a corresponding co-ownership share in the collective holding to a custody account to be designated by, and maintained for, them. The voidance of the bearer unit certificate under subsection (3) does not preclude a declaration of voidance of the instrument under section 799 of the Civil Code. The depositary may make payments only to an account it maintains for the presenter, or to another credit institution for onward transmission to an account maintained for the presenter by that institution; the depositary is not required to pay interest on these payments.