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AMEDA Legal Working Committee – Report Back

This report presents the findings of AMEDA Legal Working Committee's efforts to promote harmonization and transparency in the region, mitigate legal risks in the CSD environment, and address common legal issues of interest. The report also includes recommendations for the overall development of AMEDA members.

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AMEDA Legal Working Committee – Report Back

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  1. AMEDA Legal Working Committee – Report Back 25th April 2012 Monica Singer CEO, Strate Ltd

  2. Committee Focus • Promote harmonisation and transparency in AMEDA region. • Identify ways to mitigate legal risk in the CSD environment. • Identify legal issues of interest, common grounds for legal development for the overall development of AMEDA members. • Share information on CSD legal and regulatory framework, including international and regional developments.

  3. Members • Ms. Rose Mambo, CDSC, Kenya • Dr. Maria Vermaas, Strate, South Africa • Mrs. Sarah Tarawneh, SDC, Jordan • Mr. Charles Ojo, CSCS, Nigeria • Mr. Omar Meran, Tadawul, Saudi Arabia • Secretary – Ms. Anne Njoroge, Strate, South Africa

  4. Task allocated: Harmonisation • How to harmonise the legal principles for establishing operational links across CSDs in the AMEDA region (see full report). • Draft questionnaire has been prepared. • Test sample of Legal Working Committee member CSDs will complete initial questionnaire. • Thereafter, all AMEDA members will be requested to complete on-line questionnaire.

  5. Task allocated: CSD-to-CSD Links • Drafting and review of a bilateral agreement to be used by any AMEDA members who choose to establish a CSD-to-CSD link. • Template prepared which can be used by AMEDA members as a guide in concluding bilateral contracts between CSDs. • See attached AMEDA CSD-to-CSD Link Agreement Template. • Covers both Legal and Operational sections.

  6. Task Allocated: AMEDA Governance • Report back on the definition of AMEDA observer / associate members, their rights and obligations.  • The key question was, if the associate members pay a fee for their membership, do they have a right to vote?  • Finding: AMEDA Bye-Laws can be amended to grant associate members the right to attend AMEDA general meetings, with no voting rights.  (See full report).

  7. Task Allocated: AMEDA Governance • Summary of Recommendations:  • Associate members should have the right to propose issues for discussion. • Associate members should have the right to participate fully, with voting rights, in AMEDA Working Groups. • AMEDA can charge Associate members a lower membership fee. • Associate member can be in place of, or in addition to, observers.

  8. Next Steps • Finalisation of the questionnaire on harmonisation of legal principles for the establishment of operational links across CSDs in AMEDA. • Completion of questionnaire by Legal Working Committee member CSDs, and thereafter by all AMEDA members. • Review of findings. • Preparation for a Legal Working Committee workshop in 2013 (dates aligned to AMEDA meeting) to discuss gaps, trends and specific recommendations.

  9. Questions? rmambo@cdsckenya.com mariav@strate.co.za starawneh@sdc.com.jo Ojo.charles@cscsnigerialtd.com omar.meran@tadawul.com.sa annen@strate.co.za

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