For shares in electronic registration, on which body must the seizure notice be served before the seizure takes effect, and what must the file show about it?
General information · Not legal advice
Material to check
In a practice file we read the seizure notice the competent tax office director issued, the papers showing which category the tax debtor falls in, such as the customer account opening record or the register of special account holders, and the delivery record showing which body actually received the notice.
These are types of material to look for, not evidence already verified by PRO SE.
Where readings differ
One reading ties the effect to the item classification: the effect of the seizure of electronically registered shares arises when the seizure notice is served on the body the provision designates for the debtor's category, that is the electronic registration institution, the account management institution, or the nominee transfer agent company, and the file must show both the debtor's category and service on that body.
Another reading separates the two notices the provision requires: the director must notify the tax debtor of the seizure after seizing under the first paragraph, yet the provision fixes the effect of the seizure only by service on the designated body, so the debtor notice tells the debtor of a seizure whose effect depends on that earlier service.
Your judgment
If the debtor's category is disputed, what in the file could establish which body had to be served for the seizure to take effect?
PRO SE does not make this decision or keep a case record on this public site.When to reconsider
We look at this again if the provision is amended to change the trigger of effect or the categories, or if a decision settles what counts as service on the designated body.