of selling to the offeror in a tender offer under the law on securities and exchange. Clause 4. The borrowed securities or lent securities under Clause 2 shall be securities in securities depository

and Exchange Commission hereby prescribes the following rules: Clause 1. In this notification: “short sale” means a sale of securities that must be borrowed in order to complete delivery; “customer

the borrowed securities, only in the portion not exceeding the value of the collateral; 2. payables under the pledged assets; 3. payable for a client account; 4. payable under a securities repurchase

of collateral; (c) total sum of the following liabilities: 1. payables with obligations to return borrowed securities, only in the portion not exceeding the value of collateral; 2. payables under

under Clause 21: (1) terms regarding the securities to be lent out and collateral shall include the following details: (a) the lender has to transfer the securities without preferential right or any

lent out and collateral shall include the following details: (a) the lender has to transfer the securities without preferential right or any encumbrance of others to the borrower, and the borrower has to