IHTM27077 - Locality of assets (situs): Eurobonds and American depository receipts

The situs of securities dealt with through computerised clearing systems (e.g. Euroclear; CEDEL) is regarded as determined by the terms of issue of the particular security. Questions relating to the situs of such securities must be referred to TG. Questions relating to the situs of American depository receipts (ADRs) must similarly be referred.

Your Team Leader must be consulted in Scotland.