bonded investment

4a designated investment not held by a trustee when acting as a trustee:

1. (a) which, except in the case of a unit, is one of the following:
   1. (i) a readily realisable security held for a customer, whether or not held under a discretionary arrangement; or
   2. (ii) a designated investment in bearer form; or
   3. (iii) a designated investment held by a nominee company under the control of the firm or a person whom the firm controls; or
   4. (iv) a designated investment to which the title is recorded in electronic form;
2. (b) which the firm may sell or procure the sale of without the signature or other action of the customer or an independent third party; and
3. (c) where the proceeds of such a sale are or could be payable to the firm or its associate.