immobiliser

English translation: immobilise

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:immobiliser
English translation:immobilise
Entered by: Mark Radcliffe

22:40 Mar 31, 2015
French to English translations [PRO]
Bus/Financial - Investment / Securities / Investment fund prospectus
French term or phrase: immobiliser
Hello

This is a prospectus for a fund with "bearer units" and the phrase is:

Pour immobiliser leurs Parts au Porteur auprès du Dépositaire des Parts au Porteur , les détenteurs...doivent les remettre auprès de leur banque locale et instruire cette dernière de procéder à leur immobilisation pour le compte leur propre compte.

I am not clear what "immobiliser" means here (and "immobilisation").

Thanks for your help.

Mark
Mark Radcliffe
United Kingdom
Local time: 18:42
immobilise
Explanation:
The word is the same. It is especially used as regards Luxemburg legislation.

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Note added at 20 hrs (2015-04-01 19:20:48 GMT)
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You may also read the following paragraph
"On the evening of 7 February 2013, the Executive Cabinet in Panama approved a law which, if passed by the National Assembly of Panama, will result in the immobilisation of Bearer Shares. The law looks likely to be passed by the National Assembly.

In future, any new Panamanian companies which issue Bearer Shares will have to leave those shares with a Panamanian custodian. Holders of Bearer Shares in existing companies will have to deposit their certificates with a designated custodian (registered agent, bank or trust company) in Panama, and will receive a custody certificate in return. The designated custodians will be regulated in Panama, and will be required to keep a record of the details of the person who deposited the bearer shares. If a holder of Bearer Shares dies, the custodian will require that a Grant of Probate (or equivalent) is obtained in order to transfer those shares to the heirs of the deceased shareholder. In many countries the Probate process is a public process and so the fact that the deceased owned the shares becomes a matter of public record. This removes what many see as the principal benefit of holding Bearer Shares." (see http://www.ogier.com/Publications/Library/Pages/The_Immobili...
Selected response from:

Howard Sugar
Italy
Local time: 19:42
Grading comment
Thank you
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +2immobilise
Howard Sugar
4to lock up/in
Francois Boye


Discussion entries: 1





  

Answers


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
pour immobiliser
to lock up/in


Explanation:
the metaphor "lock up" is explicit: the money deposited is no longer readily available, which corresponds to the concept of "immobilizer" in French

Francois Boye
United States
Local time: 13:42
Native speaker of: Native in FrenchFrench
PRO pts in category: 36
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6 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
immobilise


Explanation:
The word is the same. It is especially used as regards Luxemburg legislation.

--------------------------------------------------
Note added at 20 hrs (2015-04-01 19:20:48 GMT)
--------------------------------------------------

You may also read the following paragraph
"On the evening of 7 February 2013, the Executive Cabinet in Panama approved a law which, if passed by the National Assembly of Panama, will result in the immobilisation of Bearer Shares. The law looks likely to be passed by the National Assembly.

In future, any new Panamanian companies which issue Bearer Shares will have to leave those shares with a Panamanian custodian. Holders of Bearer Shares in existing companies will have to deposit their certificates with a designated custodian (registered agent, bank or trust company) in Panama, and will receive a custody certificate in return. The designated custodians will be regulated in Panama, and will be required to keep a record of the details of the person who deposited the bearer shares. If a holder of Bearer Shares dies, the custodian will require that a Grant of Probate (or equivalent) is obtained in order to transfer those shares to the heirs of the deceased shareholder. In many countries the Probate process is a public process and so the fact that the deceased owned the shares becomes a matter of public record. This removes what many see as the principal benefit of holding Bearer Shares." (see http://www.ogier.com/Publications/Library/Pages/The_Immobili...

Example sentence(s):
  • By virtue of the BVI Business Companies (Amendment of Schedules) Order 2007, the transition date for the immobilisation of BVI bearer shares not deposited with a custodian is set at 31 December 2009
  • The second issue is of greater significance. In 2005, the BVI introduced legislation which required existing BVI companies which had issued bearer shares prior to 1 January 2005 to either convert their bearer shares to registered shares or immobilise them

    Reference: http://www.mayerbrown.com/publications/BVI-Bearer-Share-Tran...
    Reference: http://www.conyersdill.com/publication-files/2014_06_Offshor...
Howard Sugar
Italy
Local time: 19:42
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
Grading comment
Thank you

Peer comments on this answer (and responses from the answerer)
neutral  philgoddard: But what does this mean?
12 hrs

agree  rkillings: Get used to it, the cognate is going to be used in EN.
19 hrs

agree  Louise TAYLOR
1 day 2 hrs
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