Chapter Four The Securities Depositary Center - Article Twenty Seven

​a. The registration of ownership of Securities traded on the Exchange and the settlement and clearance of Securities shall be made by entries in the Depositary Center’s records. Ownership of Securities traded on the Exchange must be registered with the Depositary Center in order to be protected against third party claims. The Depositary Center’s records will also report pledges or other claims related to the Securities traded on the Exchange.

b. The Depositary Center shall be the sole entity to register all property rights in Securities traded on the Exchange. The final mentions reported in the records of the Depositary Center shall serve as conclusive evidence and proof of ownership of the Securities indicated therein together with the encumbrances and rights associated therewith, subject to the provisions of paragraph (d) of this Article.

c. Registration of ownership of Securities shall be effective from the time of final verification by the Depositary Center of the authenticity of the ownership documents. The Depositary Center shall promptly register all transactions effected upon being reported to and received by the Depositary Center with no delay. If the Depositary Center has reason to doubt actual or legal facts or consequences related to the registration of ownership or if the Depositary Center receives any notice that registration will cause damages to third parties, the Depositary Center may make a preliminary registration and, if it does so, it shall immediately commence an appropriate process to decide how the final registration for such Security shall be effected.

d. A person who believes that there is an error in the information entered into the registry so that the registry needs to be corrected or otherwise amended should make a written request to the manager of the Depositary Center or the person appointed by the manager to receive such requests. The Depositary Center shall correct or amend the registry after confirming the validity of the comments and information that are requested to be corrected or amended in the registry.  Such correction or amendment can only be effected after notice and opportunity to comment by the person or persons the registry identifies as owning the Security, and giving them a reasonable opportunity to comment on the required correction or amendment.

e. The Depositary Center shall issue a certificate of registration upon request by the investor. The operating rules of the Depositary Center will specify the manner in which periodic reports to all the owners of Securities registered on the Depositary Center’s records on the Securities owned by each owner and which are recorded with the Depositary Center’s records.

f. Complaints about decisions with respect to the registration of Securities listed on the Exchange shall be brought before the Committee.

g. The Depositary Center shall be liable for any monetary damage suffered by an investor and resulting from the proven negligence or misconduct of the Depositary Center’s employees that causes an error in the registration process.

h. The compensation due for the damage under paragraph (g) of this Article may be reduced or even eliminated if the claimant has contributed to causing the error in registration or if the error could have been avoided.