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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.