receiving bank
A bank appointed on an issue of shares to the public to receive and process the application forms for the shares, process and clear cheques, allocate the shares and send out share certificates. The bank will enter into a receiving bank agreement, in the form of a letter of instruction, with the company or the investment bank on behalf of the company, setting out the bank's responsibilities.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

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