Addendums & Country Annexes

An overview document detailing the scope of the currently published addendums and annexes for the Asian markets published jointly by ISLA & PASLA.

ISLA and ICMA held an educational session in September 2024 to provide users more detail on the recently published GMSLA 2010 Digital Assets Annex, members can access the presentation slides from this explanatory webinar.

The Digital Assets Annex provides a standard framework and set of terms which can be used for any transactions in respect of which the Loaned Securities consist of or include Asset-backed Digital Assets or Platform Transferred Securities.

These guidance notes have been prepared to assist users of the GMSLA 2010 Digital Assets Annex. They do not form part of the Annex and whilst they summarise certain key provisions of the Annex they are not intended to summarise all of the provisions of the Annex.

This addendum modifies the GMSLA to incorporate specific terms for transactions involving Australia. These terms apply when at least one party is Australian, when securities involved are Australian, or as otherwise agreed by the parties. The goal is to address tax and regulatory implications related to Australian securities lending.

At the request of members, ISLA has prepared this standard form template clause to assist market participants when lending and borrowing Austrian securities. This template is for use with the GMSLA 2010 Title Transfer and the GMSLA 2018 Pledge agreements.

PASLA Legal Opinion on the validity and enforceability of the GMSLA 2010 and Thailand Addendum.

Modifies the 2010 version of the GMSLA in relation to transactions where one party is a resident of Thailand and the securities subject to the loan are listed on the Stock Exchange of Thailand and are Common Shares, Foreign Shares or Non-Voting Depository Receipts registered with the Thailand Securities Depository Company Limited.

Modifies the 2010 GMSLA in relation to transactions between two parties, neither of whom are registered in Thailand and where the securities subject to the loan are listed on the Stock Exchange of Thailand and are Common shares, Foreign Shares or Non-Voting Depository Receipts registered with the Thailand Securities Depository Company Limited or other securities issued in Thailand.

The Template Amendment to the GMSLA 2000 Agreement.

The Template Amendment to the GMSLA 2010 Agreement.

The Template Default Notice to the GMSLA 2000 Agreement.

The Template Default Notice to the GMSLA 2010 Agreement.

The Template Mini Close-out Notice to the GMSLA 2000 Agreement.

The Template Mini Close-out Notice to the GMSLA 2010 Agreement.

The Template Termination Notice to the GMSLA 2000 Agreement.

The Template Termination Notice to the GMSLA 2010 Agreement.

ISLA has produced a standard form amendment to assist market participants in their efforts to agree the deletion of references to LIBOR in their documentation. The wording can be used both as an additional provision in new GMSLAs, or as an amendment to legacy ones.

Modifies the 2000 or 2010 GMSLA between two parties in relation to loans of securities listed and quoted on the Malaysian Stock Exchange and prescribed by the Bursa Malaysia Securities Clearing Sdn Bhd (the Clearing House) as approved for Loan. Loans to be conducted through the SBLNT System.

Modifies the 2000 or 2010 version GMSLA between two parties in relation to loans of Taiwan equity securities under the Taiwan Stock Exchange Corporation Securities Lending and Borrowing Regulations.

This addendum modifies the 2010 GMSLA to incorporate specific terms for transactions involving US Tax.

These guidance notes have been prepared to assist users of the GMSLA 2010 US Tax Addendum.

Modifies the 2010 GMSLA between two non-Korean parties who have no permanent establishment in Korea in relation to loans of securities which are registered or deposited with the Korea Securities Depository under the Law on the Electronic Registration of Stocks, Bonds, etc. or the Financial Investment Services and Capital Markets Act of Korea which are intermediated by Korean Securities Company.

Modifies the 2000 or 2010 GMSLA between two non-Korean parties who have no permanent establishment in Korea in relation to loans of securities permitted to be borrowed and lent by way of a Customized Transaction under Article 3(1) of the KSD Regulation on Intermediation of Securities Lending and Borrowing Transactions which are intermediated by the Korean Securities Depository (KSD).

This addendum modifies the 2010 GMSLA to incorporate specific terms for transactions involving UK Tax.